Deputy Minister Nguyen Hoang Long attends the ceremony announcing the 430 million euros JETP support package for Vietnam and the EU’s assistance for the ASEAN Power Grid

On October 9, 2025, in Brussels, Belgium, as part of the working trip accompanying Deputy Prime Minister Bui Thanh Sơn to the 2nd Global Gateway Forum (GGF2), Deputy Minister Nguyen Hoang Long attended the ceremony announcing the European Union’s EUR 430 million support package for Vietnam to promote the Just Energy Transition Partnership (JETP). He also joined ASEAN energy ministers in announcing EU support for the ASEAN Power Grid (APG).

Deputy Minister Nguyen Hoang Long attended the ceremony to announce the 430 million euro JETP support package for Vietnam and the announcement of EU support for the ASEAN Energy Grid.

According to the European Commission’s statement released at the Forum, the EUR 430 million package provided by the EU and Team Europe will focus on the Bac Ai Pumped Storage Hydropower Project, one of Vietnam’s key investment projects under the JETP framework. The project will help strengthen energy security, improve access to clean electricity, create local employment opportunities, and enhance the flexibility and stability of Vietnam’s power system. This, in turn, will facilitate large-scale integration of renewable energy and contribute to Vietnam’s carbon neutrality goal.

Speaking at the ceremony, Jozef Síkela, European Commissioner for International Partnerships, emphasized that the Bac Ai project is a “cornerstone” in the joint efforts toward a green, reliable energy system that supports sustainable growth and attracts private investment. Through the Global Gateway, the EU “translates commitments into concrete actions for people, the planet, and shared prosperity.”

The support package is implemented under the Team Europe approach, which includes the EU, its member states, and major development finance institutions such as the French Development Agency (AFD), the European Investment Bank (EIB), the German Development Bank (KfW), Italy’s national development agency (CDP), and PROPARCO, the private sector investment arm of AFD.

On the same day, within the framework of GGF2, Deputy Minister Nguyen Hoang Long joined ASEAN energy ministers at the ceremony announcing EU support for the ASEAN Power Grid (APG), highlighting the importance of enhanced regional power connectivity.

During the 2021-2027 period, the EU has committed at least EUR 293 million for Vietnam. The EU, together with the EIB and member states, has contributed over EUR 2.8 billion to the JETP, promoting green infrastructure, sustainable energy transition, and regional power interconnection across ASEAN.