Deputy Minister Nguyen Hoang Long meets JETP envoys from the UK, EU, GFANZ and UNDP

The meeting was attended by representatives of several departments under the Ministry of Industry and Trade, including the Electricity Authority, the Department of Foreign Market Development, and the Department of Innovation, Green Transition and Industrial Promotion. It took place at a time when the global energy transition is under increasing pressure to accelerate, amid continued volatility in international energy markets.

Discussions focused on the implementation progress of JETP. The Vietnamese side reported a number of notable achievements, including improvements in the regulatory framework, efforts to remove legal bottlenecks, enhancements to the investment environment in the energy sector, as well as the development of a project pipeline and the initial rollout of several priority projects.

Deputy Minister Nguyen Hoang Long chairs a meeting with international partners on the implementation of JETP. Photo: Phuong Trang.

In his remarks, Deputy Minister Nguyen Hoang Long underscored that Vietnam considers energy transition a key strategic priority, closely linked to its goals of green growth and sustainable development. He emphasized the need to shift the focus from high-level commitments to concrete implementation, ensuring both effectiveness and feasibility.

One of the key issues highlighted at the meeting was the urgent need for investment in power grid infrastructure. According to the Vietnamese side, this is a decisive factor in determining the system’s capacity to absorb and expand renewable energy in the coming years. Without a sufficiently robust and synchronized grid, renewable energy sources would face significant challenges in integration, potentially posing risks to the overall power system.

In recent years, Vietnam has made efforts to address obstacles related to investment mechanisms for grid infrastructure, creating more favorable conditions for enterprises to access financing and implement large-scale projects. The country has also attracted growing interest from international financial institutions and foreign investors in this sector.

International partners commended Vietnam’s efforts to improve the investment climate and advance the energy transition. They reaffirmed their commitment to continued cooperation, including technical and financial support for the transition process.

Representatives of partner organizations noted that Vietnam holds significant potential to attract investment in renewable energy, grid infrastructure, and related sectors, particularly as global demand for green development models continues to rise.

Deputy Minister Nguyen Hoang Long called on partners to maintain close coordination with Vietnam in implementing JETP, while strengthening information exchange and technical assistance. He also stressed the importance of focusing on tangible outcomes, prioritizing highly feasible projects, especially in power grid development and renewable energy, thereby contributing to energy security and sustainable growth.

All parties agreed to maintain regular dialogue and enhance coordination in preparing and implementing projects, with the shared objective of advancing a fair and effective energy transition in Vietnam.

The meeting was seen as a further step in strengthening cooperation between Vietnam and its international partners, towards the common goal of promoting an equitable, efficient, and sustainable energy transition.