Memorandum of understanding signed between Vietnam’s Electricity Authority and the Australian Energy Regulator

The signing ceremony was witnessed by Deputy Minister of Industry and Trade Nguyen Hoang Long and Australian Ambassador to Vietnam Gillian Bird.

Speaking at the ceremony, Deputy Minister Nguyen Hoang Long said that the MoU represents a concrete step in implementing commitments under the Vietnam - Australia Comprehensive Strategic Partnership established in March 2024, under which resources and energy cooperation has been identified as a key strategic pillar.

Deputy Minister of Industry and Trade Nguyen Hoang Long speaks at the signing ceremony.

According to the Deputy Minister, the electricity sector is one of the fastest-growing industries, experiencing periods of rapid expansion that have generated new requirements for electricity system management, regulation and operation, electricity market development, and energy security assurance. For an emerging and developing economy such as Vietnam, international experience in electricity regulation, particularly from Australia, carries significant value.

Vietnam is entering a new stage of development with highly ambitious goals, including sustaining double-digit economic growth over an extended period. In this context, power sector development plays a crucial role, while electricity market development, power system expansion, and the improvement of electricity regulatory mechanisms and policies have become increasingly urgent priorities.

“The Ministry of Industry and Trade expects both sides to implement practical and substantive cooperation, focusing on areas with direct applicability to supporting the development of Vietnam’s power sector during the energy transition process,” Deputy Minister Nguyen Hoang Long emphasized.

Australian Ambassador to Vietnam Gillian Bird speaks at the signing ceremony.

Australian Ambassador to Vietnam Gillian Bird highly appreciated the cooperation achievements between the Electricity Authority of Vietnam and the AER over recent years, while reaffirming Australia’s strong commitment to energy cooperation with Vietnam within the framework of the Comprehensive Strategic Partnership.

She expressed confidence that the newly signed MoU would provide a solid foundation for both sides to further strengthen exchanges of experience, share professional expertise, and implement practical cooperation activities, thereby contributing to the development of safe, efficient, and sustainable energy systems in both countries.

AER Board Member Kate Symons speaks at the signing ceremony.

Representing the Australian Energy Regulator, AER Board Member Kate Symons stated that the regulator highly values its long-standing and trusted partnership with Vietnam’s Electricity Authority.

“We are committed to sharing Australia’s practical lessons and experience in building competitive electricity markets and advancing the energy transition, thereby supporting Vietnam in achieving its sustainable energy objectives,” she said.

Trinh Quoc Vu, Deputy Director of the Electricity Authority of Vietnam, affirmed that the Authority highly appreciates the cooperation, support, and experience-sharing provided by the AER over the years. He noted that the MoU signed today will serve as a foundation for both sides to carry out more practical and effective professional cooperation activities, contributing to enhanced regulatory capacity, electricity market development, and the fulfillment of new requirements facing the power sector amid the ongoing energy transition.

“The Electricity Authority of Vietnam will work closely with the AER to effectively implement the agreed areas of cooperation, delivering tangible benefits to both parties,” Trinh Quoc Vu stressed.

Trinh Quoc Vu, Deputy Director of the Electricity Authority of Vietnam, speaks at the signing ceremony.

The MoU builds upon and expands the outcomes of the first cooperation agreement signed in October 2017 between the former Electricity Regulatory Authority of Vietnam and the Australian Energy Regulator. Over nearly a decade, the two sides have maintained an effective partnership through numerous experience-sharing initiatives, training programs, and capacity-building activities in electricity regulation and competitive electricity market development.

The new MoU has been developed in line with the functions and responsibilities of the Electricity Authority of Vietnam following its restructuring and consolidation, while also broadening the scope of cooperation to cover new areas that address the evolving needs of the energy sector amid the accelerating global trends of energy transition and green transformation.

Under the agreement, the two parties will strengthen cooperation through information exchange, experience sharing, and capacity-building activities in areas aligned with their respective mandates. Priority areas include electricity regulation and power system operation; international regulatory approaches to emerging trends in the electricity sector; ensuring safe and reliable electricity supply; improving power system efficiency, including demand-side management and demand response (DSM/DR) programs; and enhancing capabilities in monitoring, evaluation, oversight, and promoting transparency in electricity regulation.

The signing of the MoU reaffirms the commitment of both the Electricity Authority of Vietnam and the Australian Energy Regulator to continue their partnership, while establishing a broader framework for cooperation in electricity regulation, electricity market development, power system operation, and energy transition. Through exchanges of experience, information sharing, technical cooperation, and capacity-building activities, both sides aim to deepen mutual understanding and facilitate the application of international best practices adapted to the specific circumstances of each country. These efforts are expected to support the development of the power sector in a safe, efficient, and sustainable manner while meeting the evolving demands of the energy transition.

Signing ceremony of the memorandum of understanding on cooperation in electricity regulation, electricity market development, and energy transition between the Electricity Authority of Vietnam and the Australian Energy Regulator.

The signing of the Memorandum of Understanding between the Electricity Authority of Vietnam and the Australian Energy Regulator establishes a new, practical, and more comprehensive framework for cooperation in electricity regulation, electricity market development, and energy transition. Building on the strong foundation of collaboration established since 2017, the two sides will continue to enhance information exchange, share expertise, and strengthen professional capacity, while promptly translating the agreed areas of cooperation into concrete actions through an implementation plan for the next 12 months.