Leading EU and UK businesses support Vietnam in implementing pilot projects within the framework of JETP

On October 6, at the Government headquarters, Deputy Prime Minister Tran Hong Ha received Mr. Tibor Stelbaczky, Special Envoy of the European Union (EU) and Mr. Chris Taylor, Special Envoy of the United Kingdom for the implementation of the Just Energy Transition Agreement (JETP).

Deputy Prime Minister Tran Hong Ha received Mr. Tibor Stelbaczky, EU Special Envoy and Mr. Chris Taylor, UK Special Envoy for JETP implementation. (Source: VNA)

Speaking at the reception, Deputy Prime Minister Tran Hong Ha said that JETP needs to be quickly implemented through specific actions with a cooperation mechanism between the Government and the private sector, however, the parties are currently confused when implementing it in practice.

Up to now, Vietnam has taken many steps in its commitment under JEPT such as establishing a Steering Committee, approving the implementation plan, establishing a secretariat with specialized working groups, implementing a resource mobilization plan, etc.

“This is the time to come up with a specific plan for the work to be carried out together. In which, the Government will lead the private sector in the energy transition process, from the survey, assessment, preparation of specific projects as well as readiness in terms of technology, finance, management methods... to develop renewable energy centers (wind power, solar power, green hydrogen production...) or convert coal power plants to use greener, cleaner fuel sources...", the Deputy Prime Minister shared.

The Deputy Prime Minister said that the Vietnamese Government has approved the National Power Development Plan for the 2021-2030 period, with a vision to 2050, with a large space for renewable energy. The work that needs to continue is to survey and evaluate areas with potential for renewable energy in the overall socio-economic development plan, plans to ensure the stability of the energy system with the increase of renewable energy sources; build a smart power transmission grid, etc.

Recently, Vietnam has selected leading enterprises to survey and prepare steps to pilot an offshore wind power project.

“The Vietnamese Government will continue to improve the legal framework on investment, finance, technology, ensure resources for renewable energy projects, build a direct electricity trading mechanism…”, the Deputy Prime Minister said and emphasized that “it is necessary to create practical movements for JETP instead of agreements based on signed documents”.

Emphasizing the importance of implementing the pilot project within the framework of JETP, Deputy Prime Minister Tran Hong Ha said that leading enterprises of the EU and the UK can cooperate with Vietnam to implement specific projects, thereby helping the governments of both sides to resolve difficulties and problems that arise.

The Deputy Prime Minister suggested the direction of establishing a center for research on mechanisms, policies, science and technology for energy transition in Vietnam with the participation of managers, scientists, businesses, financial institutions, etc. to propose a new cooperation mechanism between developing and developed countries, along with resources from the Government and the private sector in implementing JETP.

Thanking the Deputy Prime Minister for taking the time to meet, the EU Special Envoy and the UK Special Envoy for JETP shared the plan to mobilize comprehensive resources to implement JETP through specific projects with practical approaches and actions; wishing to participate in regular and periodic exchange mechanisms to propose specific and effective solutions during the implementation process in Vietnam.

Mr. Chris Taylor said that the bilateral and multilateral coordination mechanism in JETP plays a very important role in implementing renewable energy projects.

Source: https://baoquocte.vn/cac-doanh-nghiep-hang-dau-cua-eu-anh-ho-tro-viet-nam-trien-khai-du-an-thi-diem-trong-khuon-kho-jetp-245105.html