On June 28, at the Government headquarters, Prime Minister Pham Minh Chinh chaired a discussion with representatives of British businesses investing in Vietnam.
Also attending the Dialogue were the Ambassador Extraordinary and Plenipotentiary of the United Kingdom to Vietnam Ian Grant Frew and representatives of 25 British enterprises investing in Vietnam. On the Vietnamese side, there were representatives of leaders of relevant ministries, branches and agencies.
Speaking at the seminar, Deputy Minister of Industry and Trade Nguyen Hoang Long emphasized that an important area in the cooperation between the two countries is energy, especially renewable energy. Vietnam has committed to Net Zero by 2050, so in recent times, Vietnam has introduced many breakthrough policies, especially in the field of renewable energy development.
Recently, the Prime Minister issued the Power Plan VIII to adjust Vietnam's energy development, in which priority is given to the development of renewable energy. In the renewable energy development plan, the highlight is the development of offshore wind power according to the revised Power Plan VIII. By 2030, Vietnam will have 6,000 MW of wind power, and by 2035, it will be 17,500 MW.
According to Deputy Minister Nguyen Hoang Long, the UK is a pioneer and has the strongest offshore wind power supply chain in Europe and the world. Currently, the two countries are promoting cooperation on five main pillars: capital, technology, training, management and institutions.
Regarding the UK's commitment to support Vietnam within the framework of the Just Energy Transition Partnership (JETP), the Ministry of Industry and Trade has been working with the UK Government and recently the UK Ministry of Finance has also reaffirmed its commitment to a capital source of 1 billion USD to support Vietnam within the JETP.
Regarding training, the Ministry of Industry and Trade proposed that the UK continue to promote the Ministry of Industry and Trade's offshore wind power training center and energy sectors in Vietnam. This will be one of the important policy centers to promote offshore wind power in Vietnam, contributing to perfecting the mechanism and policies to promote the offshore wind power industry as well as renewable energy in general in Vietnam.
Regarding technology, Deputy Minister Nguyen Hoang Long highly appreciated the UK's potential in developing and transferring offshore wind power technology. Vietnam wishes to expand cooperation with UK universities and research institutes to train high-quality human resources for this field.
Regarding capital, the establishment of an international financial center with policy-based capital sources is also one of the measures to attract capital into the energy sector, especially offshore wind power, a sector that requires very large initial capital (about 60-70 billion USD).
"A very good news that the Ministry of Industry and Trade would like to report to the Prime Minister as well as British businesses, for the 17,500 MW of offshore wind power capacity in 2035, after Resolution 68 was issued, many corporations and private economic groups in Vietnam have submitted registrations to start implementation," Deputy Minister Nguyen Hoang Long said, emphasizing that the Ministry of Industry and Trade expects that by the end of this year, Vietnam's first offshore wind power project will begin implementation.
"We hope the UK will continue to cooperate closely with Vietnam to develop offshore wind power," the Deputy Minister affirmed.
The Prime Minister also spoke at the recent ASEAN summit, Vietnam aims to become an energy center exporting green electricity to countries in the region in the context that Vietnam is very favored by nature to form offshore wind power. Therefore, this is also a potential field for economic and trade cooperation between Vietnam and the UK as well as Vietnam and other countries in the world.
According to the Deputy Minister of Industry and Trade, the UK has two strengths worth learning from, which are the ability to build institutions to accompany the development of the energy market and the London Financial Center - where large investment funds are concentrated. With experience in building energy industrial parks and developing separate investment fund models for each offshore wind power project, the UK is considered a potential strategic partner to help Vietnam realize its energy transition goals.
"Each offshore wind power project is not only a technical project but also a complex financial structure, requiring the support of international investment funds. And that is what the UK does very well," Deputy Minister Nguyen Hoang Long emphasized.
Source: https://moit.gov.vn/tin-tuc/phat-trien-nang-luong/viet-nam-anh-day-manh-chuyen-giao-cong-nghe-dien-gio-ngoai-khoi.html
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