Vietnam holds huge potential for wind power development. (Photo: VNA)

At the working session, Tan said a technology and energy working group was set up under the ministry to support the JETP implementation, adding the group is responsible for reviewing and completing policies as well as regulations on equitable energy transition besides coordinating technical activities and promoting technology transfer. 

The ministry also sends representatives to join other working groups to ensure smooth cooperation with competent ministries under the JETP framework, he said, hailing the support from the international partners and organizations for the ministry to carry out the energy transition in an effective fashion.

Tibor Stelbaczky, Principal Advisor on Energy Diplomacy at the EU delegation to Vietnam, said that energy transition is a complicated process not only for Vietnam but also for EU and any countries around the world.

He spoke highly of Vietnam’s National Power Development Plan VIII, and highlighted that Vietnam holds huge potential to branch out offshore wind power and solar power.

Vietnam and its international partners on December 14, 2022 announced a political declaration on the JETP establishment, which helps Vietnam deliver on its net-zero emission target by 2050 and accelerate the peaking of its greenhouse gas emissions, and transition away from fossil fuels to clean energy.

The partnership will mobilize an initial 15.5 billion USD of public and private finance over the next three to five years to support Vietnam’s green transition.