Deputy Prime Minister Tran Hong Ha (Photo: VNA) Hanoi (VNA) – Vietnam is ready to further deepen the traditionalrelationship and strategic partnership with France, especially with the FrenchDevelopment Agency (AFD), Deputy Prime Minister Tran Hong Ha told its CEO RémyRioux during a reception in Hanoi on February 17.
DeputyPM Ha expressed his wish for AFD’s technical assistance to improve the legalenvironment for the transition to green economy, green investment and greenfinance. This includes developing a budget for climate change adaptation,building a carbon credit market, diversifying energy sources, achieving a sustainable energybalance, and fulfilling commitments to addressing climatechange, such as afforestation and greenhouse gas emission reduction.
Byjoining the Just Energy Transition Partnership (JETP) agreement with G7 andother developed countries, Vietnam demonstrates its high commitment andresponsibility towards global issues, particularly in climate change response,he said.
Apartfrom helping Vietnam access modern technology for the development of green andrenewable energy, he highlighted the need to build a global financial mechanismto pool investment in practical and core research on a smart grid system,transportation and export of renewable energy, and the production of greenfuels.
The host wished that in the near future, the support models and projects of AFD, which boasts 30-years of experience in working in Vietnam, would be cross-regional andcross-sectoral. AFD would partner with scientists and businesses to study andcommercialise renewable energy technology, produce green fuels and develop a smart grid system.
Accordingto him, Vietnam could become an example of a developing country thatsuccessfully carries out JETP with support in resources and its financialmechanism.
Rioux, for his part,said AFD has funded 84 projects with a total commitment of over 2 billion EUR tohelp Vietnam adapt to climate change. During 2006-2022 alone, it disbursedabout 1.1 billion EUR for 30 development projects.
Aboutfunding for public projects within the JETP framework, he said AFP vows to add the social impact of the energy transition process, as well as support theanalysis of the Vietnamese Government's options when participating in thisagreement.
AFD also wants to cooperate with the StateBank of Vietnam (SBV) and State-owned commercial banks to increase support for theprivate sector, especially in the financial system, he said.
Accordingto him, the agency recently asked the SBV to build a comprehensive programme tosupport the transition of the financial system, similar to what has been implementedin Indonesia and India to attract private investment for renewable energy development./.
