Deputy Prime Minister Tran Hong Ha (R) receives the UK's Ambassador to Vietnam, Iain Frew. (Photo: VNA) The Deputy PM hailed the UK’s support for Vietnam in the processof joining the Just Energy Transition Partnership (JETP), and stressed thatVietnam’s participation in JETP could be seen as a model of cooperation betweendeveloping and developed countries.
Noting the importance of mechanisms to realise ideas and commitments made underthe JETP, Ha said Vietnam is very much in need of the UK’s assistance in technologytransfer, technical consultation, financial mechanisms, and investor selectionfor specific projects in renewable energy (particularly offshore wind energy),forest plantation, carbon capture, green hydrogen production and research ofnew technology.
He said specific mechanisms and “formulas” are needed to attractinvestment into renewable energy while ensuring affordable costs with theengagement of governments, financial organisations and corporations withexperience and know-how.
The Deputy PM was of the view that similarly to the vaccine sharingmechanism during the COVID-19 pandemic, developing countries can only carry outjust energy transition and realise net zero emission when developed countriesactively transfer related technologies at reasonable costs.
Ambassador Frew said the UK wishes to discuss further withVietnam’s relevant agencies possibilities in assistance to Vietnam in renewableenergy, net zero emissions, and climate change response, thus contributing tofurther promoting bilateral cooperation on the occasion of the 50th anniversary of the two countries’ diplomatic relationship.
*Earlier the same day, Deputy PM Ha held a reception for the Presidentfor Regions and Corporate Affairs of Bechtel Corporation, Stuart E. Jones.
Ha stressed the need for global cooperation on energy and shared with the guestVietnam’s orientation in developing offshore wind power centres and building smartgrids for renewable energy. He said Vietnam has the potential to become a production,storage and transport hub for renewable energy, green hydrogen and greenammonia, provided that there are feasible technological solutions.
In addition, Vietnam also has a need for investment in modernland and railway transport networks, underground transport works, multi-purposeinfrastructure and energy transition, he said, asking Bechtel to share itsexperience in creating opportunities and seeking capital sources and investorsin those fields.
E Jones said the corporation is willing to transfer technologiesin green hydrogen and carbon capture, as well as to promote inter-regionalcooperation in energy transition and transmission of renewable energy in thetime ahead./.
VNA
