EU Commits EUR200M to Vietnam for Energy Transition in 2024
The EU has pledged EUR200 million for Vietnam’s energy sector in 2024, focusing on implementing the Just Energy Transition Partnership (JETP) mechanism to achieve net-zero emissions by 2050, an official has said.
Ms. Myriam Ferran, deputy director-general for International Partnerships of the European Commission, announced such information at a meeting with the press on May 28 upon her arrival in Vietnam for a visit.
This funding, part of a larger EUR500-million agreement, includes EUR140 million in non-repayable aid for legal reforms and capacity building in Vietnam’s energy projects.
Ms. Ferran emphasized the importance of Vietnam as a key partner in addressing climate change, given its rapid development and increasing energy needs. She underscored the dual transition towards clean energy and digital transformation, highlighting the need for technological solutions and capacity building.
As part of their cooperation, the EU and Vietnam are implementing projects in vocational education, including the vocational education project in Ninh Thuan province, aimed at equipping learners with green and digital skills. This project, funded with EUR54 million, reflects the EU’s commitment to supporting Vietnam’s sustainable development.
During her Vietnam trip, Ms. Ferran is scheduled to meet with Deputy Prime Minister Tran Hong Ha, leaders of the Ministry of Natural Resources and Environment, Ministry of Justice, Ministry of Agriculture and Rural Development, and executives of European firms.
Besides, she will visit Bac Ai pumped-storage hydropower project in Ninh Thuan province and join some other activities.