Sweden, Vietnam share similarities and challenges in energy sector

Swedish Ambassador to Vietnam Ann Måwe has said that Sweden and Vietnam have similarities and share challenges in the energy sector, and the two countries hold great potential in collaboration in this field.

Swedish Ambassador to Vietnam Ann Måwe. Photo: Lam Pham

Transporting electricity over long distances efficiently is critical, as is the overall stability and reliability in the grid, in order to enable the continuing implementation of renewable energy.

Managing these challenges is important for economic development, but also from a climate perspective.

In such regard, the Swedish government, via its different agencies, finds good synergy between Vietnam and Sweden in those areas and would like to seek further collaboration opportunities.

Some of many Swedish companies active in the energy sector and Swedish export credit agencies SEK & EKN will offer attractive technical and financing solutions for projects in Vietnam.

In addition, through the Swedish agency Swedfund, Sweden is discussing the possibility of granting feasibility studies to Vietnam Energy (EVN) and the Ministry of Industry and Trade’s Institute of Energy within areas such as transmission network upgrade, 4G/5G implementation in the grid as well as energy storage systems in order to support Vietnam’s efforts to increase its share of renewables in the energy mix.

The purpose of the workshop is therefore to discuss more in detail the opportunities for collaboration between Sweden and Vietnam, at both national and corporate levels.

Ambassador Ann Måwe expected the event to stimulate a policy and cooperation discussion between private and public actors and result in a memorandum of understanding between the two countries in this vital sector.

Vietnam's Deputy Minister of Industry and Trade Hoang Quoc Vuong. Photo: Lam Pham

Long history in energy sector

The ambassador emphasized that Vietnam and Sweden have cooperated in energy for decades and hoped that the cooperation would be stronger in the years to come.

“Sweden and Vietnam has a long history in cooperating in the energy sector. Historically the focus was on hydroelectric power. Today the defining issue is climate change and we all need to move from fossil fuels dependency to increase the share of renewables in our energy mix not least solar and wind power and more energy efficient solutions for transmission,” she stated.

Energy, transport infrastructure and water supply are challenges to economic growth not only in Vietnam and need to be addressed with priority.

Vietnam and Sweden, as signatories to the Agenda 2030, have a responsibility to tackle these challenges as it benefits people and climate, and good business as well, she noted.

Sharing the same mind, Vietnam's Deputy Minister of Industry and Trade Hoang Quoc Vuong said the two countries hold enormous opportunities to cooperate in the energy sector and the goal is how to make the potential activated through cooperation programs.