A phase of rapid wind power growth is expected to meet the country’s increasing electricity demand, ensure energy security, and deliver socio-economic benefits in pursuit of a renewables-led pathway.

Vietnam continues to be a key partner of the UK in the region, especially as the UK prioritizes greater cooperation with the India-Pacific region.

Germany helped Vietnam initiate its Smart Grid roadmap in 2017 when the Southeast Asian country did not yet have a complete energy transition concept and had not yet committed to net zero.

The Vietnamese Prime Minister expected the JBIC to provide Vietnam with policy consultation, capital, technologies, human resource, and corporate governance experience so that the country could develop the energy transition sector.

The World Bank would share experience and enhance capacity building to help Vietnam establish the necessary regulatory framework and implement projects that promote sustainable development.