Strengthening comprehensive energy cooperation

On the afternoon of June 4 (local time), in Paris, France, Minister of Industry and Trade Nguyen Hong Dien, head of the Vietnamese delegation on a working visit to France, held a bilateral meeting with Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA).

Minister of Industry and Trade Nguyen Hong Dien, Head of the Vietnamese delegation working in France, had a working session with Dr. Fatih Birol - Executive Director of the International Energy Agency (IEA).

The session concluded with the signing of a memorandum of understanding (MoU) aimed at fostering comprehensive cooperation in the energy sector between Vietnam and the IEA.

During the meeting, Minister Dien expressed appreciation for the IEA’s continued support for Vietnam in recent years. As the leading global energy organization, the IEA plays a vital role in assisting partner countries to achieve energy security and advance a sustainable energy transition.

Within the framework of ASEAN energy cooperation, the IEA has long served as an important partner, contributing technical assistance and policy support through the ASEAN-IEA Energy Cooperation Action Plan.

Minister Dien welcomed the initiative to formalize cooperation and emphasized that the MoU would help Vietnam pursue its priority goals in energy development, while also fulfilling its international commitments on energy transition and climate change mitigation.

Providing an update on Vietnam’s Revised National Power Development Plan VIII, the Minister noted that Vietnam currently ranks first in ASEAN in terms of total installed capacity and second in electricity generation, with a system-wide capacity of approximately 84,000 MW. However, to meet growing demands for economic development and domestic consumption, this capacity must be tripled to around 236,000 MW by 2030.

In addition to this rapid growth, Vietnam is accelerating its transition toward clean energy by expanding the share of renewable sources in the national energy mix, including solar, onshore and offshore wind, and developing battery storage systems. The country is also prioritizing the development of stable baseload power sources, including hydropower, liquefied natural gas (LNG), and nuclear energy.

The Minister further briefed his counterpart on the revised Electricity Law, which allows Vietnam’s electricity sector to participate in the ASEAN power market, including electricity import and export, and the formation of a regional power grid. The amended law provides a legal framework for non-state and foreign enterprises to invest in power generation, particularly in nuclear energy, under mechanisms recently endorsed by the National Assembly.

IEA affirms commitment to supporting Vietnam’s energy ambitions

Minister Nguyen Hong Dien outlined five key areas where Vietnam seeks cooperation with the IEA. These include advancing policy consultation for sustainable energy development and a more competitive electricity market; developing human resources to implement smart grid systems and secure access to new energy sources; transferring advanced energy technologies across generation, transmission, and storage systems; facilitating access to green finance and global investors to promote new energy sources such as hydrogen and green ammonia; and supporting the rollout of Vietnam’s nuclear power program, starting with the Ninh Thuận 1 and 2 projects and the development of a broader nuclear energy ecosystem.

In response, Dr. Fatih Birol expressed strong support for Vietnam’s proposals and reaffirmed the IEA’s readiness to assist the country in developing its energy sector. He remarked that Vietnam has become a standout in the global energy landscape, particularly in renewable energy development.

Dr. Birol noted the impressive progress Vietnam has made and voiced optimism about the country’s future in offshore wind and nuclear energy.

“Vietnam is a bright spot in the global energy picture, and we have witnessed its remarkable achievements, especially in renewables. I am hopeful to see Vietnam take bold steps forward in offshore wind power. As for nuclear energy, I have long anticipated Vietnam’s advancements, and I look forward to the implementation of its nuclear projects. The IEA stands ready to support Vietnam in this area,” Dr. Birol stated.

Regarding the newly signed MoU, Dr. Birol expressed confidence that this agreement marks the beginning of a deepening and dynamic partnership between the IEA and Vietnam. Minister Dien proposed that both parties promptly identify key priorities and initiate concrete activities under the agreement.

He also invited Dr. Birol and his colleagues to visit Vietnam for detailed discussions on specific cooperation areas, human resource development, financial mobilization, and connecting with potential energy investors.

Immediately following the meeting, Minister Nguyen Hong Dien and Dr. Fatih Birol signed a comprehensive cooperation agreement covering seven strategic areas: clean and low-emission energy technologies—including renewables, battery energy storage systems (BESS), hydrogen, nuclear energy, and carbon capture and storage (CCS); energy security; electricity sector capacity building with a focus on renewable energy integration; energy efficiency and electrification in key industries; investment and finance in energy; a people-centered energy transition; and training, technology transfer, and capacity enhancement, particularly in managing the variability of renewable energy sources.

Immediately after the working session, Minister Nguyen Hong Dien and Mr. Fatih Birol - Executive Director of the International Energy Agency (IEA) signed a comprehensive and inclusive cooperation memorandum in the energy sector in 7 areas.

Present at the meeting and witnessing the signing ceremony were senior leaders of the IEA, representatives from the Vietnam National Oil and Gas Group (Petrovietnam), the Institute of Mechanical Engineering, and several departments under the Ministry of Industry and Trade.