UK commits to be partner of Việt Nam in energy transition

Representatives of UK and Vietnamese companies join in the “UK Experience Sharing on Development and Supply Chain for Renewable Energy Workshop” in Hà Nội on Wednesday. — Photo Courtesy of British Embassy Hanoi

The commitment was stressed during a trip of the green energy trade mission to Việt Nam during the week of October 20-24, 2024.

"The clean energy industry is the future of not only Việt Nam but the whole world. The UK appreciates Việt Nam's commitment to net zero emissions by 2050 as well as Việt Nam's target of installing 6GW of offshore wind power by 2030. It is these commitments that are sending a strong message and attracting many resources from around the world,” Smith said.

“We have always actively promoted the Just Energy Transition Partnership (JETP) to take effect in a timely manner, expecting to bring in US$15.5 billion of investment into energy transition projects in Việt Nam,” she confirmed.

“British businesses also play an important role in supplying equipment and services. I am confident that the British Energy Trade Mission’s visit to Việt Nam is just the beginning of many meaningful exchanges and the final outcome will be substantive cooperation between the two countries, especially in the trade sector of the industry.”

The trade mission was made up of 17 representative British enterprises in the supply chain of offshore wind, green hydrogen and energy storage sectors.

The delegation has spent five days across HCM City and Hà Nội to better understand the opportunities in Việt Nam and connect with potential partners. This is the second consecutive year that a British green energy trade mission has visited Việt Nam, following a successful trip back in November 2023.

This mission was led by the UK’s Deputy Trade Commissioner for Southeast Asia, Rhiannon Harries, starting with participation at the Green Economic Forum & Exhibition 2024 (GEFE).

This is the first year the UK has taken part in the forum, with the British Chamber of Commerce hosting a Pavilion alongside other European countries.

British experts in the fields of Renewable Energy, Green Finance, and Sustainable Agriculture also spoke at the conference, sharing their experience to support Việt Nam's green economy development.

“Climate change is a global challenge that requires global solutions and global partnerships. Việt Nam has set a clear ambition to accelerate its transition to renewable energy. This has been clearly outlined in PDP8 [Việt Nam Eight National Power Development Plan] with a target of 6GW of offshore wind development. The UK is well-placed to support Việt Nam’s clean energy ambitions – we are already home to the largest offshore wind market in Europe, the second largest in the world. The UK’s attendance at GEFE highlights our commitment to being Việt Nam’s trusted partner on its green transition journey,” Harries said.

The delegation had bilateral sessions with industry partners, including Electricity of Vietnam (EVN) and PetroVietnam (PVN), to explore cooperation opportunities, given their central role in Việt Nam’s clean energy transition journey.

The delegation shared their insights with Việt Nam’s Ministry of Industry and Trade at the “UK Experience Sharing on Development and Supply Chain for Renewable Energy Workshop”, co-organised by the British Embassy Hanoi.

The workshop demonstrated the UK's commitment to becoming a reliable partner of Việt Nam in the energy transition and opening up bilateral trade opportunities.