Vietnam mobilises over 7 billion USD for just energy transition
Vietnam has so far mobilised more than 7 billion USD for its just energy transition agenda under the Political Declaration on the Just Energy Transition Partnership (JETP).
A wind power plant in Duyen Hai township, Vinh Long province (formerly part of Tra Vinh). (Photo: VNA)
Hanoi (VNA) - Vietnam has so far mobilised more than 7 billion USD for its just energy transition agenda under the Political Declaration on t༺he🐽 Just Energy Transition Partnership (JETP).
The information was unveiled at a coordination meeting in Hanoi on July 8 between Vietnam’s JETP Secretariat, International Partners Group (IPG), the Glasgow Financial Alliance for Net Zero (GFANZ), and other stakeholders. The event was co-chaired by Deputy Minister of Industry and Trade Nguyen Hoang Long and representatives from the European Union and the UK.
Delegates reviewed progress made since the JETP Secretariat's standing agency moved under the Ministry of Industry and Trade. Efforts were noted in institutional reforms, policy support, and project pipeline development to align with JETP’s guiding principles.
Three energy infrastructure projects have already secured funding from the IPG, including a 67 million EUR credit deal to build a 500kV power transmission line through Ho Chi Minh City and Dong Nai province; a 480 million EUR credit package for Bac Ai Pumped Storage Hydropower Project in Khanh Hoa province; and a 65 million EUR loan for upgrades to Tri An Hydropower Plant.
An additional 21 projects are under review, bringing the total to 24 projects identified as JETP-eligible, requiring estimated funding of 7.04 billion USD.
Partners reiterated their commitments to support Vietnam in achieving a fair, inclusive transition toward net-zero emissions by 2050. They also welcomed reforms to streamline project selection and pledged to work closely with the government to match projects with suitable funding sources./.
Prime Minister Pham Minh Chinh on December 1 announced a Resource Mobilisation Plan to implement the political declaration on establishing a Just Energy Transition Partnership (JETP) between Vietnam and the International Partnership Group (IPG), on the occasion of his attending the COP28 in Dubai, the UAE.
A consultation workshop was held in Hanoi on October 27 to finalise a draft resource mobilisation plan to implement the Political Declaration on establishing the Just Energy Transition Partnership (JETP).
The Just Energy Transition Partnership (JETP) will help Vietnam and many other developing countries realise their net-zero emissions targets by 2050, and shift to the use of clean energy, Deputy Minister of Industry and Trade Nguyen Hoang Long said at a working session with Norwegian Ambassador to Vietnam Hilde Solbakken in Hanoi on September 18.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
