EU supports Vietnam’s sustainable energy development
(VOVworld) - The European Union (EU) has signed an agreement with Vietnam’s Ministry of Industry and Trade (MOIT) to reinforce bilateral cooperation in sustainable energy for the 2014-2020 period.
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| The EU will help Vietnam increase the share of renewable energy in its energy mix. |
The signing occurred at a workshop held on Wednesday in Hanoi, in which the EU pledged to allocate 346 million euros to support the development of sustainable energy in Vietnam. The figure accounts for 86.5% of the 400 million euros the EU will give Vietnam over the next six years. Deputy Minister of Industry and Trade Hoang Quoc Vuong said that although Vietnam is now a net energy exporter, it will become a net energy importer in the near future. He predicted that Vietnam would have to import 17 million tonnes of coal, or 31% of its total energy resources, by 2020:
“The EU-sponsored program will help improve Vietnam’s production efficiency and energy consumption. It will also increase the proportion of clean and renewable energy and enable people to access sustainable and reliable energy”.
Ambassador Franz Jessen, head of the EU delegation to Vietnam, said: “The European Union aims at having direct dialogue with the government of Vietnam. We intend to become a strategic partner and to facilitate a smooth and effective implementation of support program with sustainable benefits for the people of Vietnam”.
The two sides signed a memorandum of understanding to enhance energy cooperation between Vietnam’s Ministry of Industry and Trade and the EU.