Summit to strengthen green economy opportunities for Vietnam, Australia
  • | dtinews.vn | April 15, 2024 08:32 PM
Australian Assistant Minister for Climate Change and Energy Senator the Hon Jenny McAllister will meet Vietnamese and Australian business leaders, policymakers and industry experts in Vietnam to discuss how the countries can accelerate opportunities for green economy investment and trade.

According to the Australian Embassy in Vietnam, McAllister will attend the Australia-Vietnam Green Economy Summit in Ho Chi Minh City on April 16. More than 150 business leaders and experts from Australia and Vietnam will explore opportunities to tap into green economy investment and trade, including renewable energy resources and sustainable development to support net-zero emissions.

The Summit is organised by Asialink and Climateworks Centre, with support from the Australian Government.

Assistant Minister McAllister said “Australia and Vietnam are working to share the benefits of the clean energy transition. Cooperation is the key to unlocking economic opportunities for Australia and Vietnam as our countries, and international partners undergo a clean energy transformation.”

Senator McAllister’s visit comes a month after Australia and Vietnam signed a new Comprehensive Strategic Partnership (CSP) between Vietnam and Australia, which includes a commitment to strengthen climate, environment and energy cooperation, and the announcement of a new Energy Cooperation Package to enhance ASEAN-led regional energy policy and planning, at the recent ASEAN Summit.

As Vietnam seeks to expand its renewable energy capacity in line with its long-term net zero target, it is becoming a more attractive destination for investment. The recently approved roadmap for implementation of the National Electricity Development Plan (PDP8) highlights the development of renewable electricity sources and the expansion of transmission grids to cater to the nation's growing energy demands.

Climateworks Centre CEO Anna Skarbek, who is in Ho Chi Minh City for the Summit, said: “As the world races towards net zero emissions, now is the time for Australia to be strengthening its strategic relationship with Vietnam and the broader Southeast Asia region.”

“Vietnam is poised to play a significant role in the region’s decarbonisation and the Summit will provide an opportunity to accelerate Australia’s engagement in Vietnam’s green economy transformation,” Skarbek said.

“An enabling policy environment is critical to accelerating the green economy. The Australian Vietnam Green Economy Summit will inform decision-making and facilitate dialogue that can accelerate the energy transition, mobilise financing, advance areas for collaboration, and increase partnership for skills and innovation.”

Asialink CEO Martine Letts said the Summit “is a perfect opportunity to discuss how both Vietnam and Australia can leverage the opportunities that come from a Comprehensive Strategic Partnership.”

“The Summit will explore how both nations can effectively collaborate towards a shared ambition for sustainable development, job creation, and a transition to renewable resources and net zero emissions," Letts said. “The Summit is the perfect platform for Australia to start tapping into green economy investment and trade opportunities in Vietnam.”

The Summit is part of the Australia-Vietnam Green Economy Program, launched last year to foster collaboration and development between Australian and Vietnamese government and businesses in the green economy.

The program included roundtable discussions, webinars and a learning academy over nine months, providing insights into the opportunities and challenges of realising Vietnam and Australia’s shared ambition to transition to a clean energy economy.

In June 2023 the Australian Government announced a AUD105 million aid package for sustainable infrastructure planning and private investment in clean energy infrastructure in Vietnam.

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