Trịnh Quốc Vũ, deputy director of the Electricity Regulatory Authority of Việt Nam, signs an agreement to implement the project with GIZ Việt Nam country director Michaela Baur in Hà Nội on Wednesday. — Photo courtesy of the Ministry of Industry and Trade

HÀ NỘI — The Ministry of Industry and Trade on Wednesday officially signed an agreement to implement the Transition of the Energy Sector in Việt Nam (TEV) project, in collaboration with the German Agency for International Cooperation (GIZ).

The EUR4 million (US$4.1 million) project is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), and focuses on three main areas to support Việt Nam in its energy transition process.

The initiative will assist the Ministry of Industry and Trade in researching solutions to realise international commitments on sustainable energy, develop new legal frameworks and regulations to establish a solid foundation for energy transition activities, and equip experts and managers with advanced technical knowledge to help modernise Việt Nam’s energy sector.

The project will be implemented through the end of this year, serving as a cornerstone in technological cooperation between Việt Nam and Germany.

It also aligns with the goals of the Just Energy Transition Partnership (JETP) between Việt Nam and G7+ countries, as outlined in the JETP Resource Mobilisation Plan.

Michaela Baur, GIZ Việt Nam country director, said: "I am pleased that TEV is built on the strong foundation of over 15 years of successful cooperation between the Ministry of Industry and Trade and GIZ.

“Together, we have implemented impactful projects such as Smart Grids for Renewable Energy and Energy Efficiency, and the recent Commercial and Industrial Rooftop Solar project. Germany is committed to continuing to share its expertise and experience to help Việt Nam achieve a sustainable, affordable and reliable energy future."

Trịnh Quốc Vũ, deputy director of the Electricity Regulatory Authority of Việt Nam, said: “The agreement marks an important milestone in the implementation of the TEV project and further strengthens the partnership between the two countries.

“I am pleased and grateful for GIZ's support in the past and for this project. I believe this support will help Việt Nam transition to a more sustainable energy system.”

Tăng Thế Hùng, deputy director of the Electricity and Renewable Energy Authority, said: “We still have a lot to do in the energy transition process.

“I hope that through this project, we will focus on supporting central and local agencies, especially businesses, in enhancing their capacity, improving the legal framework and raising awareness about the energy transition.” — VNS