Chairman of the National Assembly Vương Đình Huệ meets the visiting Governor of Japan Bank for International Cooperation (JBIC), Maeda Tadashi, in Hà Nội on July 22. VNA/VNS Photo

HÀ NỘI – Chairman of the National Assembly Vương Đình Huệ hosted a reception for the visiting Governor of Japan Bank for International Cooperation (JBIC), Maeda Tadashi, in Hà Nội on July 22 during which the Vietnamese top legislator spoke highly of his guest’s recommendations for Việt Na in energy transition.

Welcoming the JBIC leader, Huệ said the NA supports the Việt Nam-Japan strategic partnership to grow strongly in a comprehensive and substantive manner. Việt Nam and Japan have a lot to supplement each other, given that both countries are signatories to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Cooperation (RCEP).

Maeda said his bank plays a key role in providing credit and funding for Japan’s international cooperation projects. JBIC has been pushing for Japan’s initiative on developing an “Asian zero-emissions community” and Japan Energy Transition Initiative, he noted.

He then put forward several recommendations to help Việt Nam realise its commitment of achieving net-zero emissions by 2050 at the 26th UN Climate Change Conference (COP26) last year.

Expressing his thanks for Maeda’s recommendations, Huệ said the world is facing many uncertainties and suffering heavy toll caused by COVID-19, which not only challenge the recovery process but also affect the realisation of Việt Nam’s COP26 commitment.

According to Huệ, achieving net zero emissions by 2050 is a challenge for Việt Nam. He held that however, with its self-reliance and cooperation from foreign partners, including Japan, Việt Nam will accomplish the goal.

He hoped that JBIC and other development partners will support Việt Nam in improving its regulatory framework and institutions for sustainable development, particularly with regard to climate change adaption and energy transition.

The Vietnamese NA is revising the Law on Oil and Gas and the Law on Electricity as well as various master plans and key policies of the nation, he noted.

Việt Nam looks forward to receiving JBIC’s technical consultation in developing the most feasible strategy and roadmap for the energy transition, he said, adding that Việt Nam wants JBIC to help access funding for its green energy and energy transition projects that come with affordable interest rates.

He is confident that Japan will continue to be Việt Nam’s important and trustworthy partner in fulfilling goals in climate change adaption and energy transition, and COP26 commitments. VNS