JBIC Participates in “International Experience in Energy Development for National Sustainable Development Goals” Workshop Hosted by Vietnamese National Assembly

The Japan Bank for International Cooperation (JBIC) was invited by the Committee for External Affairs of the Vietnamese National Assembly to speak at the “International Experience in Energy Development for National Sustainable Development Goals” workshop hosted by the Committee on September 23, 2022.

Approximately 80 people participated in the workshop, which was held for the Vietnamese participants to, inter alia, (1) learn from such entities as foreign governments and companies, and international organizations in Hanoi about energy development projects in other countries that will contribute toward sustainable development, (2) learn from international experiences shared by such entities that could contribute toward the energy transition of Vietnam and adapt the experience to support this, and (3) employ the knowledge gained in the workshop to develop the Vietnamese legal system in the National Assembly.

Workshop in the Vietnamese National Assembly building

Chief Representative AGUIN Toru of the JBIC Representative Office in Hanoi addressed the workshop participants, speaking on the theme of both JBIC and Japan’s support for a realistic energy transition and realization of carbon neutrality for Vietnam. He mentioned that JBIC’s support for the Vietnamese power sector covers power projects, such as a large-scale power generation project and a rooftop solar power generation project involving Japanese companies, had reached nearly 10% of Vietnam’s entire power capacity. He also spoke about the Asia Zero Emissions Community (AZEC) Concept, advocated by the Government of Japan, and told Vietnamese participants from the National Assembly that JBIC will consider supporting the introduction of Japanese decarbonization technologies. Following Chief Representative AGUIN’s speech, Mr. Nguyen Manh Tien, Vice Chairman of the National Assembly’s Committee for External Affairs, who chaired the workshop, expressed that the Vietnamese side appreciates the strong support and thought-provoking suggestions from Japan, and that it has high expectations for JBIC’s continued support in a wide range of schemes and for Japanese companies.

JBIC’s Chief Representative AGUIN addressing to the workshop participants

The workshop covered a broad range of topics, including national energy policy trends, which were remarked on by the Embassies of the United States and Australia and the delegation of the EU respectively. AES, a U.S. company, spoke about the importance of gas-fired power and LNG market outlook, while Australian company Corio Generation gave a speech on policy and legal frameworks for offshore wind power. Their proposals were also presented. In addition, the World Bank shared its international experience in energy transition and presented its proposals, and the Asian Development Bank told the audience more about support through its Energy Transition Mechanism (ETM). From the Vietnamese side, the Ministry of Industry and Trade, the Ministry of Natural Resources and Environment, the Ministry of Planning and Investment, and Vietnam Electricity explained developments involving electricity in general, renewable energy development, investment promotion systems, power supply trends and demands, etc.

At the end of the workshop, Vice Chairman Tien of the National Assembly’s Committee for External Affairs thanked the participants, stating that the information and proposals shared at the workshop were valuable for the realization of Vietnam’s great goal of carbon neutrality by 2050 and that the National Assembly would draw on them to develop a legal system for energy transition, which is new to the Assembly.

As Japan’s policy-based financial institution, JBIC will continue to actively promote policy dialogue, by strengthening its relationship with the Vietnamese National Assembly, which has become increasingly important, as well as with the Government of Vietnam and the Communist Party of Vietnam, to contribute toward enhancing the investment environment for the overseas business expansion of Japanese companies.

Vice Chairman Nguyen Manh Tien of the NA’s Committee for External Affairs (center) and members of JBIC Representative Office in Hanoi