{"id":149014,"date":"2025-06-01T08:38:15","date_gmt":"2025-06-01T08:38:15","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/149014\/"},"modified":"2025-06-01T08:38:15","modified_gmt":"2025-06-01T08:38:15","slug":"statement-uk-and-eu-welcome-viet-nam-jetp-progress-foreigncommonwealth-and-development-office","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/149014\/","title":{"rendered":"Statement: UK and EU welcome Viet Nam JETP progress | Foreign,Commonwealth and Development Office"},"content":{"rendered":"<p><strong>The UK and EU welcome progress on Viet Nam&#8217;s Just Energy Transition Partnership as President Macron of France visits the country<\/strong><\/p>\n<p>On behalf of the International Partners Group (IPG), the European Union and the United Kingdom \u2013 IPG co-leads for the Viet Nam Just Energy Transition Partnership (JETP) \u2013 warmly welcome French President Emmanuel Macron\u2019s visit to Viet Nam, reaffirming support for Viet Nam\u2019s goal to deliver a clean energy transition that is inclusive and rooted in sustainable growth on the pathway to \u2018net zero\u2019 emissions by 2050. \u00a0<\/p>\n<p>On 26th May, President Macron and President L\u01b0\u01a1ng C\u01b0\u1eddng announced progress on two important JETP-supported investment projects:<\/p>\n<ul>\n<li>A Credit Financing Agreement between Electricity of Vietnam National Power Transmission Corporation (EVN NPT) and Agence Fran\u00e7aise de D\u00e9veloppement (AFD) of \u20ac67 million to build a 500kV transmission line and substations across the Binh Duong and Dong Nai provinces. This project will increase the national transmission network\u2019s capacity to integrate renewable energy and deliver reliable electricity in key economic regions in southern Viet Nam.<\/li>\n<li>A Memorandum of Understanding (MoU) between EVN and AFD as coordinator of six IPG Development Finance Institutions (AFD, EIB, JICA, KfW, CDP, and Proparco) and the EU, acknowledging \u20ac490 million for the construction of the first 1200 MW Pumped Storage Hydropower project in Vietnam located in Bac Ai, Ninh Thuan province. This large-scale energy storage project will improve grid resilience and enable further integration of variable renewable energy sources into Vietnam\u2019s energy mix. This pilot project also contributes to the development of regulatory, financial, and investment approaches, paving the way for related future partnerships.<\/li>\n<\/ul>\n<p>France\u2019s and IPG\u2019s \u20ac547 million financial contribution to these two flagship energy transition projects marks an important step towards delivering the public finance commitments under the JETP.<\/p>\n<p>The EU and UK remain fully committed to the JETP as co-leads, working with Viet Nam as it continues to raise ambitions for tackling emissions, limiting coal and increasing the share of renewables as set out in the recently revised of National Power Development Plan (PDP8).<\/p>\n<p>In addition to mobilising project-specific finance, the IPG will continue to engage closely with the Government of Viet Nam, the Glasgow Financial Alliance for Net Zero (GFANZ), and wider JETP partners, to promote a strong enabling policy environment for developers and investors that drives Viet Nam\u2019s future green\u00a0growth ambition.<\/p>\n<p><strong>What is the JETP ?<\/strong><\/p>\n<p>The Just Energy Transition Partnership (JETP) is a cooperation initiative and related\u00a0<a class=\"govuk-link\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/es\/statement_22_7724\" rel=\"external noopener\" style=\"-webkit-font-smoothing: antialiased; text-decoration-thickness: max(1px, 0.0625rem); text-underline-offset: 0.1578em; overflow-wrap: break-word; color: rgb(29, 112, 184);\" target=\"_blank\">Political Declaration<\/a>\u00a0agreed in December 2022 between Viet Nam and the International Partners Group (IPG; now comprised of the European Union, the United Kingdom, Canada, Denmark, France, Germany, Italy, Japan, Denmark and Norway, and co-led by the EU and the UK. The overarching goal is to support the country\u2019s energy transition trajectory towards its 2050 net zero emissions commitment. The JETP Political Declaration consequently sets out 3 main targets:<\/p>\n<ol>\n<li>Accelerate and cap the peaking of GHG emissions from the power sector at 170 million tons of CO\u2082 equivalent by 2030;<\/li>\n<li>Limit the installed capacity of coal-fired power plants to 30.2 gigawatts by 2030;<\/li>\n<li>Increase the share of renewable energy in the power mix to 47% by 2030, promoting investments in wind, solar, and other clean energy sources.<\/li>\n<\/ol>\n<p>In support of these targets, the JETP partners secured original funding commitments of $15.5 billion, including $7.5 billion public sector finance from IPG members (grants, concessional and commercial loans and instruments) and $7.5 billion private sector finance facilitated by the Glasgow Financial Alliance for Net Zero (GFANZ).\u00a0<\/p>\n<p>JETPs are also being implemented to support the energy transitions in South Africa, Indonesia and Senegal.<\/p>\n<p><strong>Media enquiries<\/strong><\/p>\n<p>Email\u00a0<a class=\"govuk-link\" href=\"https:\/\/www.wired-gov.net\/wg\/news.nsf\/articles\/mailto:newsdesk@fcdo.gov.uk\" style=\"-webkit-font-smoothing: antialiased; text-decoration-thickness: max(1px, 0.0625rem); text-underline-offset: 0.1578em; overflow-wrap: break-word; color: rgb(29, 112, 184);\" target=\"_blank\" rel=\"noopener\">newsdesk@fcdo.gov.uk<\/a><\/p>\n<p>Telephone 020 7008 3100<\/p>\n<p>Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The UK and EU welcome progress on Viet Nam&#8217;s Just Energy Transition Partnership as President Macron of France&hellip;\n","protected":false},"author":2,"featured_media":138431,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[8385,44329,748,60164,365,12495,60301,35,393,2000,63773,36,4884,63772,63770,6582,43,1144,18191,7574,712,37850,16,15,63771,2150,1764],"class_list":{"0":"post-149014","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"category-united-kingdom","9":"tag-afd","10":"tag-alliance","11":"tag-britain","12":"tag-declaration","13":"tag-denmark","14":"tag-development","15":"tag-email","16":"tag-energy","17":"tag-england","18":"tag-eu","19":"tag-evn","20":"tag-france","21":"tag-great-britain","22":"tag-ipg","23":"tag-jetp","24":"tag-just","25":"tag-macron","26":"tag-northern-ireland","27":"tag-partnership","28":"tag-president","29":"tag-scotland","30":"tag-transition","31":"tag-uk","32":"tag-united-kingdom","33":"tag-viet","34":"tag-vietnam","35":"tag-wales"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114607207421879407","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/149014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=149014"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/149014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/138431"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=149014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=149014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=149014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}