Australian firms show interest in Vietnam’s green transition

June 05, 2024 | 08:00

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Further cooperation and investment in science, technology, trade promotion, innovation, digitalisation, and the green transition were all topics that were discussed during an Australian business delegation's visit to the Ministry of Planning and Investment (MPI) on June 4.

Australia enterprises interested in Vietnam’s green transition process

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc proclaimed there was a lot of room for cooperation between the two countries, but the scale of Australia's investment in Vietnam remained small. Australia ranks 20^th of 146 countries and territories investing in Vietnam.

Ngoc also spoke about Vietnam's achievements in its socioeconomic development, and the difficulties that come with that, as the country strives to meet its commitment to investing in renewable energy development and transitioning to clean energy, highlighting the launch of Power Development Plan VIII and policies to contend with the global minimum tax.

"Vietnam will continue to prioritise carbon-neutral projects to level up its status in global production chains, and I hope that Australian businesses will continue to invest in Vietnam during its digital, energy, and transportation transformations to bring benefit to both countries," Ngoc added.

Australian Ambassador Andrew Goledzinowski, in attendance at the meeting, agreed with the deputy minister's comments.

The two sides agreed to work closely together on matters including culture, education and training, the environment, climate change, green hydrogen production, and Vietnam's goal to be 'Net Zero by 2050'.

Representatives from the MPI, the Ministry of Industry and Trade, and the Ministry of Transport shared their views on the development of key transport infrastructure and energy transition investment policies on hydropower, wind power, solar, and biomass

Australia strengthens climate and energy cooperation with Vietnam

Australia's Assistant Minister for Climate Change and Energy Jenny McAllister will travel to Vietnam to drive cooperation on climate and the energy transition under the recently signed Comprehensive Strategic Partnership and Australia’s Southeast Asia Economic Strategy to 2040.

Australia commits AUD245 million to boost Vietnam's renewable energy and climate resilience

The Australia-Vietnam Green Economy Summit took place in Ho Chi Minh City on April 16, attracting nearly 200 businesses, investors, and experts from both countries.

Australia and Vietnam to develop competitive electricity market

The Australian Embassy in Vietnam and the Electricity Regulatory Authority of Vietnam (ERAV) signed an MoU on April 17 to collaborate on the development of a competitive electricity market.

Vietnam, Australia join hands in enhancing internationalisation of higher education

A series of training sessions, as part of a project on the internationalisation of higher education, concluded on April 11, reported the Ministry of Education and Training (MoET).

By Nguyen Huong

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