VEPG addresses key policy development processes for energy sector

The highlight of this high-level meeting was the presentation of the VEPG Progress Report 2019 and the approval of the report by the VEPG chair and co-chairs. The report analysed the progress in the implementation of the 40 policy recommendations formulated by the five VEPG Technical Working Groups (TWGs) and adopted at the VEPG's second high-level meeting on November 26, 2018

Deputy Miniter of Industry and Trade Dang Hoang An emphasised the persistent challenges in the energy sector that require joint efforts and support in 2020 and beyond.

“The Vietnamese energy sector is of key importance for the development of the Vietnamese economy and the welfare of the people. It is of utmost importance to have strong and forward-thinking strategies in place to support Vietnam’s transition to a modern, green, and inclusive economy,” he said.

He added that, “We are committed to this task and welcome the support from the VEPG and the international development partners and further sector stakeholders that constitute our partnership. I am very proud to receive the VEPG Progress Report today and ask all VEPG partners to intensify the work in the upcoming year, to develop solutions, and to provide support for our key sector transition tasks.”

The third high-level meeting address key policy development processes and other activities aimed at boosting Vietnam’s energy sector development

Giorgio Aliberti, ambassador of the European Union to Vietnam, said, “Right now, we have a great opportunity to shape the course of Vietnam’s energy development. This is a unique opportunity for us to join hands in recalibrating the country's course towards more sustainable energy, shifting away from polluting to cleaner energy sources. The effects of climate change are severe and growing in frequency and intensity, both here in Vietnam and around the world. Global and national transition processes to cleaner energy systems must be accelerated, with ambitious commitments from the governments and with the strong support of development partners."

“The European Union remains fully committed to assisting Vietnam in its transition from brown to green energy, while also ensuring access to affordable energy for all and protecting Vietnam's competitiveness,” he confirmed

Meanwhile, Ousmane Dione, World Bank country director for Vietnam, also stated, “The success of the energy sector has been a key contributor to Vietnam’s socio-economic development. As we look forward, the sector is at an inflexion point and is poised for the next phase of its growth. The challenge is to ensure that the future energy demand is met, while also honouring environmental commitments by accelerating the transition to renewable energy and energy efficiency in a financially prudent manner. Continued strong policy reforms and a balanced system-wide approach is necessary for the development of the energy sector. The World Bank will continue to work with the authorities and all development partners to create a world-class energy sector in Vietnam.”

The first VEPG Stakeholder Forum, which followed the high-level meeting, hosted a select group of experts who shared their experience and debated prominent topics in Vietnam’s energy sector.

VEPG was established in June 2017 in an agreement between the Vietnamese government and its development partners with the purpose of strengthening mutual partnerships and better aligning and co-ordinating external support to the Vietnamese energy sector. VEPG is chaired by the Ministry of Industry and Trade (MoIT) and co-chaired by the delegation of the European Union to Vietnam and the World Bank.

The overall objective of the VEPG is thus to work towards effective and efficient international support to sustainable energy development in Vietnam, in line with national law and international agreements, of which Vietnam is a member.