(MPI) - Deputy Minister of Planning and Investment Tran Quoc Phuong hosted a reception for Canadian Ambassador for Climate Change Catherine Stewart in Hanoi on March 14.

At the reception. Photo: MPI

During discussions about the implementation of the Just Energy Transition Partnership (JETP), in which Canada is also a member, Deputy Minister Phuong expressed Vietnam’s hope to accelerate the process. However, he noted several ongoing challenges related to institutional and policy frameworks, and partner countries lack of cooperative mechanisms and specific evaluation criteria. Vietnam hopes for specific project ideas and initiatives from countries and investors, which can then be generalised into operational mechanisms to expedite the JETP’s deployment.

The Vietnamese Government is directing its ministries and sectors to develop policies and create conditions for the JETP’s implementation. The Ministry of Planning and Investment (MPI) is ready to work closely with Canada, through the Canadian Embassy in Vietnam, to progressively implement this energy transition process.

The deputy minister hoped that with the Vietnam-Canada Comprehensive Partnership and the increasing cooperation across various sectors, Canada will have a mechanism to support financial resources and policies, towards helping Vietnam participating directly in projects where both sides share common goals, such as renewable energy development and environmental protection.

For her part, Ambassador Catherine Stewart affirmed the Canadian Government’s interest in deepening relations with Vietnam and prioritised cooperation on the JETP to advance cooperation in energy and climate change with the country. She expressed her impression on Vietnam’s strong commitment to achieving net-zero emissions by 2050 and its environmental protection commitments.

Regarding the JETP programme, Canada wishes to continue assisting Vietnam in implementing the set plans and strategies, considering this a moment to advance the agreement into a new phase. Catherine also emphasised that Vietnam is a top-priority partner with great potential for renewable energy sector development. Canada looks forward providing technical and financial support for the Vietnamese private sector to further encouraging their participation./.

Bao Linh

Ministry of Planning and Investment