Vietnam, Japan collaborate to drive energy transition

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son (R) and Chairman of the Board of Directors of the Japan Bank for International Cooperation (JBIC) Maeda Tadashi at their meeting in Hanoi on December 4 (Photo: VNA)

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son hosted a reception in Hanoi on December 4 for Chairman of the Board of Directors of the Japan Bank for International Cooperation (JBIC) Maeda Tadashi.

Expressing his pleasure at witnessing the robust growth of the Vietnam-Japan relationship since the two nations elevated their ties to a Comprehensive Strategic Partnership for peace and prosperity in Asia and the world last year, the Deputy PM highlighted the two sides’ growing political trust and economic cooperation. They are also expanding their cooperation to emerging areas such as energy transition, green transition, digital transformation, and semiconductor technology, he noted.

Lauding the JBIC and the chairperson for their effective cooperation and important contributions to Vietnam’s socio-economic development and the bilateral relations, Son said the bank has engaged in policy dialogues with Vietnamese ministries and agencies and provided loans to facilitate Japanese investment in key infrastructure and large-scale energy projects in Vietnam.

Expressing particular interest in the “Asia Zero Emission Community” (AZEC) initiative, Maeda said he hopes for favourable conditions for the utilisation of the mechanism in Vietnam’s energy transition activities.

Son said Vietnam highly evaluates Japanese former Prime Minister Fumio Kishida’s AZEC initiative. In 2023, the two countries established an AZEC working group, which has already held its first meeting to review progress and plan activities for this year.

To ensure the effective implementation of the group, Son urged both sides to clarify specifics such as project timelines, scales, and performance methods, the roles and responsibilities of stakeholders, and related coordination and monitoring mechanisms.