The TEV project, with a total value of up to 4 million EUR, funded by the Federal Ministry of Economic Cooperation and Development (BMZ), will focus on three main areas to support Vietnam in the energy transition process, including: providing experience and practical lessons to help the Ministry of Industry and Trade study solutions to realize international commitments on sustainable energy; building a new legal and regulatory framework, creating a solid foundation for energy transition activities; equipping experts and managers with advanced technology expertise, contributing to the modernization of Vietnam's energy sector.

Scene of signing ceremony. Photo source: GIZ

Ms. Michaela Baur, Country Director of GIZ Vietnam shared: "TEV is built on a solid foundation of more than 15 years of successful cooperation between the Ministry of Industry and Trade and GIZ. We have implemented impactful projects such as the Smart Grid project or the recently concluded Commercial and Industrial Rooftop Solar project. Germany is committed to continuing to share its expertise and experience to ensure that it supports Vietnam in achieving a sustainable, affordable, and reliable energy future."

The TEV project plays a fundamental role in the technical cooperation between Vietnam and Germany. In addition, the project is also in line with the objectives of the Just Energy Transition Partnership (JETP) between Vietnam and the G7+ countries, as outlined in the JETP Resource Mobilization Plan.

Representatives of ERAV and EREA affirmed the importance of the TEV project for Vietnam, especially in the context of the country facing challenges in reducing emissions and renewable energy development. The cooperation with GIZ will help both agencies strengthen their capacity and access international experiences in the field of the energy transition.

The TEV project is designed to create a long-term and comprehensive impact in the field of energy transition in Vietnam. The project is expected to not only contribute to promoting sustainable development but also support Vietnam's transition to a green economy, reduce dependence on fossil fuels, and move towards the target of net zero emissions by 2050. This is also part of the overall effort to meet Vietnam's international commitments to combat climate change while enhancing the country's position in global energy forums.

Translator: Hải Yến