Promoting JETP: Turning Commitments into Key Energy Projects

2 April 26
| JETP, SETP News

Deputy Minister of Industry and Trade Nguyen Hoang Long emphasized the urgent need to translate the commitments under the Just Energy Transition Partnership (JETP) into implementation through specific, highly feasible projects.

On the afternoon of March 27, 2026, at the headquarters of the Ministry of Industry and Trade, Deputy Minister Nguyen Hoang Long chaired a meeting with the International Partners Group (IPG), partners from the United Kingdom, the European Union (EU), and the Glasgow Financial Alliance for Net Zero (GFANZ) to review the progress of the implementation of the Just Energy Transition Partnership (JETP).

Attending the meeting, on the side of the Ministry of Industry and Trade were representatives from the Electricity Authority, the Department of Foreign Market Development, and the Agency for Innovation, Green Transition and Industrial Promotion; on the side of the international partners were the JETP envoys of the United Kingdom and the EU, representatives of GFANZ, the British Ambassador to Vietnam, the Deputy Head of the European Union Delegation to Vietnam, and the Resident Representative of the United Nations Development Programme (UNDP) – the agency supporting the JETP Secretariat.

Deputy Minister Nguyen Hoang Long called for accelerating the implementation of JETP in the coming period, emphasizing the need to turn commitments into concrete and actionable projects.

Speaking at the meeting, Deputy Minister Nguyen Hoang Long affirmed that Vietnam considers energy transition a key strategic orientation closely linked to the goals of green growth and sustainable development. At the current stage, the focus needs to shift from broad-based commitments to substantive and effective implementation.

One of the key issues highlighted was the need for investment in grid infrastructure. Vietnam assessed this as a critical factor determining the capacity to absorb and develop renewable energy. Without a sufficiently strong and synchronized power grid system, renewable energy sources would be difficult to operate effectively and could even pose risks to the national power system.

In recent years, the Government has focused on removing bottlenecks related to investment mechanisms, thereby creating favorable conditions for enterprises to access capital and implement large-scale projects. The Deputy Minister proposed that partners continue to closely coordinate in selecting and preparing suitable projects, particularly power transmission grid projects under Power Development Plan VIII, including HVDC transmission lines with EVN-NPT serving as the implementing focal point.

Vietnam assessed investment demand for grid infrastructure as a critical factor determining the capacity to absorb and develop renewable energy.

Deputy Minister Nguyen Hoang Long welcomed the list of additional technical assistance and investment projects proposed by the IPG, including the IPG23 list. Notably, this includes the technical assistance project for the National System and Market Operator Company Limited (NSMO) to develop the Global Renewable Energy and Grid Systems Expansion Laboratory (GREEN Lab) – a project currently receiving support from the United Kingdom.

Regarding the implementation plan in the coming period, the parties agreed that within the next three months they will coordinate to review and identify a list of priority projects from: the list of 44 projects aligned with JETP; nationally significant energy projects; projects under the revised Power Development Plan VIII; and the IPG23 list. The objective of this review is to focus on mobilizing and disbursing the US$7.75 billion in financing pledged by the IPG.

Representatives of the IPG and GFANZ reaffirmed their commitment to continue accompanying Vietnam in implementing JETP.

Regarding financial resources, the IPG stated that it will continue coordinating with GFANZ to clarify mechanisms for mobilizing capital from the private sector. At the same time, the parties will soon issue guidance documents to help project owners access blended finance from the IPG, GFANZ, as well as funding managed by individual IPG members.

International partners highly appreciated Vietnam’s efforts to improve the investment environment and affirmed that they will continue to accompany the country by providing technical and financial support to advance the just energy transition process.

The outcomes of the meeting will be reported in a timely manner to support implementation orientation immediately after the new Government begins operation in early April 2026.

Some images from the meeting

The meeting took place in the context of the energy transition process facing an urgent need to accelerate, especially as the global energy market continues to experience complex fluctuations.

His Excellency Iain Frew – British Ambassador to Vietnam – delivered remarks at the meeting.

Mr. Rafael de Bustamante – Deputy Head of the European Union Delegation to Vietnam – delivered remarks at the meeting.

Mr. Tibor Stelbaczky, Principal Adviser on Energy Diplomacy and JETP Envoy, delivered remarks at the meeting.

Mr. Christopher Taylor – the United Kingdom’s JETP Envoy – delivered remarks at the meeting.

Mr. Hoang Van Tam – Head of the General Affairs and International Cooperation Division, Agency for Innovation, Green Transition and Industrial Promotion, Ministry of Industry and Trade – delivered remarks at the meeting.