France to Finance Vietnam’s Energy Transition EUR500M in Next 5 Years

France will offer Vietnam a financial package worth EUR500 million ($522.9 million) in support of its energy transition in the next five years under the Just Energy Transition Partnership (JETP), new French Ambassador to Vietnam Olivier Brochet said in a press conference on October 3.

Stressing that as his first priority in his three-year tenure in Vietnam, the ambassador said that France will accompany Vietnam in addressing two great challenges, climate change response and biodiversity protection.

Vietnam set a goal of net-zero emissions by 2050, and France sticks to its viewpoint that all COP26 commitments must be executed, including wealthy countries’ support for developing nations, he affirmed.

The second priority is that France will help Vietnam develop its economy to meet environmental, social, and governance (ESG) criteria, thereby effectively optimizing the EU-Vietnam Free Trade Agreement.

The diplomat’s third target is to promote French businesses to provide Vietnam with the best products of all fields, including defense, security, aircraft, pharmacy, agriculture, and processed food.

The fourth priority covers the enhancement of bilateral cooperation on the global scale via forums involving both Vietnam and France in order to advance shared values such as respect for sovereignty and international law, Mr. Brochet added.

In response to a question by Tuoi Tre (Youth) newswire about the possible semiconductor cooperation, the ambassador said he would back the two countries in forming collaboration in this regard.

He unveiled that the two sides are in talks for many energy contracts and agreements that will be announced soon. (Tien Phong, Lao Dong, Tuoi Tre, Kinh Te Do Thi, VietnamNet)