Vietnam Has Ample Room for Renewable Energy Development: WB Official
Vietnam has great potential for renewable energy, which is a great opportunity for the country promote energy transition and become self-sufficient in energy sources, said World Bank’s Vice President for East Asia and Pacific Manuela V. Ferro.
Speaking to Vietnamese Minister of Natural Resources and Environment Dang Quoc Khanh in Hanoi on November 13, the senior official said that WB desires to join hands with Vietnam to deploy more large-impact projects in the energy sector.
The WB is also ready to accompany Vietnam in developing projects to adapt to climate change and enhance livelihoods in the Mekong Delta region, Ms. Manuela V. Ferro said.
She stated that the WB will develop programs for focal units of the two agencies to develop specific cooperation frameworks. The WB official also suggested Vietnam expand its legal frameworks to mobilize resources from the private sector and receive financial and sci-tech solutions.
For his part, Minister Khanh proposed the WB assist Vietnam in executing the “Implementing the carbon market in Vietnam” project and the “Action plan to reduce methane emissions until 2030.”
For water resources, Vietnam hopes that the WB would support in seeking cross-border water resources management solutions, researching a comprehensive cooperation project on restoring polluted rivers with the participation of relevant ministries, agencies, and localities, he said.
Regarding renewable energy development and transition, Minister Khanh wished to attract more funding via the WB to support Vietnam in developing electricity and exploiting renewable energy, such as offshore wind power.