The European Union (EU) will continue its sturdy support for Vietnam’s efforts towards the target of net zero emissions by 2050, said Myriam Ferran, Deputy Director-General of the European Commission (EC)’s Directorate-General for International Partnerships.
Speaking at a media briefing in the south-central province of Ninh Thuan on May 29, Ferran said the Global Gateway strategy is an important initiative of the EU implemented through a Team Europe approach and aiming to promote sustainable development, peace, and stability around the world.
Its goal is to promote smart, clean, and secure links worldwide and assisting partner countries to achieve the Sustainable Development Goals, she noted, saying the strategy’s priorities include digital technology, energy, transport, health, education, and research.
This strategy generates numerous cooperation chances for Vietnam and the EU in the areas of shared interest, she said.
The official emphasized that Vietnam is an important partner of the EU, which will keep helping with the country’s target of net zero emissions by 2050, adding the EU has been assisting Vietnam on the path of energy transition through the Just Energy Transition Partnership (JETP).
In Ninh Thuan, the Bac Ai pumped-storage hydropower project is a typical example and a key project in the Global Gateway strategy. The EU and its member states pledge to provide preferential loans and aid packages to give technical support to this project so as to build the first pumped-storage hydropower plant of Vietnam in the province, according to Ferran.
During their visit to Ninh Thuan, Ferran and other members of the EU delegation made a fact-finding trip to learn about opportunities and challenges of the province as an energy transition center.
Speaking highly of local energy and renewables development, she said that despite numerous difficulties caused by climate change impacts, Ninh Thuan has managed to turn challenges into potential and advantages to establish itself as an energy and renewables center of the country.
To carry out the Global Gateway strategy, the EU and the French Development Agency (AFD), with support from the KfW Development Bank of Germany and the Asian Development Bank (ADB), have supplied funding for the Bac Ai pumped-storage hydropower project.
The 1.2GW project, invested by the Vietnam Electricity (EVN) group, has total investment of VND21 trillion ($824.9 million). It was launched in early 2020 and is expected to be completed in 2029.
Aside from this project, the EU has also assisted Ninh Thuan in the fields of green and digital skill education and training.
(VietnamPlus [1])