Cooperation Opportunities For Norwegian Businesses With Vietnamese And ASEAN Partners

Hilde Solbakken, Norwegian Ambassador to Vietnam.

What financial and technical support does Norway provide to Vietnam in offshore wind power industry?

Norway provides financial support to Vietnam through multilateral mechanisms, including the Green Climate Fund and the Global Environment Facility. Norwegian businesses are also willing to make long-term and large-scale investments in Vietnam.

On a bilateral basis, Norway is supporting Vietnam in building marine spatial planning.

Support capital is provided through UNDP Vietnam. Marine spatial planning is an important foundation for developing the offshore wind power industry, including the supply chain.

Norway, along with G7 countries and Denmark, is a member of the International Partners Group in the Just Energy Transition Partnership (JETP) with Vietnam. As a JETP partner, Norway is looking forward to joining hands with Vietnam and international partners to contribute to efforts to transition to renewable energy in Vietnam.

A new industry like offshore wind requires a new regulatory framework. The Norwegian Embassy, Innovation Norway and Norwegian businesses are working closely with international partners to support the Vietnamese Government in this process.

Norway is also leading the development of a supply chain report for Vietnam's offshore wind power industry. This report will give a clearer picture of the industry's potential for Vietnam in the North and South.

Photo: VGP

Norway is a member of the International Partners Group in the Just Energy Transition Partnership (JETP) with Vietnam, what does this mean for Norwegian and Vietnamese cooperation, as well as the development of Vietnam's wind energy industry particularly?

JETP will make positive contributions to Vietnam's wind energy industry and I believe that Norway-Vietnam cooperation will be an important part of that.

Within the framework of JETP, the Government of Vietnam and international partners are developing a capital allocation plan.

Offshore wind is likely to be a priority sector in JETP. JETP helps strengthen cooperation and coordination between international partners in the wind energy industry. This can boost efforts to carry out the 8th Power Plan, while attracting the private sector to participate in implementing this common goal.

Norway's contribution to JETP is made through Norfund. Norfund is the Norwegian Investment Fund for developing countries.

Norfund has established a separate Climate Investment Fund, of which Vietnam is a priority country. Norfund is willing to invest up to US$250 million in offshore wind projects and other energy projects to support the JETP implementation process.

Part of Norfund's mission is to create new jobs and improve the lives of workers through investments in businesses that help accelerate the energy transition.

What do you expect from strengthening sustainable cooperation between Norway and Vietnam in the field of offshore wind power in the next decade? What is your message for the wind energy industry in Vietnam, as well as ASEAN countries?

I believe that we will witness continued cooperation between Norwegian companies such as Equinor, Scatec, Mainstream RP and Vietnamese partners. With many similarities in the development history of the oil and gas industry, Norwegian and Vietnamese companies have suitable and compatible capabilities.

Similarly, in the offshore wind power supply chain, the technical level of the Vietnamese workforce is a comparative advantage that can help Vietnam become a manufacturer and exporter of quality offshore wind equipment for regional and world markets.

I hope we will see the results of these collaborative efforts, between government and the private sector, between Vietnam and international partners to overcome obstacles along the way.

Norway will continue to support Vietnam in building and developing a legal framework for offshore wind power, including marine spatial planning.

In my opinion, an interesting area to explore is the possibility of forming a common energy market in ASEAN in the future. Laos is currently an exporter of renewable energy in the region and Vietnam also has ambitions to export energy from offshore wind.

In Northern Europe, we had an active energy market for many years, in which Norway is the main supplier, and I am sure Norway will have relevant experiences to share.

Green energy conversion is a necessary process to combat climate change, so I wish the wind power industry in Vietnam and ASEAN countries great success in the future.

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