On 14 October 2025, in Hanoi, the Secretariat for the Implementation of the Political Declaration Establishing a Just Energy Transition Partnership (JETP) held a meeting with the International Partners Group (IPG), the Glasgow Financial Alliance for Net Zero (GFANZ) and the United Nations Development Programme (UNDP) as the JETP Secretariat Support Agency to update on recent cooperation and the future plan of activities under the JETP framework in order to effectively contribute to national energy security, reducing greenhouse gas emissions, and promoting support from IPG, GFANZ and international partners.
Photo: JETP Secretariat
Vice Minister of the Ministry of Industry and Trade Nguyen Hoang Long, as representative of the Standing Agency of the JETP Secretariat, chaired the meeting. Participation included members of the Secretariat and representatives from relevant ministries, sectors, and domestic agencies: the Government Office, the Ministry of Finance, the Ministry of Foreign Affairs, the Ministry of Agriculture and Environment, the Ministry of Public Security, the Ministry of Science and Technology, the Ministry of Construction, the Ministry of Justice, and the State Bank of Vietnam; Corporations: Electricity, Coal and Minerals, Industry-Energy, Petroleum, and relevant units of the Ministry of Industry and Trade.
MOIT’s Vice Minister Nguyen Hoang Long opening the meeting. Photo: JETP Secretariat
On the international side, the meeting was attended by representatives of the IPG, including Mr. Iain Frew UK Ambassador to Vietnam, and Mr. Rafael de Bustamante EU Delegation Deputy Head of Mission, as IPG co-chairs, and representatives of GFANZ and representatives of UNDP Vietnam.
At the meeting, delegates are updated from the parties on the implementation of the JETP since the July 2025 meeting. The JETP Secretariat has received and assessed a total of 45 project proposals submitted by ministries, sectors, and localities. IPG, GFANZ, and the Ministry of Industry and Trade have agreed that there are 37 projects suitable for JETP alignment after reviewing and screening, bringing the total number of JETP-aligned projects so far to 44 proposed projects with the total capital need of over 10 billion USD.
Mr. Rafael de Bustamante EU Delegation Deputy Head of Mission. Photo: JETP Secretariat
Among 8 IPG projects identified from the JETP Resources Mobilization Plan (RMP), 3 projects have progressed through partnerships with IPG development finance institutions. This includes a 78 million USD loan to strengthen the power transmission grid along the former Binh Duong province; a loan of 93 million USD for the Tri An Hydropower Plant Expansion project; and a loan of 557 million USD, in final negotiations for the Bac Ai Pumped Storage Hydropower Plant project.
Mr. Iain Frew UK Ambassador to Vietnam. Photo: JETP Secretariat
In August 2025, IPG sent 23 project proposals (IPG23 List) for consideration and inclusion in the JETP project list. The JETP Secretariat has been collecting formal comments from line ministries and agencies on the IPG23 List, of which there are 17 technical assistance projects and 6 investment projects, totaling to over 420 million USD from 6 IPG partners.
The parties continue to facilitate technical discussions and information exchanges between investors and project owners to facilitate the financing of bankable projects.
At the meeting, the delegates also discussed Resolution 70/NQ-TW dated August 20, 2025, of the Politburo on ensuring national energy security to 2030, with a vision to 2045, and proposed adjusting cooperation activities within the framework of JETP where needed, to support the implementation of Resolution 70-NQ/TW.
Photo: JETP Secretariat
The representative of the Ministry of Finance also updated the new points of Decree 242/2025/ND-CP on the management and use of official development assistance (ODA) and foreign concessional loans, which may help to remove difficulties and obstacles in accessing ODA and concessional loans for JETP projects.
With support from the United Kingdom and the European Union, the Secretariat Support Agency, UNDP, will continue to support the operation of the JETP Secretariat, including through conducting the first biennial review of JETP progress.
The JETP Secretariat affirmed that it continues to closely coordinate and cooperate to mobilize resources from international partners for just energy transition; collaborate and support removing difficulties and obstacles arising in the process of implementing JETP.
Photo: JETP Secretariat
International partners and the Vietnamese side agreed that it is necessary to accelerate the progress of mobilizing resources for JETP-aligned projects to contribute to supporting the just energy transition in Vietnam and ensuring national energy security in the spirit of Resolution 70-NQ/TW. In order to improve the effectiveness of the implementation of the JETP, all parties agreed that JETP focus its resources to the prioritized areas identified in RMP such as new renewable energy development, power generation and grid upgrading, energy storage projects as well as energy efficiency. IPG, GFANZ and UNDP should proactively and directly discuss and exchange in order to support financial mobilization, to attract the private sector to participate in energy development, and to access official development assistance and foreign concessional loans for energy transition.
Source: JETP Secretariat Press Release
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