Việt Nam – RoK promote co-operation on energy investment and green growth

Việt Nam – RoK promote co-operation on energy investment and green growth

After more than three years of implementation, the project has achieved practical results, contributing to promote the investment market for energy-saving solutions in the industrial sector, supporting the implementation of the national Green Growth Action Plan.

The scene of the workshop. — Photo nhandan.vn

The Việt Nam–Republic of Korea project on energy efficiency investment and green growth has delivered practical results after more than three years of implementation, helping promote the investment market for energy‑saving solutions in the industrial sector and supporting the national Green Growth Action Plan.

It has also strengthened the capacity of government agencies, enterprises and financial institutions to access, appraise and deploy energy‑saving projects.

The information emerged at a workshop reviewing the Việt Nam–RoK co‑operation project on energy efficiency investment and green growth in Hà Nội on Thursday.

The workshop was organised by the Ministry of Industry and Trade (MoIT), in co‑ordination with the Ministry of Finance and the Korea International Cooperation Agency (KOICA).

In opening remarks, Nguyễn Thị Lâm Giang, director general of the MoIT’s Agency for Innovation, Green Transition and Industry Promotion (IGIP), emphasised that the project, funded by the RoK Government through KOICA, clearly demonstrated the friendly trustworthy and effective co‑operation between Việt Nam and RoK.

Giang stated the project’s success had created an important foundation for scaling effective models and good practices, contributing to the formulation of mechanisms and policies that encourage investment and expand the energy‑saving and energy‑efficient market in Việt Nam in the coming time.

Implemented nationwide during 2021–2025 under the MoIT, with IGIP as project owner, the initiative aims to contribute to national targets of reducing energy intensity, ensuring energy security for socio‑economic development and cutting greenhouse‑gas emissions.

The MoF is responsible for implementing the components related to green growth.

Lee Byung Hwa, KOICA country director in Việt Nam, said that through the project, Việt Nam and RoK had worked closely together to improve energy efficiency in industry, build a green financial foundation and lay the groundwork for sustainable development.

The project developed and revised energy‑consumption norms and technical guidelines for key industries such as steel, cement, paper and textiles; implemented capacity‑building programmes with many domestic and international experts; and shared Korea’s knowledge and experience on energy efficiency and green growth with multiple stakeholders.

In addition, the project conducted feasibility studies at enterprises, supported localities in developing inputs for green‑growth plans, provided recommendations and specific tasks thus laying the foundation for research results to be transformed into investment while spreading knowledge and promoting mindset and behavioural change toward green growth and sustainable development.

Through research on public investment for climate and green investment guidelines, the project also contributed to building an institutional framework to encourage financial institutions and private enterprises to engage in future green growth projects.

Lee Byung Hwa stressed that these results could not have been achieved by a single organisation’s effort but are the outcome of the strong commitment of the Vietnamese Government, active participation of domestic enterprises and experts and dedicated contributions from agencies and experts from both Việt Nam and South Korea.

Speaking at the workshop, Lê Việt Anh, deputy director‑general of the MoF’s Department of Sectoral Finance and Economics, said over more than three years the project had produced practical outcomes.

Notably project implementation agencies co‑ordinated with localities to develop inputs, finalise and issue Green Growth Action Plans in 10 provinces.

At the same time, studies on public investment for climate and green investment guidelines helped establish an institutional framework that encouraged enterprises and financial organisations to participate more deeply in green projects, he said.

Alongside this numerous communication and training activities were organised to raise public awareness of green growth and sustainable development.

Anh affirmed that the MoF was committed to continuing close co‑ordination with the MoIT, other ministries, local authorities and the business community while also leveraging international co‑operation resources to refine policies, create an enabling legal framework and mobilise and efficiently use green finance resources. 

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