On Thursday 30 May, EuroCham Vietnam hosted a luncheon with the EU Delegation to Vietnam in honour of the visit by Myriam Ferran, Deputy Director General of the European Commission’s Directorate General for International Partnerships (DG INTPA). The event, held in Hanoi, facilitated meaningful discussions on Global Gateway and private sector involvement in large investment schemes, particularly in the climate and energy sectors.
DG INTPA is responsible for formulating and implementing the EU’s international partnerships and development policy. They focus on promoting sustainable development, reducing poverty, and advancing global stability and prosperity.
EuroCham’s attendees were as follows:
- Vice-Chairmen Jean-Jacques Bouflet and Minh Nguyen
- Board Member Giandomenico Zappia, who also serves as Chairman of the EuroCham Vietnam Sustainable Finance Sector Committee (SFSC)
- Board Member Stuart Livesey, who also serves as Co-Chair of the Green Growth Sector Committee (GGSC)
- Nguyen Phan Dinh, Vice-Chairman of GGSC and Head of its Renewable Energy & Energy Efficiency Working Group
- Van Nguyen, Head of EuroCham’s Hanoi Office and External Relations Manager
The EU Delegation was represented by:
- Julien Guerrier, EU Ambassador to Vietnam
- Kristina Bünde, Head of Cooperation Section
- Carsten Schittek, Minister Counsellor and Head of Trade Section of the EU Delegation to Vietnam
- Jesus Lavina, Deputy Head of Cooperation Section
- Brenda Candries, Programme Manager
During her visit from 28-30 May, Ms. Ferran aimed to engage with private sector representatives to discuss the Global Gateway initiative and explore opportunities and challenges for investments in the climate and energy sectors, including renewables and energy efficiency. She sought to understand the rollout, financing options, and challenges of sustainable development projects in Vietnam.
Representatives from The World Bank, Kreditanstalt für Wiederaufbau (KfW), Agence Française de Développement (AFD), and the Asian Development Bank highlighted the difficulties in providing low-rate loans for sustainable development projects in Vietnam, citing regulatory hurdles as the main impediment. This sentiment was echoed by BNP Paribas representatives. From the private banking sector’s perspective, although willing to support sustainability initiatives, regulatory challenges have hindered their ability to lend.
Despite these challenges, participants expressed optimism for Vietnam’s potential, noting anticipated improvements with clearer regulations on green taxonomy and Direct Power Purchase Agreements (DPPA) expected soon.
EuroCham Vice-Chairman Jean-Jacques Bouflet discussed EuroCham’s upcoming trip to Brussels and sought support from Myriam Ferran. While she will not be in Brussels at the beginning of July, she assured her full support for the trip and expressed eagerness for continued cooperation with EuroCham. Ferran encouraged ongoing updates from EuroCham to identify areas where she could assist further.
