EuroCham GGSC’s Speech for the Bilateral Meeting organized by the Central Economic Commission

Dear Mr. Nguyen Duc Hien, Vice-Chairman of the Central Economic Commission and leaders and representatives of the affiliated departments. (Mr. Nguyen Thanh Phong, Chairman)

EuroCham would like to express our sincere appreciation to the Central Economic Commission and honourable colleagues at the Central Committee of the Party for this opportunity to provide the perspectives of the European business community operating in the fields of renewable energy and sustainable development in Vietnam.

EuroCham recognises and supports the priorities of the Government in managing and developing the energy market in Vietnam. We would like to applaud the emphasis of focus areas planning on clean energy development in Vietnam as specified in the Resolution 55 Politburo's Resolution 55-NQ/TW on 11 February 2020 regarding the Orientation of the Viet Nam's National Energy Development Strategy to 2030 and outlook to 2045.

We highly appreciate the visionary stance and direction that are described in the Resolution and the constructive, cohesive regulations described in the Environment Protection Law 2020 regarding extended producers’ and manufacturers’ responsibilities. The Political Bureau of the Central Committee can be assured of our continued support for this strategy.

As all of you may be aware of the Global Climate Change, Vietnam; with long coastline, geographic location, high proportion of population and economic areas located in coastal lowlands and deltas; will be inevitably facing big challenges in coming decades. Vietnam is considered to be one of the countries that will be mostly affected by Global warming and rising of sea level. We are currently resolving tremendous obstacles regarding recovery plan post Covid-19 in Vietnam and energy sector is also exposed and subject to new challenges and opportunities in the context of economic transformation post Covid-19.

From our opinion, the Government and local authorities should adopt various measures to tackle susceptible adverse impact and hazard consequences of global warming while encouraging renewable energy development. According to most of our corporate members, Vietnam has undoubtedly abundant sources of renewable energy and natural resources and has so many potentials for expanding power generation industry using clean source of energy such as solar, biomass, small hydropower, wind on land power and offshore wind power.

By prioritising effective measures to stimulate investment in the clean energy sector to achieve the national energy efficiency strategy goals; We would like to reaffirm that Vietnam will not just only fulfil commitments as described in International Treaties such us the Nationally Determined Contributions of the Paris Agreement COP21 in 2015; but Vietnam will benefit from this opportunity to renovate technologies and adopt good practices from European standards and best initiatives.

We would like to draw your attention to the European Green Deal which is adopted by EU commission in 2019 as an example and a good practice regarding strategic plans for low greenhouse gas emission economy. The mentioned European Green Deal with “One third of the 1.8 trillion-euro investments from the NextGenerationEU Recovery Plan, and partially financed by the EU’s seven-year budget” (Eu Commission) is expected to remove barriers, propose supports to enterprises, associations and all EU citizens to make a energy transition and economy transformation into a more sustainable, more modern, more energy efficient, more competitive business environment and with CO2 emission neutrality by 2050 objective. We would like to encourage Vietnamese central Government and local authorities to open doors for panel discussions, bilateral dialogues and seeking cooperation with European counterparts to exchange good initiatives, best practices and facilitate collaboration in terms of Climate Change adaptation and environment protection.

We would like to reaffirm that the Chapter 13 of the EVFTA also laid down and introduced several rules and regulations regarding Sustainability in trade and manufacturing activities for products imported, exported, and especially made in Vietnam and Vietnam should take advantage of this Free Trade Agreement as well as the EV Investment Protection

Agreement to facilitate more corporation, business activities between domestic companies and European enterprises operating in the energy sector.

We strongly believe that the measures stipulating investment in clean energy sector, supporting enterprises operating in renewable energy development, particularly in electricity production, once implemented in practice will bring positive benefit to the consumers and society; this will also increase the quality of life, improve well-being of citizens, as well as create many new opportunities for innovation, trade activities, investment, and jobs, especially business activities with European partners.

Finally, we would like to reiterate our sincere appreciation to the Central Economic Commission leaders for this opportunity to provide the perspectives of the European business community.

We are looking forward to your support and to working with you and your affiliated Departments directly via bilateral dialogue to cooperate further in the future on the topics of sustainability and clean energy development; especially we are committed to work with you and submit our recommendations and comments for building solid framework following the implementation of the Decree guiding Environment Protection Law.

To continue our presentation, I would like to invite Mr. Tomaso, Chairman of EuroCham Green Growth Sector Committee to share more about current issues of GGSC members regarding Renewable Energy Development Planning – Broadening the base of the industry in the context of Decision 55 and the Draft PDP VIII. And DPPA – the only route to 100% clean energy for European manufacturers; The global climate change challenge and COP 26.