On September 8, 2022, Minister of Industry and Trade Nguyen Hong Dien had a meeting with Singaporean Minister of Industry and Trade Gan Kim Yong and the second Minister of Finance and Economy of Brunei Dato Amin Liew on the sidelines of the Ministerial Conference under the Indo-Pacific Economic Partnership (IPEF), which was held on 8-9 September 2022 in Los Angeles, USA.
At the meeting, the Ministers focused on discussing an initiative to strengthen clean energy collaboration. This is an initiative jointly proposed by the three countries, with the aim of promoting the energy transition towards a low-carbon economy in the region, promoting energy security, as well as implementing cooperation activities, technical assistance, capacity building, research and development. The main activities of the initiative include: (i) investment in renewable energy sources; (ii) building grid interconnection between countries in the region; and (iii) Developing a network of energy research centers.
The three Ministers agreed to accelerate the formulation and completion of this initiative so that it can be launched around early 2023. In addition to the joint cooperation between the three countries, the involvement of other partners with technical and technological potentials as well as financial resources such as the United States will also contribute to the rapid realization of the goals of the initiative.
Minister Nguyen Hong Dien highly appreciated the spirit of close cooperation among ASEAN countries and affirmed that the initiative is consistent with the contents of the Pillars of Clean Economy and Supply Chains under the IPEF. Viet Nam also believes that this initiative can create a premise to promote and link more closely important partnerships in the region and in the world, especially among ASEAN countries in renewable energy, a field of high urgence and importance at the moment, thereby creating rapid and practical benefits for businesses and people of the countries.
At the end of the meeting, the three Ministers agreed to continue to closely coordinate and soon establish a specialized technical working group to carry out related work, aiming to soon generate concrete and practical outcomes.
On the sidelines of the IPEF Ministerial Conference, Minister Nguyen Hong Dien, Minister Gan Kim Yong and Minister Dato Amin Liew also met with US Secretary of Commerce Gina Raimondo to discuss this initiative. Ms. Raimondo highly appreciated the practicality and timeliness of the initiative, especially in the context that the regional supply chain was broken and heavily affected due to the pandemic and other displacements in the world recently. Secretary Raimondo said that the US will actively consider this initiative, creating a basis for quadrilateral collaboration in the field of energy transition.
MOIT
