The Minister of Industry and Trade, Nguyen Hong Dien, had a bilateral working session with the Minister responsible for Climate Change and Energy of Australia, Chris Bowen. Photo: MOIT
At the working session, the two Ministers shared that the two countries have a lot of potential for cooperation in the energy sector, especially in renewable energy.
Minister Chris Bowen shared information about the role of offshore wind power, Australia’s strengths in supplying fuels such as coal, gas, LNG for electricity production, and emphasized the new cooperation targets between the two countries towards a Comprehensive Strategic Partnership framework.
The warm reception of Australia in general, and the interest of Australian businesses in the Vietnamese market in particular, were highlighted by Minister Nguyen Hong Dien at the Business Forum held on the same day. He highlighted the strengths of Vietnam’s population, high energy demand, and natural advantages for solar and wind energy production, which are potential investment opportunities in the energy sector for Australian businesses.
Minister Nguyen Hong Dien expressed his hope that Australia will cooperate with Vietnam in the exploitation and processing of minerals, investment and production, and human resource training in the renewable energy sector.
Vietnam’s population, high energy demand, and natural advantages for solar and wind energy production are potential cooperation opportunities in the energy sector for Australian businesses – Minister Nguyen Hong Dien
Enhancing cooperation in renewable energy
With Australia’s strengths in finance, technology, and experience in this field, Vietnam hopes that Australia will cooperate in the exploitation and processing of minerals, investment and production, and human resource training in the renewable energy sector… with the principle of mutual benefit and support Vietnam in achieving the goal of energy transition, Net Zero by 2050.
At the end of the working session, Minister Nguyen Hong Dien emphasized that the Memorandum of Understanding on establishing a Ministerial-level dialogue mechanism on energy and minerals has been signed and presented in the presence of the two Prime Ministers. This will be an important cooperation mechanism in the energy sector.
With this mechanism, both sides will have more opportunities for exchange and further enhance cooperation in the energy and mineral sectors. It also serves as a basis for Australia to continue to be a supplier of important and sustainable resources such as coal, LNG for electricity, energy, and fertilizer production in Vietnam.
The Special High-Level Conference commemorating the 50th anniversary of ASEAN-Australia relations is being held in Melbourne, Australia from 5-6 March with the participation of ASEAN leaders, Australia, and the ASEAN Secretary-General. Prime Minister of Timor-Leste is invited to attend this conference as an observer.
The theme of the conference “Partners for the Future” is organized in the context of dynamic cooperation between ASEAN and Australia in many fields. This is an opportunity for both sides to review the 50-year relationship and exchange measures to promote substantive, effective, and in line with the Comprehensive Strategic Partnership established in 2021.
During the conference, on the morning of March 5, 2024, Prime Minister Pham Minh Chinh attended the Vietnam-Australia Business Forum. Speaking at the Forum, the Prime Minister announced with pleasure that on this visit, the two sides are expected to declare the elevation of bilateral relations to a deeper, more substantive, and effective level.
The Prime Minister expressed his expectations for “5 advantages” when bilateral relations are upgraded: better political trust, higher economic, trade, and investment cooperation, strong cooperation in science, technology, innovation, cooperation in education and training, cultural exchange, and people-to-people relations, and strengthened cooperation in tourism and labor.
The Prime Minister affirmed that the Governments of the two countries will continue to create favorable conditions for this cooperation. The Government of Vietnam will protect the legitimate rights and interests of enterprises and investors, continue to promote 3 strategic breakthroughs (institutional, infrastructure, and human resources), reform and streamline administrative procedures, and reduce costs for investors. The Prime Minister suggested that Australia support Vietnam in these 3 strategic breakthroughs.
