MIL-OSI Asia-Pac: Vietnam, Canada seek to expand partnership in clean energy development

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Source: Socialist Republic of Vietnam

The event was organised by the Vietnamese Embassy in Canada, in coordination with the Ministry of International Relations and La Francophonie and the investment promotion agency of Quebec.

Addressing the event, Vietnamese Ambassador to Canada Pham Cao Phong emphasised that Vietnam – one of the countries hardest hit by climate change – has realized the importance of transitioning to a new energy structure, where green energy sources play an increasingly important role.

Vietnam commits to increasing the ratio of renewable energy sources in the total primary energy supply to 20% by 2030 and 30% by 2045, he said, adding that the transformation in the energy sector requires not only large capital investment in infrastructure, but also technical expertise and technologies – an area where cooperation between Vietnam and Canada can play an important role.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that Vietnam and Canada are founding members, not only promotes trade but also facilitates closer cooperation in other areas between the two countries, including energy, he noted.

The diplomat suggested foreign investors come to the Vietnamese market to explore new potentials, saying that Vietnam always creates favourable conditions for foreign investors to do business and invest in the country, including clean and renewable energy development.

For his part, Eric Marquis, Assistant Deputy Minister of the Ministry of International Relations and La Francophonie, said the workshop is part of Quebec’s Indo-Pacific strategy, which is expected to be announced soon.

This strategy marks a step forward in bilateral relations, affirming the importance of the Indo-Pacific to Quebec, he stressed.

Marquis affirmed that Vietnam is an important emerging market for Quebec, keeping the position of Quebec’s largest partner in Southeast Asia in 2020, with two-way trade increasing by over 440% from 2011 to 2020.

Vietnam is also part of the process of reshaping global value chains, especially in Asia, he added.

The Quebec side expressed its hope that this workshop will not only mark the start of the building of a closer relationship between Vietnam and Quebec, but also launch a dynamic partnership in the energy field in the context that Vietnam is one of the most efficient electricity markets in Southeast Asia.

MIL OSI Asia Pacific News