Germany invests $5.4 million in Vietnam’s green hydrogen industry
The German International Cooperation Agency (GIZ) and the Vietnamese Ministry of Industry and Trade's oil, gas and coal department have agreed to implement a $5.4 million green hydrogen project.
In order to assist Vietnam in establishing institutional, legal and technical preconditions for green hydrogen-based carbon emission reduction, Germany’s Federal Ministry for Economic Cooperation and Development (BMZ) will facilitate the H2Growth project to build and develop a green hydrogen economy in Vietnam. The German International Cooperation Agency (GIZ) will implement the project with the Vietnamese partner.
The implementation of the H2Growth project will begin in February 2024. Photo coutersy of Ministry of Industry and Trade.
The H2Growth project aims to assist Vietnam's Ministry of Industry and Trade in developing a green hydrogen strategy via three main areas: developing strategies, policies and legal frameworks; capacity building of training and research institutions; and market development promotion.
The project will facilitate the formulation and execution of Vietnam's National Hydrogen Strategy and the development of green hydrogen standards, and laws in the country. It will provide introductory training on the advantages and disadvantages of the green hydrogen economy and provide models for advanced training and vocational training.
The four-year project is scheduled to begin implementation in February 2024.
The H2Growth project will join other programs in providing comprehensive support to the Vietnamese government as it moves toward the national goal of net zero emissions by 2050.
Last month, Climate Fund Managers (CFM) of the Netherlands entered into a strategic cooperation pact with Vietnam’s The Green Solutions (TGS) to promote the hydrogen industry
“We feel at home in Vietnam, where we are seeking to bring green investment…,” Nathan Schmidt, head of CFM’s Asia operations, said at a ceremony in Ho Chi Minh City on signing an MoU with Winnie Huynh, founder and CEO of TGS.
In March, HCMC-headquartered TGS began constructing the first Vietnamese hydrogen plant in the Mekong Delta province of Tra Vinh with an estimated investment of VND8 trillion ($341 million).
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