Japan pledges $20 bln investment in clearn energy in Vietnam
Japan plans to invest up to $20 billion in low-carbon energy projects in Vietnam amid a regional push for net zero emissions, Japanese broadcaster NHK reported.
The plan was revealed at a meeting in Hanoi on Wednesday between Deputy Minister of Industry and Trade Nguyen Hoang Long and Japanese Ambassador to Vietnam Ito Naoki.
Deputy Minister of Industry and Trade Nguyen Hoang Long shakes hand with Japanese Ambassador to Vietnam Ito Naoki at a meeting in Hanoi on March 5. Photo courtesy of NHK.
The Japan Bank for International Cooperation (JBIC) and private companies will lead the investments into 14 projects, including wind power plants.
“Japan wants to provide maximum support so Japanese firms can take advantage of these opportunities and participate in Vietnam’s decarbonization market,” said Ambassador Ito Naoki.
In a separate meeting with the Japanese diplomat in February, Deputy Prime Minister Tran Hong Ha called for Japan’s support in implementing measures to achieve Vietnam’s net-zero emissions goal by 2050. This includes collaboration through the Asia Zero Emission Community (AZEC) initiative under the Joint Crediting Mechanism (JCM).
To date, Japan has provided Vietnam with over $20 billion in loans, nearly $750 million in non-refundable aid, and $1.34 billion in technical support.
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