Consultation workshop on the draft JETP - Resource Mobilization Plan

Speech by Ms. Ramla Khalidi, UNDP Resident Representative in Viet Nam

August 11, 2023

Excellency, Mr. Le Cong Thanh, Vice Minister of Natural Resources and Environment, 
Excellency, Mr. Iain Frew, British Ambassador to Viet Nam
Mr.  Thomas Wiersing, Chargé d’Affaires of the EU Delegation to Viet Nam,
Distinguished representatives from MONRE, and local governments,  
Colleagues representing IPG, GFANZ, DPs, Private sector, and Media,
Ladies and Gentlemen,

I am honoured to join this important consultation workshop on the draft Resource Mobilization Plan (RMP). This is an important milestone in the realization of the Just Energy Transition Partnership (JETP) in Viet Nam.

First off, I’d like to congratulate the Government of Viet Nam (GOVN) and the International Partners Group (IPG) for the progress made in preparing for the implementation of the JETP. This includes the establishment of the JETP Secretariat; the preparation of the JETP Scheme of the Government to operationalize the Political Declaration; and the development of a set of priority Concept Notes for strategic programme areas.

Viet Nam’s success in charting a clear path towards a green, low carbon, and climate resilient economy is not only imperative for Viet Nam’s prosperity. It is also a test case that can demonstrate the effectiveness of joint global action.  That is the power of the Just Energy Transition Partnership.

Over the past few months, UNDP has supported the preparation of the JETP Scheme of the Government and the zero draft of the Resource Mobilization Plan. We are very happy that these are presented today.

We know, this would not have been possible without the full trust and confidence of both the Government and the IPG. And we are truly grateful for that trust. It will be our privilege to continue to support the JETP Secretariat in the coming time.

Looking ahead, we await the Government’s imminent approval of the JETP Scheme, so that ministries and localities can mainstream JETP into their strategies and plans and focus on implementation.

We recognize that the Zero Draft Resource Mobilization Plan has some gaps, especially in the areas of finance and priority setting. We welcome the guidance, inputs and comments from relevant Government agencies, members of the IPG and all partners here today, in order to arrive at a comprehensive and viable plan for implementation in the coming 3-5 years. By engaging key ministries, IPG members, financial institutions, the private sector, NGOs and others we hope to solicit the necessary feedback in this process.

The success of the energy transition will depend on the ability to mobilize adequate financing. The initial mobilization of $15.5 billion US dollars by IPG members and GFANZ is very encouraging. However, we know it represents only a fraction of the energy transition needs in Viet Nam.

The investments required for power development alone, is $135 billion up to 2030. International as well as domestic private sector finance will continue to be essential. To catalyse and unlock those resources, policy reforms, de-risking and innovative finance will be vital.

Ladies and Gentlemen, 
We commend the Government of Viet Nam for putting in place a good implementation structure for the JETP, which will receive overall guidance from the Prime Minister and the “National Committee for implementation of COP26 Commitments”, as well as direct engagement of the leaders of MONRE, MOIT, MPI and MOF, in full alignment with the ministries’ mandates. The next step requires the establishment and operation of the Technical Woking groups in key ministries, aiming to formulate and implement their work plans for the next 3-5 years.

Finally, allow me to reiterate the importance of not losing focus on the “just” elements of the energy transition. This concerns the essential support to and protection of workers and other affected vulnerable groups, ensuring affordable energy for all, sustaining and developing the local economy, and generating green and decent jobs from women and men. To this end, engagement of key ministries such as MOLISA and MOET is critical. Inclusive dialogue and active participation and consultation with affected people and local communities is also essential.

We look forward to an open and informative discussion so that we can continue supporting MONRE and IPG in finalizing the JETP-RMP in the coming weeks for submission to the Government soonest.

UNDP is committed to work closely with all key Government ministries, the IPG co-leads and members, GFANZ, the private sector and NGOs to ensure the successful implementation of the JETP.
I wish you all good health and success!

Xin Cam On.