Vietnam - UK strengthen cooperation in green finance, clean energy, and climate-resilient growth
WVR - The UK - Vietnam Green Investment Forum 2026, organized by the British Embassy in Hanoi and the British Consulate General in Ho Chi Minh City, recently took place to promote bilateral cooperation between the two countries in green finance, clean energy, and climate-resilient growth.
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The forum was attended by over 200 senior leaders from government agencies, the financial sector, businesses, and international organizations promoting green investment in Vietnam.
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| Deputy Minister of Industry and Trade Truong Thanh Hoai speaking at the Forum. (Source: Ministry of Industry and Trade) |
Speaking at the Forum, Deputy Minister of Industry and Trade Truong Thanh Hoai emphasized that the transition to green, low-emission energy is an inevitable path for Vietnam to achieve sustainable development. “With the support and cooperation of the United Kingdom and international partners within the framework of the Just Energy Transition Partnership (JETP), the Vietnamese government is continuing to refine policies, remove barriers, and create favorable conditions to attract investment, especially in the wind power sector,” Deputy Minister Truong Thanh Hoai stated.
British Ambassador to Vietnam Iain Frew affirmed the UK's commitment to fostering new partnerships based on a robust enabling environment to expand viable projects supporting Vietnam's comprehensive and sustainable green transition.
At the Forum, speakers focused on discussing key topics with specific recommendations, including:
Firstly, green transition – Clean Energy & Green Infrastructure: International private finance and blended finance play a crucial role in expanding renewable energy and upgrading the grid, particularly in offshore wind power, battery energy storage systems (BESS), and green infrastructure, relying on clear enabling and end-stage support policies.
Secondly, green finance: Emphasizing the necessity of robust policy frameworks and blended models to unlock significant green capital, requiring close cooperation between development financial institutions (DFIs), commercial banks, and international partners.
Thirdly, adaptive growth: Vietnam is promoting adaptive and nature-based solutions, yet the adaptive finance gap remains a significant challenge.
Fourthly, green innovation: Implementing the Climate Finance Accelerator Program with the support and cooperation of the UK, focusing on enhancing financial cooperation and forward-looking green solutions such as rooftop solar for commercial and industrial sectors, as well as piloting battery energy storage solutions.
Four groups of solutions to promote green transition in finance and energy
To promote green energy transition and implement green finance to boost green growth in Vietnam, delegates proposed four priority solution groups, including: Promoting policy and regulatory reforms to unlock clean energy, green finance, and sustainable infrastructure investment; Enhancing project preparation, particularly for offshore wind, grid, and climate-resilient urban development.
Expanding blended finance tools and partnerships to mobilize large-scale private capital, including small and medium enterprises and women-owned businesses; Enhancing multilateral coordination from government agencies, development financial institutions, and the private sector to turn commitments into practical actions, including climate technology, innovation, and skill development.
The Forum reaffirmed the UK's long-term commitment to supporting Vietnam's green, clean, and sustainable development through the Comprehensive Strategic Partnership, leveraging the upgraded Green Investment Partnership (GIP) Toolkit to support across key policy, technology, finance, and trade areas, aiming towards shared goals of green growth and JETP.
The UK - Vietnam Green Investment Forum 2026 contributed to enhancing dialogue, promoting multilateral coordination, and laying the foundation for specific cooperation between Vietnam and the UK, aiming to transform commitments into practical actions in the green transition and sustainable development process.
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| Overview of the UK - Vietnam Green Investment Forum 2026. (Source: Ministry of Industry and Trade) |
Launch of the UK - Vietnam Green Investment Partnership
Notably, the Forum also launched the UK's upgraded GIP Toolkit along with the "Green Capacity Guide", providing technical support, policy advice, and financial tools to assist Vietnam in achieving its goal of becoming a high-income, net-zero emissions country.
The GIP Toolkit is an enhanced mechanism to implement commitments within the framework of the UK - Vietnam Comprehensive Strategic Partnership, including the Clean Energy and Green Finance Partnership, effectively connecting support resources throughout the investment chain for policymakers, financial institutions, investors, and businesses. This toolkit plays a crucial role in supporting Vietnam in implementing JETP goals in the green transition process.
Announcement of cooperation initiatives within the GIP Framework
Also within the Forum, British Ambassador Iain Frew announced a series of new cooperation initiatives launched to demonstrate the effective application of the GIP Toolkit, including: The Climate Transition Cooperation Program providing technical support for JETP to develop a roadmap for the Global Laboratory on Green Energy Development and a linkage network for the National Power System and Market Operator in Vietnam.
An agreement with the Ministry of Industry and Trade of Vietnam on the "Offshore Wind Acceleration Partnership", a JETP-focused initiative to concentrate on project preparation, supply chain development, and early-stage risk mitigation for offshore wind development, supporting JETP goals and Power Plan VIII; UK PACT's technical support on green finance to build a Sustainable Finance Framework for Vietnam's International Financial Center, inheriting previous activities from TheCityUK...
