Paris (VNA) - Deputy Prime Minister Tran Hong Ha raised some importantmessages regarding the mobilisation of private finance at a debate in the framework ofthe Summit for a New Global Financing Pact in Paris on June 22.

Firstly, Ha affirmed the profit potential and interest ofthe private sector in the renewable energy sector. Therefore, governments needto further facilitate the participation of this sector by ensuring consistency,and synchronisation in strategies and plans to mobilise investments.

Secondly, it is necessary to build standards, complete astable and transparent legal corridor, and renew the financial cooperationmodel between the government and the private sector, Ha stated. 

Thirdly, he stressed the importance of innovating the methodof raising capital from the private sector, developing green financial markets,exchanging carbon credits, supporting technology development and transfer,implementing strategic projects such as renewable energy and hydrogenproduction and smart power transmission.

Fourthly, public investment capital from the governmentshould play the leading role in promoting private investment, and support costs duringthe investment, product consumption, loan guarantee, and risk reduction for theprivate sector in green growth and renewable energy projects.

Fifthly, it is necessary to strengthen the capacity of theprivate sector and stakeholders, especially developing countries, to buildand implement a green transition roadmap that is equitable, diverse, highlypractical and conforming to market rules, said Ha.

The Deputy PM told participants that Vietnam is acceleratinggreen transformation and digital transformation, developing the knowledge-based economy and circular economy, and striving for the goal of "zero"emissions by 2050.

He thanked partners for their help and expressed his hope tocontinue receiving effective cooperation in infrastructure projects, greenprojects, climate change adaptation, and sustainable use of water resources. 
 
He said he believes that the world will overcome the climateand environmental crisis if countries unite and mobilise the participation ofall parties, especially the private sector, thereby helping build a sustainableand prosperous future for all people.

The Vietnamese representative’s opinions and suggestions wereappreciated by participating delegates, who noted that Vietnam's participationin the Fair Energy Transition Partnership (JETP) and its efforts in mobilisingfinancial resources from both the public and private sectors to achieve energytransition are of great significance, creating new impetus for economic growth.US Secretary of the Treasury Janet Yellen highlighted the potential inimplementing cooperation projects with Vietnam and Indonesia in thefield of energy transition.

Within the framework of the summit, Deputy PM Ha had ameeting with French Minister for Energy Transition Agnes Pannier Runacher, who affirmedthat France wishes to strengthen cooperation with Vietnam, especially in renewableenergy and nuclear energy development.

Ha proposed France continue supporting Vietnam in theprocess of implementing the political declaration establishing the JETP as wellas in the transfer of green technology, and connect businesses in renewable energy andgreen energy. The two sides agreed to continue working together to contributeto the common success of the upcoming 28th UN Climate ChangeConference (COP28) to be held in November in Dubai./.