The EU will invest more than €560 million in Vietnam in projects linked to sustainable transport and clean energy.
The funding package was announced in Hanoi by European Commissioner for International Partnerships Jozef Síkela at the EU–Vietnam Global Gateway Business and Investment Forum, accompanied by European companies and development banks including European Investment Bank Vice-President Nicola Beer, the European External Action Service (EEAS) reported on Tuesday.
A €40 million Sustainable Transport Facility has been launched to support Vietnam’s public transport investment plans, with a focus on developing at least four large-scale infrastructure projects such as railways, inland waterways and urban mobility.
The programme is linked to work on schemes including the Hanoi–Ho Chi Minh City high-speed rail project.
The EU has previously worked with Vietnam on the extension of Hanoi’s Metro Line 3, and European companies will support development of the Lien Chieu container port in Da Nang.
Loans and banking deal back clean energy
European development banks have signed loan agreements totalling €230 million with Electricity Vietnam for the Bac Ai project — described as Vietnam’s first pumped storage hydropower plant — which is designed to store electricity and release it when needed.
The EEAS said the signed loans form part of a wider package close to €400 million under a “Team Europe” approach bringing together the European Commission and several European public lenders, including the European Investment Bank and Germany’s KfW.
Separately, the European Investment Bank Global and Techcombank agreed a €200 million financing deal to support private-sector projects in areas including solar and wind power, energy efficiency and electric mobility.
Other announced funding includes a €23 million top-up to an Energy Transition Facility for clean-energy investment, a €20 million sustainable forest management programme, and a €50 million programme with Germany and France to develop vocational training centres and green and digital skills.
