Increase engagement on energy, resources and mining
Australia and Vietnam to establish a Ministerial Dialogue, to be held at least once every two years, to formalise increased engagement between our two countries on energy, minerals and mining. The dialogue will also include representatives from industry as appropriate, thereby helping to establish government relationships, future business networks and information sharing.
Formalise government relationships, and promote business networks and information sharing on energy, minerals and mining
Key initiatives- Vietnam and Australia to establish a Ministerial Dialogue, to be held at least once
every two years, with government and industry representatives, as appropriate, to increase
engagement on energy, minerals and mining, including focusing on:
- Continued cooperation in coal and gas sectors, including sharing of technology and management practices to ensure environmental protection, as well as facilitating export of coal and minerals from Australia to Vietnam;
- Encouraging Australian businesses to invest in the sustainable extraction and processing of natural resources in Vietnam, as well as Vietnamese businesses to invest in the sustainable extraction and processing of natural resources in Australia;
- Exchange information on new developments in the energy sector, such as low emissions technology and clean hydrogen;
- Exchange information and discuss, where applicable, the framework for promoting trade and investment in the energy and minerals sectors of both countries;
- promoting cooperation in the LNG sector including facilitating investment from Australia in terminal and warehousing facilities in Vietnam and export of LNG to Vietnam; and
- promoting information exchange, sharing of experiences and technical assistance to Vietnam in the energy sector including regulating electricity operation and monitoring competitive electricity markets.
- Australia to commission an independent feasibility study on emerging resources needs and opportunities in Vietnam and the neighbouring Mekong region, with a focus on coal, LNG and critical minerals.
Increase renewable energy trade and investment
Vietnam and Australia will collaborate to develop Vietnam’s renewable energy sector, including through encouraging greater use of Australian critical minerals and emerging technologies in supply chains, sharing of expertise and increased investment.
Collaborate to build and strengthen renewable energy sector development, trade and investment
Key initiatives- Vietnam and Australia to work together and with other development partners, to strengthen Vietnam’s power purchase agreements in line with international standards.
- Australia to support a scoping study on energy and climate change gaps in Vietnam, to develop project proposals for new funding mechanisms, including through the Energy Window of the Australian-funded Partnerships for Infrastructure (P4I) and the Mekong-Australia Partnership (MAP) programs, which will integrate principles of gender equality.
- Vietnam and Australia to explore opportunities to share policy and technical expertise among Australian and Vietnamese government agencies working in the energy sector, including potentially the Electricity Regulatory Authority of Vietnam (ERAV) and relevant Australian energy agencies; and to use P4I’s tools ⎯ including high-calibre private sector expertise ⎯ to complement and support this government-to-government engagement.
- Australia to explore support for Vietnam’s Electricity and Renewable Energy Authority (EREA) to support the development of the country’s offshore wind sector.
Expand mining equipment, technology and services (METS) trade to develop Vietnam’s resource sector
Vietnam and Australia will support initiatives to increase the use of Australia’s technologically advanced and world-leading mining equipment, technology and services (METS) expertise in the exploration and development of Vietnam’s resources sector.
Collaborate to expand METS trade in support of Vietnam’s resources sector development
Key initiatives- Australia, in consultation with Vietnam, to undertake a feasibility study on opportunities to expand METS markets between Australia and Vietnam and the broader Mekong region.
- Australia, with Vietnam’s support, to host industry dialogues to showcase Australian companies’ expertise in mining transportation and facilitate commercial arrangements for the exchange of technology and ideas.