On January 11-12, USAID and a handful of international development partners co-sponsored Vietnam Central Economic Commission’s 2018 Vietnam Economic Forum. Prime Minister Nguyễn Xuân Phúc, CEC Chairman Nguyễn Văn Bình, and former U.S. Secretary of State John Kerry attended this high-level meeting and USAID/Vietnam Mission Director Michael Greene gave a keynote speech. During the session on sustainable economic growth and green energy, the Ministry of Industry and Trade and USAID highlighted their cooperation to strengthen energy security by accelerating the adoption of energy efficient and renewable energy (RE) technologies.  This collaboration includes USAID’s support to the Electricity Regulatory Authority of Vietnam to design, test and deploy the Direct Power Purchase Agreement (DPPA) mechanism. A viable DPPA will allow multinational corporations to meet their renewable energy purchasing commitments and attract significant new RE investments to Vietnam. More than 17 global business leaders including Apple, ABB, Nike, and Unilever have formally endorsed this approach.

So What? USAID is leading an influential coalition of public and private sector partners to transform the energy sector to increase use of renewable energy and help power Vietnam’s clean, smart, and secure economic growth.