Viet Nam, Norway enjoys significant potential for stronger relationship: Minister Åsmund Aukrust

He emphasized that Norway and Viet Nam share many common values, particularly their firm belief in international law and the UN Charter.

The minister highlighted both sides' joint efforts in addressing global challenges such as climate change, as well as opportunities for cooperation in energy, fisheries, and ocean management. In his view, these shared priorities provide a solid foundation for deeper collaboration.

Speaking about Viet Nam's role in Norway's economic engagement with Southeast Asia, he noted that Norway is proud to be a long-standing partner of ASEAN and that within the bloc, Viet Nam is one of its strongest partners.

The diplomat observed that Norwegian businesses have shown strong interest in investing in Viet Nam, with many already operating successfully in the country.

During his on-going visit to Viet Nam, he met with several Norwegian companies that expressed satisfaction with their activities and contributions to the Vietnamese economy, stating that Viet Nam holds a particularly important position in Norway's broader strategy in the region.

Referring to the outcomes of Viet Nam's 14th National Party Congress, he expressed his delight to learn that respect for international law and the UN Charter remains central to Viet Nam's foreign policy, which aligns closely with Norway's own principles.

The circular economy featured prominently in the Congress' resolution and the five-year socio-economic development plan (2026-2030), he shared, adding this would open up further avenues for bilateral cooperation.

On climate change and environmental protection, including cooperation under the Just Energy Transition Partnership (JETP), he explained that Norway and Viet Nam are already working together in areas such as forest protection, ocean conservation, and climate investment.

The minister pointed out that Norfund is investing in Viet Nam as part of Norway's climate finance efforts, adding that there are ample opportunities to further strengthen cooperation in climate action and energy transition in the years ahead.

Looking ahead to the next decade, he said, Norway and Viet Nam have agreed on a green strategic partnership, which serves as a comprehensive framework for cooperation on shared priorities such as climate investment and energy transition.

He also underlined the growing importance of the circular economy in Viet Nam and indicated that this would be an important area for future collaboration.

Discussing Viet Nam's advantages in the green transition, the diplomat remarked that the country is sending a strong message about its determination to take a leading role in this area. Such commitment enhances Viet Nam's attractiveness to international investors, including Norwegian companies. He welcomed Viet Nam's proactive stance and leadership in advancing green transformation.

Drawing on Norway's experience in pursuing energy transition and net-zero emissions, he stressed the importance of establishing strong institutional systems and clear regulatory frameworks to support long-term goals, affirming that Norway stands ready to share its experience and facilitate connections between experts from both countries to support Viet Nam's efforts.

Regarding policy and institutional reforms to encourage long-term investment in sustainable development, the diplomat emphasized the need for transparent and predictable policies so that domestic and international stakeholders clearly understand the investment framework.

Reflecting on Norway's model, he highlighted the high level of trust between government, industry, workers, and investors as a key factor in success. Clear regulations, policy stability, and mutual trust are essential for fostering sustainable and long-term investment./.