Azerbaijan, Vietnam Seal Deal to Boost Renewable Energy Collaboration

Azerbaijan and Vietnam have taken a significant step toward strengthening their partnership in clean energy by signing a memorandum of understanding aimed at expanding cooperation in the field of renewable energy.

In the lead-up to the third session of the Azerbaijan-Vietnam Intergovernmental Commission scheduled in Hanoi, the inaugural meeting of the Azerbaijan-Vietnam Business Council and a bilateral business forum took place, The Caspian Post reports, citing local media.

The event gathered key figures including Vietnamese Deputy Minister of Industry and Trade Nguyen Hoang Long, alongside representatives from Export and Investment Promotion Agency of the Azerbaijan Republic (AZPROMO), Small and Medium Business Development Agency (KOBIA), the Vietnam National Entrepreneurship Association (VINEN), and business leaders from both countries.

The event was highlighted by Azerbaijani Energy Minister Parviz Shahbazov, emphasizing the forum’s role as a catalyst for deepening economic cooperation and strengthening ties between Azerbaijan and Vietnam.

Participants engaged in comprehensive discussions on expanding opportunities in areas such as investment climates, economic zones, industrial parks, high technology, agriculture, hydrocarbon sectors, and renewable energy.

The forum also stressed the importance of launching mutual business missions, forming joint ventures, and fostering investment in targeted projects to enhance bilateral trade and industrial cooperation.

The event concluded with the signing of five cooperation agreements, notably including a Memorandum of Understanding on Renewable Energy between Azerbaijan Renewable Energy Agency and Vietnam’s ROX Group, marking a significant step forward in energy sector collaboration.