On August 27, 2024, at the office of Phu Yen TTP Joint Stock Company (TTPPY), a high-level delegation from ADB, including Mr. Stephen O’Leary - Head of Office of Risk Management, Mr. Kiron Nath - Principal Investment Specialist, and Mr. Đỗ Lê Ninh - Senior Investment Officer, had a meeting with Mr. Nguyễn Anh Tuấn – General Director, Ms. Nguyễn Kim Hải – Chief Financial Officer, and Ms. Hoàng Thị Thanh Hoa – Head of Project Development Department.During the meeting, both sides shared information about Vietnam’s economic context in recent times, opportunities and potential for developing renewable energy (RE) projects in the coming years, and the challenges faced by foreign-invested enterprises (FDI) like TTPPY in developing RE projects.

The parties had open exchanges and discussions, listening to TTPPY’s proposals and recommendations to ADB to support more effective operations of TTPPY in particular and Vietnamese enterprises in general in the context of many fluctuations and the rising VND/USD exchange rate.

At the end of the meeting, ADB acknowledged and committed to bringing the company’s opinions and aspirations to higher levels of ADB leadership for consideration and possible reasonable adjustments to Credit Contracts in the near future. Additionally, as a large and reputable financial organization, ADB will also have higher-level discussions with the Vietnamese government, the State Bank, relevant ministries, and EVN leadership on pricing policies and support for RE projects to achieve common goals and help Vietnam reach Net Zero by 2050, as stated by the Prime Minister at COP26.