The Vietnam National Petroleum Group (Petrolimex) and the Asian Development Bank (ADB) have signed a memorandum of understanding (MoU) to advance energy transition efforts.
Under the agreement, ADB will support Petrolimex in assessing its investment portfolio and developing a strategy for cleaner energy solutions. The collaboration aligns with Vietnam low-carbon goals and ADB’s 2023-26 strategy focused on governance, green economy transition, and private sector growth.Petrolimex, which controls 50 per cent of Vietnam’s fuel market and operates over 5,000 fuel stations, aims to become a leader in green energy by 2025. The company is exploring green hydrogen production and sustainable aviation fuel, supporting Việt Nam’s net-zero commitment by 2050. ADB continues to assist Vietnam with sustainable urban development, climate resilience, and governance reforms.