The Australia–Vietnam Energy Transition Platform (AVETP) is a DFAT-funded initiative established in 2023 to support Vietnam’s transition to a low-carbon and climate-resilient economy. It focuses on mobilising private sector investment into sectors critical to achieving Vietnam’s net-zero ambitions.
AVETP is delivered primarily through the Private Infrastructure Development Group (PIDG), using a combination of blended finance instruments—including equity, loans, guarantees, and technical assistance—to catalyse investment in opportunities that are underserved by conventional financing. Designed as a catalytic platform rather than a traditional development program, it targets commercially viable but constrained investments, demonstrating new financing models and crowding in additional private capital over time.
An independent Mid-Term Review (MTR) assessed AVETP’s effectiveness, monitoring, evaluation and learning arrangements, and strategic alignment with Australia's International Development Policy.
The MTR found that AVETP is delivering high-quality, catalytic, and market-shaping investments that address critical financing gaps in Vietnam’s energy transition. It also identified opportunities to strengthen country-level systems, visibility, and reporting to enhance the platform’s effectiveness as a cohesive bilateral program.
The Australian Government welcomes these findings and agrees that AVETP is a relevant and impactful initiative. DFAT is working with PIDG and partners to implement the recommendations, with a focus on strengthening in-country engagement and maximising the platform’s overall development impact.
Evaluation report
- Australia-Vietnam Energy Transition Platform mid-term review report [DOCX 2.3 MB]
- Australia-Vietnam Energy Transition Platform mid-term review report [PDF 1 MB]