Vietnam has opportunity to become global leader in renewable energy: Entrepreneur Magazine
Given Vietnam's high solar PV potential and ambitious green energy targets by 2050, the country has every opportunity to become a global leader in renewables, the Entrepreneur Magazine said on its e-version.
Vietnam has opportunity to become global leader in renewable energy. (Photo: VNA)
Hanoi (VNA) - Given Vietnam's high solar PV potential and ambitious green energy targets by 2050, the country has every opportunity to become a global leader in renewables, the EntrepreneurMagazine said on its e-version.
Eric Chin, the author of the article published on entrepreneur.comcited the World Bank as saying that Vietnam currently has the mostcomprehensive installed solar power capacity in Southeast Asia, with 16,500MWgenerated in 2020. Moreover, Vietnam was among the top 10 nations globally,with the most solar energy capacity installed in 2020.
There is also a compelling rationale forestablishing wind energy projects in Vietnam due to evidence that it has someof the greatest wind resources in the region with a potential of 311 GW,according to the article.
Market analysts believe that if Vietnam maintains itsrapid expansion of renewable energy, it will rise much higher in the rankings,perhaps overtaking nations like Australia and Italy in renewable energydevelopment and creative solutions.
The climate and topography of Vietnam make renewableenergy, particularly wind power, a significant investment prospect. Vietnam'svast wind resource is thanks to the country's long and narrow geographic shapeconsisting of over 3000 kilometers of coastline, including a mix of hills andmountains.
According to the World Bank, more than 39 percent ofVietnam has wind speeds more than 6 meters per second (m/s) at 65 meters,equivalent to 512 gigawatts (GW) of capacity. Vietnam assumes excellentpotential, with 8.6 percent of its land area suitable for large wind farms.
Vietnam has recently seen phenomenal solarphotovoltaic (PV) growth, which is just the beginning of the country's vastenergy transition away from coal. The country's solar PV capacity increasedfrom 86 MW in 2018 to about 16,500 MW in 2020.
Consequently, Vietnam has surpassed Thailand as theASEAN country with the greatest installed solar power capacity. Solar PVsystems provide roughly 10.6 TWh of electricity in 2020, accounting for nearly4 percent of total output.
Rooftop solar will account for approximately half ofVietnam's total solar capacity by 2030. With a promising solar energyproduction environment, international investors will have difficulty passing upsuch lucrative investment prospects, the author said./.
A Policy Dialogue on “Auction Mechanism for Sustainable Development of the Renewable Energy Market” was held via video teleconference by independent think tank Vietnam Initiative for Energy Transition (VIETSE) on January 11.
Vietnam’s total installed power capacity totalled 76,620 MW in 2021, 7,500 MW higher than the previous year, and the highest among ASEAN member states, said CEO of the Vietnam Electricity (EVN) Tran Dinh Nhan at the company’s year-end meeting on January 14.
Vietnam is determined to restruct its enegy sector, said Deputy Minister of Industry and Trade Dang Hoang An at the 4th High-Level Meeting of the Vietnam Energy Partnership Group (VEPG) held in Hanoi on January 24.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Vietnam has opportunity to become global leader in renewable energy. (Photo: VNA) 
