Vietnam makes great strides in clean energy development: Asiatimes
Vietnam is making rapid strides in shifting from fossil fuels to clean energy in the post-COVID-19 world, according to a recent article published by the website asiatimes.com.
Vietnam makes great strides in clean energy development (Photo: VNA)
Hanoi (VNA) - Vietnam is making rapidstrides in shifting from fossil fuels to clean energy in the post-COVID-19world, according to arecent article published by the website asiatimes.com.
According to the article, therenewable energy sector is booming in Vietnam thanks to its rapid economicgrowth over the past five years, led by massive inflows of foreign directinvestment (FDI) as multinational companies set up their factories here todiversify supply chains and to benefit from Vietnam’s young and well-educatedlabour force.
Economic growth and FDI inflows have led to ahuge surge in demand for energy in the country, it said.
In the context of limited domestic power sources, in recent years, Vietnam hasshifted towards development of renewable energy, mainly solar and wind energy,the article noted.
According to Fitch Ratings, Vietnam’s solarproduction already reached 16,640 MW last year, accounting for 24 percent ofthe total energy output of the country.
Asiatimes.com quoted Frederick Burke, Managing Director of BakerMcKenzie/Vietnam, as saying that Vietnam has hit a home run in terms of solarenergy, and it is way above its original power development plan target at aboutdouble what it was targeting.
He said that one reason for the clean energyboom in Vietnam is due to customer demand, specifically from brand-nameconsumer product conglomerates that are looking for a “Green supply chain” tosatisfy their home market requirements for more climate-friendly goods.
Investment flowing intoVietnam's industrial parks has been spent on rooftop solar as a climate-appropriatesolution to meet the electricity demand of those IPs themselves.
Obbon Thiracahi, senior analyst for corporates at Fitch Ratings, said manyenergy giants have come to Vietnam because there are many opportunities forinvestment in the Southeast Asia nation./.
Experts discussed the opportunities and challenges in sustainable energy transition at a Hanoi forum held by Vietnam Energy magazine on April 20, which focused on the development of green, clean, and renewable energy against the backdrop of international capital movement into the country.
Republic of Korea (RoK) conglomerate the SK Group said on May 18 that it wishes to set up long-term cooperation with Vietnam, including the Mekong Delta city of Can Tho, which has substantial potential in hydrogen development and high-tech production.
BNN Bloomberg, Canada's business news network reporting on finance and markets, has recently published an article highlighting the extraordinary 100-fold increase in solar power that has taken place in Vietnam over the last two years.
Contractors building eight wind power plants in Soc Trang province have promised to speed up work so that they can begin generating electricity before the end of October.
Prime Minister Pham Minh Chinh suggested the UK Government continue its support to Vietnam in finance, technology, and experience in transitioning towards a low-carbon economy, while receiving Alok Sharma, British Cabinet Minister and President of the 26th United Nations Climate Change Conference (COP 26), in Hanoi on May 28.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Vietnam makes great strides in clean energy development (Photo: VNA) 
