Vietnam’s renewable energy boom driven by economic growth: The Diplomat
Vietnam’s rapid economic growth is the primary mover for its renewable energy boom, according to an article titled “What’s Driving Vietnam’s Renewable Energy Boom?” posted in The Diplomat on January 12.
A wind and solar energy plant in central Ninh Thuan province (Photo: VNA)
Hanoi (VNA) – Vietnam’s rapid economic growth is the primary moverfor its renewable energy boom, according to an article titled “What’s DrivingVietnam’s Renewable Energy Boom?” posted in The Diplomat on January 12.
The author analysed that in 2014, the installed capacity ofnon-hydroelectric renewable energy, such as solar, wind and biomassgasification, in Vietnam stood at 109 MW, about one third of one percent of thecountry’s total installed capacity of 34,079 MW. At the time, Vietnam’selectricity mix was dominated by hydropower (46 percent), coal (29 percent) andnatural gas (22 percent).
By the end of 2019, wind and solar accounted for 5,700 MW ofinstalled capacity, about 10 percent of the total supply. That means Vietnamhas seen wind and solar go from essentially zero to 10 percent of its supply inonly five years.
The author cited the Asian Development Bank’s data as sayingthat Vietnam’s economy has grown at 6 percent or more every year since 2014,reaching 7 percent in 2018 and 2019.
This rapid growth is driving up energy consumption at anextraordinary rate, he wrote./.
The Ministry of Natural Resources and Environment, in coordination with the World Bank, held a Final Workshop for the “Vietnam Partnership for Market Readiness” project in Hanoi on December 29. After 5 years of implementation, up to now, the project has made basic preparations, paving the way for the formulation of carbon market policies.
With highly favourable natural conditions, the south-central coastal province of Ninh Thuan is preparing a plan to become a renewable energy centre in Vietnam and to develop the sector into a pillar of the local economy.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
