HCM CITY (Biz Hub) — A one-week visit to HCM City from today by executives from eight German wind energy companies will offer the opportunity for wind-power companies in the two countries to build partnerships and boost implementation of projects in the sector.

The visiting delegation will meet with local business executives as well as government authorities to forge partnerships.

The German companies will present their products and services to around 100 Vietnamese participants at a one-day conference titled "New chances with the new Feed-in Tariff" today. It references the planned revision to the current feed-in tariff of 7.8 cents per kWh.

Meetings during the conference will enable German and local companies to discuss opportunities for doing business.

A visit to CS Wind Tower in the Phu My Industrial Park I in Ba Ria-Vung Tau Province will round off the visit.

The potential for developing wind energy in Viet Nam is huge with its more than 3,000km of coastline, a monsoon climate and average wind speed of around 6 m/s, according to the Delegate of German Industry and Commerce in Viet Nam, the organiser of the trip.

The Vietnamese Government recognises this potential and aims to significantly increase production of renewables, including wind power.

There are supplementary incentives such as import tax exemption, low land rents, and corporate income tax breaks on offer to enable development of the sector.

The visiting executives are from companies that comprise all aspects of the wind power value chain, including ABO Wind AG, Ammonit Measurement GmbH, Anemos GmbH, Enercon GmbH, leXsolar, Nordex Energy GmbH, SETEC Wind-Power GmbH, and WKA Beton Service. — VNS