Prime Minister Nguyen Xuan Phuc has instructed the Ministry of Industry and Trade (MoIT), localities and Vietnam Electricity (EVN), to review issues related to solar power development.
Many private enterprises said they want to invest in building renewable energy infrastructure, but Việt Nam still lacks mechanisms to encourage private enterprises to participate in this activity.
Solar energy, especially photovoltaics, is developing fast globally, driven by technological advancements and the falling cost of solar cells and modules.
Korean investors are keen to invest in renewable energy due to its potential and the incentives that Việt Nam has offered to foreign investors, an HSBC official has said.
Viet Nam is in the early stages of developing renewable energy sources and needed to introduce more incentive policies to attract more investment, experts have said.
More than 180 exhibitors from 22 countries and territories will display their latest products and services at the Electric & Power Vietnam, an international power generation, transmission, distribution and renewable energy exhibition, in HCM City next month.
Viet Nam has seen a boom in renewable energy projects, in a bid to meet the nation’s future demands for power, after the Government scrapped plans to build a nuclear power plant in Ninh Thuan Province.
The US Agency for International Development (USAID) and Coca-Cola
Beverages Vietnam Limited have signed a memorandum of understanding
(MoU) aimed at increasing the use of renewable energy in Viet Nam.