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How to Open a Hotel in Vietnam: Ultimate Guide 2024
How to Open a Factory in Vietnam: Ultimate Guide 2024
How to Open a Supermarket in Vietnam: Ultimate Guide 2024
How to Form a Company in Vietnam: Technical Guide 2024
How to Start an English Centre in Vietnam: Ultimate Guide 2024
How to Start a Business in Vietnam: Ultimate Guide 2024
How to Export Coffee from Vietnam: Ultimate Guide 2024
How to Import Coffee to Vietnam: Ultimate Guide 2024
How to Open a Gym in Vietnam 2024: Ultimate Guide
How to Open a Bar in Vietnam 2024: Ultimate Guide
How to Open a Restaurant in Vietnam: Ultimate Guide 2024
How to Open a Cafe in Vietnam: Ultimate Guide 2024
Vietnam Airports: Foreign Investors Guide 2024
Vietnam Seaports: Foreign Investors Guide 2024
Minimum Wage in Vietnam 2024: Your Questions Answered
Logistics in Vietnam: Ultimate Guide (2024)
Gambling in Vietnam: Foreign Investor Quick Read 2024
Public Holidays in Vietnam 2024: Cheat Sheet
Corruption in Vietnam: Cheat Sheet 2024
Tax in Vietnam 2024: Quick Read
Value Added Tax in Vietnam 2024: Quick Read
Corporate Income Tax in Vietnam 2024: Quick Read
Personal Income Tax in Vietnam 2024: Quick Read
Vietnam Special Consumption Tax 2024: Quick Read
Video Games in Vietnam: Cheat Sheet 2024
English News in Vietnam: A Quick Guide 2024
Where are Nikes Made in Vietnam 2024?
Vietnam Supermarkets: Foreign Retailer’s Guide 2024
Shopping in Vietnam: Quick Guide 2024
Vietnam’s Financial Sector: An Overview 2024
Vietnam’s Imports and Exports, March 2024: Snapshot
Vietnam’s Imports and Exports, February 2024: Snapshot
Snapshot: Manufacturing in Vietnam, February 2024
Vietnam’s Economy, February 2024: Snapshot
Snapshot: Manufacturing in Vietnam, January 2024
Vietnam’s Stock Market, January 2024: Snapshot
Vietnam’s Economy, January 2024: Snapshot
Snapshot: Manufacturing in Vietnam, December 2023
Vietnam’s Stock Market, December 2023: Snapshot
Vietnam’s Economy, December 2023: Snapshot
Vietnam energy news coverage is extensive. This is in large part due to a growing thirst for energy to support the Vietnamese economy’s rapid growth. In particular, renewable energy has become an important topic as the country aims to be net-zero by 2050. This section monitors Vietnam energy news including renewable energy, the electricity supply, and key energy regulations.
Of note, Vietnam currently has 15 waste-to-energy plants under construction. However, only three facilities are operational, processing approximately 10 percent of the country’s total waste. The country discharges roughly 60,000 tons of household waste daily, with an average annual increase of 6 percent projected between 2021 and 2030…
Of note, the Power Development Plan 8–known in short as the PDP8–that was approved last year, was embedded with a target of six gigawatts of offshore wind power by 2030. The implementation plan for the PDP8 released earlier this year, however, did not list a single offshore wind power project…
Of note, retail electricity prices in Vietnam are regulated and, though permitted, price rises are not all that common. This has led to EVN selling electricity below cost price. As of January, it was losing about VND 142.5 per kilowatt-hour sold. This has been ongoing for some time and has led to EVN accumulating the huge aforementioned losses. The issue here seems to be a reluctance to raise electricity prices rather than an inability to do so…
Last week, Vietnam issued Decree 80 creating a mechanism by which private enterprises and power generators can enter into direct power purchase agreements or DPPAs. Exactly how impactful this decree might be, however, is difficult to determine at this early stage with a lot of moving parts and a number of obstacles to be overcome. This article breaks down and puts into context the key components of this new piece of legislation.
Notably, the renewable energy segment is a relatively new growth driver for Sao Mai–Sao Mai only started investing in renewable energy in 2017 when it established Sao Mai Solar. Currently, the firm operates the An Hao Solar Power Plant with a 210-megawatt peak capacity and Europlast Long An Solar Power Plant with a 50-megawatt peak capacity. These projects contribute about 5 percent of Sao Mai’s revenue, however, they account for 20 percent of the firm’s gross profit…
Notably, in 2017, to encourage renewable energy, the government implemented a mechanism to buy excess rooftop solar power at a preferential feed-in tariff price of 9.35 cents per kilowatt hour. This policy led to a significant increase in investments in rooftop solar power systems and subsequently ended in late 2020 due to concerns about uncontrolled growth of rooftop solar power sources. This rapid expansion caused challenges in managing the national power grid and since the beginning of 2021, the signing of rooftop solar power purchase and sale contracts has been paused…
Of note, retail electricity prices in Vietnam are regulated and, though permitted, price rises are not all that common. This has led to EVN selling electricity below cost price. As of January, it was losing about VND 142.5 per kilowatt-hour sold. This has been ongoing for some time and has led to EVN accumulating the huge aforementioned losses. The issue here seems to be a reluctance to raise electricity prices rather than an inability to do so…
Of note, it was announced at the beginning of June that Toyo had managed to secure a US$980 million loan from Exim Bank. This announcement, however, was met with some concern on account of the fact that Vietnam has signed up to a Just Energy Partnership Agreement worth US$15.5 billion to be used to reduce its dependence on coal…
Vietnam has issued a decree on Direct Power Purchase Agreements–or DPPAs– clearing the way for businesses to buy power directly from power generators. The decree has been a long time coming and has been touted as a critical component to developing Vietnam’s electricity network. Per the decree, high volume power
Nuclear power for Vietnam has been raised again, this time by the South Korean Minister of Trade, Industry, and Energy Ahn Duk-geun, and a Vietnam-South Korea business forum in Seoul. The minister has suggested that South Korea could provide support for Vietnam should it choose to pursue it…
Of note, Vietnam ranked second in attracting FDI in renewable energy among developing economies from 2015 to 2022, according to the UN Trade and Development World Investment Report 2023. Key foreign investors in renewables in Vietnam are GE Renewable Energy, Copenhagen Infrastructure Partners, and Enterprize Energy…
During a state visit by the president of Russia to Vietnam last week, Vietnam’s Prime Minister told the Russians that Vietnam would consider nuclear energy as a means of meeting the net-zero 2050 commitment it made at COP26. Indeed, Vietnam needs more low-emissions electricity, but is nuclear power really a plausible solution?
Of note, a combination of favorable climate conditions, supportive government policies, and rising demand has made Vietnam a promising market for renewable energy development in recent years. In particular, southern Vietnam has high solar irradiance and strong, consistent winds. The average annual sunshine duration in Khanh Hoa province is 2,600 hours per year, while Ninh Thuan province has the most hours of sunshine in a year, in Vietnam, reaching up to 2,800 hours…
The government has gone to great lengths to assure foreign investors that the supply will be adequate this year, however, moves to eek out support from foreign investors in reducing their power consumption seems to suggest otherwise–Just weeks ago, it was reported that Apple supplier Foxconn had been asked to curtail its power usages by 30 percent in anticipation of power shortages…
Nuclear power in Vietnam has been floated before. In 2006, the government announce plans to have a nuclear power plant online by 2020 and this was followed a few years later by official plans for nuclear power plants in southern Vietnam in Ninh Thuan and Khanh Hoa provinces. These were, however, shelved in 2016 in favour of gas and coal on the back of lower demand projections…
This is interesting in that hydropower has been underutilised this year compared to last. Just 15 percent of Vietnam’s power came from hydro from January to April of this year, compared to 25 percent for the same period last year. At the same time it has been reported that about 64.6 percent of Vietnam’s electricity came from burning coal in April, whereas in 2023, on average, coal was responsible for just 46 percent of Vietnam’s electricity supply.
Of note, the price it is paying to its key suppliers has varied widely over the first five months of the year. Its most expensive coal imports have come from China averaging US$302 per ton versus its cheapest coal imports from Laos which have cost US$68 a ton by the same metric. On average, it has paid US$166 per ton…
Of note, Trina Solar, in November of last year, announced it would almost doubled its investment in Vietnam bringing the total invested to nearly US$900 million. It also said, around the same time, that it believes its solar panels should be exempt from the US tariffs on the ground that its polysilicon comes from the US and Europe. With this in mind, it’s not clear what might happen to the additional investment Trina Solar announced last year…
The plan was issued by the Ministry of Industry and Trade and was designed to tackle the issue of over production that surfaced in Central Vietnam several years ago. Said over production, however, was more the result of projects being approved outside of the plans and policies that were in place for solar power development. Specifically, the Government Inspectorate found that the Power Development Plan 7 had set out to see 850 MW of solar power by 2020, however, a total of 168 solar projects with a total capacity of 14,707 MW were approved in that time…
Vietnam committed to being net-zero by 2050 at the 26th Conference of Parties, however, there have been a number of roadblocks. A Just Energy Transition Partnership agreement, for example, signed back in 2022, was touted as the foundation for a move to greener power generation. Leaked British diplomatic cables, however, suggest there is little confidence among the JETP partners…
What Does a Devalued Yen Mean for Vietnam?
Vietnam’s New Direct Power Purchases Decree: Unpacked
What’s Happened to Vietnam’s Beer Market? Unpacked 2024
Nuclear Power in Vietnam: Unpacked 2024
Vietnam’s Offshore Wind Power Holdup: Unpacked
The Dong’s Wild Ride: Unpacked
Insolvency in Vietnam 2024: Unpacked
Vietnam’s Real Estate Market Recovery 2024: Unpacked
Vietnam’s Airline Industry Turbulence: Unpacked
Vietnam’s Semiconductor Manufacturing Ambitions: Unpacked
The US Election and Vietnam: Unpacked
Vietnam’s Stock Market Upgrade Opportunity: Unpacked
Unpacked: Vietnam’s Non-Market Economy Review
Vietnam Stock Market Indexes: Quick Guide 2024
The Gold Price in Vietnam: Explained 2024
Vietnam Beer: What You Need To Know in 2024
Made in Vietnam: Brands and Goods 2024
Vietnam Footwear Manufacturers: Quick Guide 2024
Vietnamese Coffee Brands: Quick Guide 2024
Vietnamese Instant Coffee: Quick Guide 2024
Vietnam Clothing Suppliers: Quick Guide 2024
Vietnam Garment Manufacturing 2024: Ultimate Guide
Insurance in Vietnam: Industry Overview 2024
Manufacturing in Vietnam 2024: Ultimate Guide
Average Salary in Vietnam 2024: Quick Guide
Banking in Vietnam: Industry Overview 2024
The Vietnam Stock Exchange: Quick Guide 2024
Vietnam’s Foreign Ownership Limits: Quick Guide 2024
Vietnam News Media Regulations 2024: An Overview
Vietnam CPI Tracker: 4.34 percent in June [data set]
Vietnam-US Trade Tracker: May 2024 Update [data set]