Potential types of energy

Providing a fresh perspective on how the transition could be executed effectively, the US Embassy shared its experiences in developing policy regarding transformation and potential support. The US is willing to share its technology, capital, and policy/technical expertise to help Vietnam in energy transition, Sean M. Lawlor, an energy officer at Econ-ESTH Section from the US Embassy in Vietnam said at a conference held in Hanoi this week. The conference themed “Strategies & Partnerships to accelerate Vietnam’s energy transition” was jointly organized by Cong Thuong Newspaper and GE Vietnam, one of the first American companies opening representative office in Hanoi in 1993, even before the US embargo was lifted. “The US initiated the energy switch more than a decade ago and has reported a drop in the use of coal by half, a jump of natural gas to 38% in the country’s energy mix, and clean energy solutions as favored by the government," Sean M. Lawlor said. He added that … [Read more...] about US willing to share technology to help Vietnam in energy transition

Illustrative image (Source: baodautu.vn) Hanoi (VNA) – A workshop themed “Vietnam as your Green business opportunities destination” was held by the Belgian Vietnamese Alliance (BVA) and the Flanders International Technical Agency (FITA) in Brussels on June 22 to introduce Vietnam’s potential in renewable energy and sustainable port development. Addressing the event, Vietnamese Ambassador to Belgium and Luxembourg Nguyen Van Thao said that although the world in general and the two regions of Asia and Europe in particular have seen positive signs of a “new normal” period after two years of being hit by COVID-19, the global economic environment has remained fragile due to various factors, including geopolitical uncertainties, new variants of the SARS-CoV-2 virus, severe disruption of supply chains, pressures from rising inflation, as well as the challenges in sustainable development and the unpredictable impacts of climate change. As a coastal country that suffers regular … [Read more...] about Vietnam, Belgium seek stronger partnership in renewable energy, port development

Addressing a seminar in Hanoi on June 22, Hoang Tien Dung, Director of the Electricity and Renewable Energy Authority at the Ministry of Industry and Trade, said as Vietnam is a dynamic economy with fast growth for many consecutive years, demand for energy, especially electricity, has been on the rise. With its own efforts and assistance from partners, the country is gradually reducing power sources using fossil fuel and promoting new, clean, and renewable energy, he said, noting that this is also an inevitable trend that helps guarantee a sustainable economy. So far, Vietnam has obtained certain results in increasing the share of renewable power in its power system. It is planning to develop lower-carbon power generation and accelerate fuel transition in the coming time, Dung said. However, the official pointed out that the emergence of new electricity sources has also posed the system to sustainability and stability challenges, which requires coordination in terms of both … [Read more...] about Vietnam strives to boost energy transition: official

The Corio Generation teams up with FECON at the offshore wind power project in Ba Ria-Vung Tau province The partnership demonstrates Corio’s commitment towards renewable energy development in Vietnam, said company representatives at a signing ceremony in Hanoi. The proposed offshore windfarm, located 23-35km from the coast, could be among the first large-scale offshore wind projects to be built in Vietnam, once licences and approvals are obtained. The fixed-bottom project could produce around 1,250GWh of clean electricity and avoid more than 600,000 tonnes of carbon emissions a year, according to an analysis by the Green Investment Group. Guillermo Martinez-Navas, senior director of Corio Generation, giving remarks at the signing ceremony “With its vast wind resources, Vietnam can be a Southeast Asian powerhouse in offshore wind, providing clean, affordable electricity, as well as supporting jobs and economic opportunities for local communities,” said … [Read more...] about Corio partners with Vietnam’s FECON on Vung Tau wind farm

Wind experts in Vietnam are suggesting improved bankability in order to attract finance from elsewhere, Photo: Shutterstock Mark Hutchinson, chair of the Southeast Asia Task Force at the Global Wind Energy Council (GWEC) said the investment rate of offshore wind power projects is very large. Therefore, Vietnam needs to have a clear process and an appropriate price to attract investors. At the same time, it is also necessary to consider the supply chain and develop seaport infrastructure. Commenting on the target of 7GW by 2030 as set out in the draft Power Development Plan VIII (PDP8), Hutchinson said it is necessary to have a conversion mechanism for the first 4GW, then implement a bidding mechanism for the remaining 3GW. “If we switch directly to the bidding mechanism, this goal will be difficult to achieve. Besides this, it is necessary to have capital financing from international banks because domestic banks have limited capital supply,” Hutchinson said at a conference two … [Read more...] about Investors clamour for wind incentives

Large market potential According to the Vietnam Industry Agency (VIA) under the Ministry of Industry and Trade (MoIT), Vietnam’s mechanical engineering industry enjoys advantages in three main sub-sectors: motorcycles and motorcycle spare parts; household mechanics; automobile tools and parts. Specifically, domestic mechanical engineering enterprises such as VinFast, Thanh Cong, and Thaco now produce and assemble almost all types of vehicles including cars, trucks, and coaches. According to the VIA, domestically produced metal components have now met 85 to 90 percent of the motorcycle demand, 15 to 40 percent of automobile production needs, some 40 to 60 percent of agricultural and construction machinery, and about 10 percent of high-tech industry needs. Truong Thi Chi Binh, Deputy President of the Vietnam Association for Supporting Industries also said that mechanical and supporting industry enterprises now have great opportunities since Vietnam joined various free … [Read more...] about Mechanical industry seeks solutions to access global value chain

Speakers at a conference titled ‘UK Market: Unlocking great potential by leveraging advantages of the UKVFTA’ held in HCM City on Thursday. — VNS Photo Bồ Xuân Hiệp HCM CITY — Việt Nam has emerged as a major Southeast Asian supplier of farm produce and aquaculture products to the UK following the UK-Vietnam Free Trade Agreement (UKVFTA) they signed, speakers said at a conference on Thursday. Speaking at ‘UK Market: Unlocking great potential by leveraging advantages of the UKVFTA,’ Oliver Todd, British consul general in HCM City, said Việt Nam could replace other countries such as India and Indonesia as a major supplier of agricultural and aquaculture products to his country. Todd, who is also director of UK Trade and Investment in Việt Nam, said Vietnamese exporters should be well prepared if they want to boost exports to the choosy market. It is important to learn about import demand and standards and requirements for exporting to the British market, he said. Chris Milliken, … [Read more...] about Việt Nam becomes major supplier of farm produce to UK

Energy Observer docks at Khanh Hoi Port in HCMC's District 4 on Wednesday as part of its visit to the city from June 18 to 29. The French vessel has been on a world tour for five years without having to consume any fossil fuel. It is the first vessel in the world that is autonomous in energy thanks to her onboard technologies, combining multiple sources of solar, wind and hydropower produced on board. Following her launch in April 2017, Energy Observer departed on a world tour that year, with HCMC its 73rd stop. Departing from its home port of Saint-Malo (France) in 2017, the Energy Observer has sailed more than 50,000 nautical miles and visited more than 40 countries and territories. The Energy Observer features a dual-body design to reduce water resistance. The ship has a length of 30 meters, a width of 12 meters, and can reach a maximum speed of 14 knots per hour. On board, there are a total of more than 200 solar panels placed on the … [Read more...] about World’s first zero-emission ship docks in HCMC

Speakers at a conference titled ‘UK Market: Unlocking great potential by leveraging advantages of the UKVFTA’ held in HCM City on Thursday. — VNS Photo Bo Xuan Hiep Viet Nam has emerged as a major Southeast Asian supplier of farm produce and aquaculture products to the UK following the UK-Vietnam Free Trade Agreement (UKVFTA) they signed, speakers said at a conference on Thursday. Speaking at ‘UK Market: Unlocking great potential by leveraging advantages of the UKVFTA,’ Oliver Todd, British consul general in HCM City, said Viet Nam could replace other countries such as India and Indonesia as a major supplier of agricultural and aquaculture products to his country. Todd, who is also director of UK Trade and Investment in Viet Nam, said Vietnamese exporters should be well prepared if they want to boost exports to the choosy market. It is important to learn about import demand and standards and requirements for exporting to the British market, he said. Chris Milliken, vice … [Read more...] about Viet Nam becomes major supplier of farm produce to UK

Speaking at ‘UK Market: Unlocking great potential by leveraging advantages of the UKVFTA,’ Oliver Todd, British consul general in HCM City, said Vietnam could replace other countries such as India and Indonesia as a major supplier of agricultural and aquaculture products to his country. Todd, who is also director of UK Trade and Investment in Vietnam, said Vietnamese exporters should be well prepared if they want to boost exports to the choosy market. It is important to learn about import demand and standards and requirements for exporting to the British market, he said. Chris Milliken, vice president of the British Chamber of Commerce in Vietnam (BritCham), said there is ample scope to grow bilateral trade thanks to the trade deal. “Vietnam and the UK are not competing against each other in any industry; they commercially complement each other.” He pointed to the FTA as the leading pillar of the joint commitment to deepen bilateral trade, saying it was a mutual agreement to … [Read more...] about Vietnam becomes major supplier of farm produce to UK