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.
With a clear development strategy, proactive investment attraction and strong policy support for sustainable agriculture, Tay Ninh is positioning itself as a major hub for high-tech livestock farming in the southern region.
As Vietnam’s largest private carrier, Vietjet has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in many consecutive years.
The Vietnam National Petroluem Group (Petrolimex) had acted early to mitigate risks amidst the recent surge in global oil prices driven by the Israel–Iran conflict, Vietnam News Agency cited a Petrolimex representative as saying.
In mid-June, the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade (MoIT) in collaboration with Alibaba.com announced a list of 200 outstanding businesses selected to participate in the "Vietnam National Pavilion" in 2025.
Vietnamese seafood processing and export enterprises are in the process of completing procedures and adopting necessary technologies to bring their products into the Halal market.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
