German Industry and Commerce Vietnam analysts say German companies have
a big appetite for wind energy projects in Vietnam, but there must be more
transparent investment policies before German firms muscle-up in this field in
Vietnam.
Vietnam has great potential for
renewable sources throughout the country. The Vietnamese government is giving
greater attention to wind energy projects as part of a solution to the
country’s current energy shortage. These sources of renewable energy will
partially meet Vietnam’s increasing energy demand.
Wind potential is greater in
Vietnam compared to other countries in the region. According to the World
Bank’s wind studies for four countries in the South East Asian region in 2001,
Vietnam had the greatest wind potential compared to its neighbouring countries
such as Laos, Cambodia and Thailand. There are increasing interest and new
projects in wind energy from Vietnamese and foreign investors.
At the German-Vietnamese Business
Conference taking place on September 19, 2012 in Ho Chi Minh City, the German
Federal Minister of Economics and Technology, Dr. Philipp Roesler, Vietnam’s
Minister of Industry and Trade Vu Huy Hoang and delegates had discussions on
business relationship and economic co-operation between Germany and Vietnam.
Roesler affirmed, “Germany is
willing to transfer its expertise on renewable energy to Vietnam.” According to
the German minister, Germany had great expertise in the renewable energy field
as renewable energy accounts for 20-25 per cent of total energy supply in
Germany.
Understanding Vietnam’s
determination to increase its renewable energy supply and consumption, Germany
will prioritise working with Vietnam in this field with an emphasis on
Vietnam’s economic restructuring toward a sustainable economic growth, greater
competitiveness and higher production efficiency.
Germany is a leader in
technological development in Europe, especially clean energy technology and
extensive management experience. Germany presents valuable resources to
Vietnam’s economic modernisation and sustainable growth with advanced yet
friendly technology.
Although the Vietnamese
government has issued several investment policies and incentives, more
transparent policies and mechanisms are needed to attract greater investment
into Vietnam. The current wind energy project development has only tapped into
a small portion of Vietnam’s wind potential.
Some of the reasons for the wind
energy project development delay are the lack of policies and mechanisms for
wind power selling and purchasing schemes, a lack of consistency and
transparency between local and governmental regulatory authorities and weak management
and technical competency for a wind energy project development.
The greatest barrier to
investment in wind energy projects is the low power purchasing price. The
current cost of electricity generated from wind power plants is still quite
high due to large technical investment. Until the purchasing price is higher,
investment from the private sector into wind energy project is expected to be
low.
vir.com.vn
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