Private investors eager to invest into environmental friendly projects
within Vietnam’s green growth strategy are awaiting clarification on investment
incentives before the year’s end.
Deputy Minister of Planning and
Investment (MPI) Nguyen The Phuong told last week’s conference on Vietnam
national green growth strategy: “Clear investment incentives for private
investors within the strategy will be announced in detail during the
consultative group meeting at the end of this year.”
The incentives would include tax
relief, land site and even loan priorities, he said.
Phuong’s words came after almost
all representatives from Vietnam-based international organisations and donors
attending the conference asked him to clarify specific investment attraction mechanisms
within the strategy, because measures to coax private companies carved in the
strategy was “vague.”
United Nations resident
coordinator Pratibha Mehta said the private sector’s participation and
contributions to the strategy were “crucial”.
“Real actions to improve
resource-use efficiency, development of green industries and renewable energy,
and advancement of new technology are being undertaken by businesses.
“But businesses require
predictability of their revenue stream, long-term economic stability,
transparency in regulation and a level playing field. A close dialogue with
domestic and foreign businesses is needed in order to address the barriers to
large-scale green investments by the private sector,” Mehta said.
Germany’s Federal Minister of
Economics and Technology Philipp Roesler in a recent meeting with MPI Minister
Bui Quang Vinh said that German investors were eager for renewable energy
projects in Vietnam. “But investors want to see concrete investment incentives
from the government,” he said.
Oliver Massmann, partner of Duane
Morris Vietnam law firm, told a business forum held on the occasion of
Roesler’s visit in September that many foreign investors wanted to invest in
wind power projects in Vietnam, but the government’s policy about purchasing
power from such projects remained unclear.
Pekka Paasivaara, member of the
executive board for German-backed Germanischer Lloyd Group, said in order for
Vietnam to lure foreign investors into environmental friendly energy projects,
the government needed to remove import tariffs for equipment and land rental
within a fixed period of time. “In another case, wind power price is far lower
than production costs. This cannot help Vietnam attract more foreign investors
into developing wind power project.
Khoi Nguyen | vir.com.vn
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