Vietnam Energy Forum 2023: Boosting Renewable Energy Localization

The 6th Vietnam Energy and Technology Forum 2023, held on December 14th in Hanoi, brought together key stakeholders to discuss the critical topic of renewable energy localization within Vietnam’s rapidly evolving energy sector. The event was organized by the Ministry of Science and Technology, Ministry of Industry and Trade, and Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK), with coordination from the Department of Technology Application and Development and the Department of Electricity and Renewable Energy, alongside the GIZ Energy Support Programme and CASE Project. Participants included representatives from government bodies, industry associations, corporations, and individuals passionate about advancing Vietnam’s energy transition.

The forum’s discussions centered on the current landscape, opportunities, challenges, and potential solutions for increasing the rate of localization in Vietnam’s renewable energy sector. This is particularly vital as Vietnam leads Southeast Asia in energy transition and is a vibrant market within the Asia-Pacific region. The National Power Development Plan VIII (2021-2030, with a vision to 2050) prioritizes renewable energy, aiming for a 30.9-39.2% rate by 2030, progressing towards a target of 47%, contingent on international commitments through the Joint Energy Transition Partnership (JETP). Projections extend to a renewable energy rate of 67.5-71.5% by 2050. However, the current rate of supply chain localization and the involvement of Vietnamese businesses in the wind and solar power industry remains comparatively low.

The forum featured two key sessions. The first focused on assessing the current state of Vietnam’s renewable energy sector, identifying opportunities for localization, and examining international experiences in building local manufacturing capabilities and service provision. The second session involved panel discussions aimed at exploring current challenges and devising solutions for promoting technological localization in wind and solar energy development within Vietnam.

Among the speakers was Mr. An, Pham Dang – Deputy General Director of Vu Phong Energy Group and Director of VP Carbon – who contributed to the second session. Other notable participants included Ms. Lan, Tran Thi Hong (Deputy Director of the Department of Technology Application and Development), Mr. Hung, Bui Quoc (Department of Electricity and Renewable Energy), Mr. Thinh, Bui Van (Chairman of the Binh Thuan Wind and Solar Energy Association), Ms. Binh, Truong Chi (Vice President and General Secretary of Vietnam Association for Supporting Industries), and Mr. Truong, Mai Quoc (General Director of Ba Son Corporation).

Mr. An, Pham Dang – Deputy General Director of Vu Phong Energy Group, Director of VP Carbon – shared insights during a discussion session.

Panelists addressed the state of the renewable energy sector, the level of current localization efforts, and the obstacles Vietnamese businesses encounter when seeking to integrate into the supply chain. Discussions extended beyond policy and legal frameworks, also addressing the need for technological resources and a skilled workforce – critical factors in the localization process.

Participants offered recommendations and solutions to accelerate the rate of renewable energy localization. Mr. An, Pham Dang, highlighted the proactive role of businesses, suggesting a focus not only on the domestic market but also on leveraging the broader trend of energy transition within the region. He also proposed exploring collaborative opportunities in the clean energy and green transportation supply chain to foster comprehensive sector growth, reduce greenhouse gas emissions, and enhance Vietnam’s competitiveness on the international stage.

In a global context increasingly focused on renewable energy adoption for energy security and sustainable development, technological autonomy and localization are paramount. These efforts are essential not only to stimulate the growth of the domestic support industry but also to increase self-reliance within the sector and elevate the global recognition of Vietnamese brands across the entire value chain. Successfully addressing these challenges requires a collaborative approach involving government ministries, departments, businesses, scientists, and relevant organizations.

Vu Phong Energy Group

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Source: https://vuphong.com/vietnam-energy-and-technology-forum-2023/.