Transparency in Transportation Operations: Energy consultant in Vietnam

Hiển thị các bài đăng có nhãn Energy consultant in Vietnam. Hiển thị tất cả bài đăng

Recently, the Ministry of Industry and Trade of Vietnam has cooperated with Denmark on clean energy development. Denmark has contributed to provide an important foundation for economical and efficient use of energy in Vietnam.

Another important cooperation content of the Vietnam – Denmark Energy Partnership Cooperation Program is the biennial publication of the Vietnam Energy Outlook Report. This report emphasizes energy efficiency as a cost-effective tool for Vietnam’s green transition to 2030 and 2050 and recommends investment in energy-saving technologies because of this technology will be more cost effective due to the significant savings in fuel costs. Economical and efficient use of energy has many benefits, including major benefits to society such as reducing environmental pollution and enhancing national energy security.

Vietnam is a country with the potential to develop clean energy such as wind energy, solar energy, tidal energy, … with the advantage of being a country adjacent to the sea, near the equator, with high hours of sunshine in a year, these are enough for Vietnam to become a country with a sustainable clean energy base. However, due to many objective factors, Vietnam has not been able to make good use of this resource. The limitation in science, technology, engineering and finance makes the clean energy sector in Vietnam not really focused on development.

Denmark is a European country with many years of experience in clean energy development. After many years of researching the clean energy market in Vietnam, many Danish investors have found the benefit and the ability to develop this field. With the goal of developing clean energy, providing energy efficient and safe platforms. Meanwhile, Denmark has many companies in wind and solar power and is very interested in market entry into Vietnam market through setting up company, or manufacturing in Vietnam.

In addition, Danish investors also promote development, investment cooperation, building smart city in Vietnam, apply science and technology applications and clean energy to build and develop a sustainable way. Therefore, this is an opportunity for Vietnam to attract energy investment from Denmark and also an opportunity for Danish investors to invest in Vietnam. In the coming time, Vietnam hopes to have more investors from Denmark implementing energy development projects in Vietnam so that they can reap high returns for both investors and Vietnam in the future.

Vietnam is known as a rich country with natural resources. The energy industry of Vietnam has developed for a number of years but the lack of modern technology and capital that makes Vietnam has still stalled in this potential field. By the strength of resources, cheap labor, and transport, Vietnam is attracting many foreign investors to invest in the energy industry. Our energy and resources lawyers in Vietnam always monitor the legal environment and keep our client posted to changes that could impact their business.

In particular, Vietnam has considerable supplies of oil, natural gas and refineries. Proven oil reserves in Vietnam amount to 3.3 billion barrels as the second-most in Southeast Asia, after Indonesia. Revenues from oil and gas contribute about 30% of Vietnam’s GDP. Vietnam Oil and Gas Group (PetroVietnam), a state-owned company is eligible to conduct petroleum activities, sign cooperation contracts and govern petroleum industry in Vietnam.

For exploration and production, sea zones in Vietnam are divided into different geographic “blocks” based on the advice of PetroVietnam. The size and scope of these blocks can vary from year to year, depending on the scale of the activities undertaken by the company currently assigned to it. According to Law on Petroleum 1993, amending in 2000 and 2008, to participate in this field, the investors have to join the bidding for researching and exploiting petroleum. In special cases, the Vietnam Government may appoint the contractor to select investors wishing to engage in petroleum. Then the investor must enter into a dividing product or joint venture or other contract which contents all terms as required by Article 15 (amended), managed by the Vietnam Government. This contract’s term shall not exceed 25 years in which period of research and exploration not exceed 5 years. The duration may be extended 5 years for the contract and 2 year for period of research and exploration. In case projects are encouraged to invest in petroleum and exploring natural gas, the term can be 30 years and 7 years for a period of research and exploration.

Taxation for petroleum activities is based on the type of natural resources exploited, economic, technical conditions of the mines, the amount produced. According to law on Petroleum and other provisions on taxation, the natural resources tax rate is from 4% to 25% for crude oil, 0% to 10% for natural gas. To ensure the reserve aiming to domestic demand, Vietnam has regulated export rate for natural resources, especially tax rate at 20% for crude oil and coal. This regulation was implemented to encourage companies in Vietnam to refine crude oil in the country as the new refineries come online.

The Politburo’s Resolution 55-NQ/TW in 2020 creates great hope for business expansion for FDI enterprises providing complete equipment, technology and solutions for Vietnam energy market.

According to Wärtsilä Vietnam Country Director, Resolution 55-NQ/TW aims to develop synchronously and reasonably, diversify types of energy, prioritizing the exploitation and use of all renewable energy sources, new energy, clean energy. This is the core business of Wärtsilä (from Finland, specializing in the development of sustainable and closed solutions for the energy market) for the past 184 years.

In the Vietnamese market, Wärtsilä is doing strong marketing with the hope of increasing sales by providing technology for power projects. Wärtsilä’s energy business is leading the transition towards a future using 100% renewable energy. Wärtsilä offers flexible power plants, energy management and storage systems, as well as closed services to increase effectiveness and ensure efficiency.

With the push of the Government, in recent years, renewable energy has developed extremely strong in Vietnam and this is a very good opportunity to invest in the energy sector in Vietnam.

Another supplier – Fortum Power and Heat OY Finland is also looking forward to the coming of Resolution 55-NQ/TW to come to life soon. This business provides technology to minimize harmful thermal power emissions, mixed energy system development solutions in many markets around the globe.

Fortum’s hydropower plant efficiency enhancement technology will enable efficient hydropower plant operation, minimizing overhaul and plant downtime. With coal-fired power, Fortum’s technology allows it to replace up to 40% of the required amount of coal in coal-fired thermal power plants… This is what is being considered in the Vietnam energy development process.

With the national electricity demand growth rate for the 2016 – 2020 period of 10.6% and 8.5% for the period of 2021 – 2025 and 7% in the period of 2026 – 2030, Vietnam becomes an attractive market for domestic energy investors and foreign direct investment (FDI) enterprises. Accordingly, Vietnam needs to mobilize an additional 5,000 MW from now to 2025, which means that each year, it needs to pour an additional 7 – 10 billion USD to invest in power projects.

There have been new moves to welcome FDI inflows into energy. Recently, the US Millennium Company has been allowed by the Management Board of Van Phong Economic Zone (Khanh Hoa) to survey and research projects in the Van Phong area to study the feasibility of the gas-power project complex.

According to Millennium, the LNG Center Project (over 10 million m3) and the Power Plant (capacity of 4,800 MW) has a total initial investment capital of 8 billion USD. In the future, the Company will increase the capacity of the power plant to 9,600 MW and the warehouse to 15 million m3, with an investment of 15 billion USD. Secretary of Khanh Hoa Provincial Party Committee affirmed that the idea of implementing the LNG Center and Power Plant Project of Millennium Company is suitable with the potential and orientation of industrial development in this area.

Previously, at the Vietnam Energy Summit 2020, a series of cooperation in the implementation of energy projects was signed. Typically, Copenhagen Infrastructure Partners (CIP – Denmark) and Binh Thuan province have signed a Memorandum of Understanding for the development of La Gam offshore wind power project with a total capacity of up to 3.5 GW, with an investment of 10 billion USD. This is one of the first large-scale offshore wind power projects in Vietnam, as a prerequisite for attracting other foreign investors to offshore wind power projects.

CIP is a pioneer in the offshore wind power industry in the Asia – Pacific, including projects in Vietnam, Taiwan, Korea, Japan and Australia. CIP operates 7 funds with more than 10 billion USD in committed capital. Funds have implemented more than 20 portfolios in energy infrastructure, with a total capacity of nearly 8 GW in the United States, UK, Germany, Spain and Taiwan. The funds also have more than 15 energy infrastructure projects that are in the process of preparing final investment decisions and are expected to commence within the next 2 – 3 years.

According to the founding member of CIP, with the project in Binh Thuan, CIP commits to continue to cooperate with local partners to turn this project into a model of a successful technology transfer project in parallel with making maximum use of local resources and expertise.

On June 15th, 2020, at the National Assembly’s socio-economic discussion session, the Ministry of Industry and Trade clarified a number of issues related to the implementation of power projects and energy security in Vietnam amid the the situation of energy supply, especially electricity supply is facing many difficulties when hydroelectric and thermal power reserves are almost fully exploited and the risk of energy import is increasing.

Vietnam has the advantage of being an equatorial country, with high annual sunshine hours (average from 1800-2600 hours/year) which is an advantage to develop solar energy. Vietnam has a long coastline (3260 km) and favorable terrain, the construction of wind power stations is a solution that can help improve Vietnam’s electricity output in the next years.

As reported by the Ministry of Industry and Trade, for solar power, the total planned capacity of about 10,300 MW has been operated on 90 solar power projects with a total capacity of about 5,000 MW. For wind power, as proposed by the Ministry of Industry and Trade, the Prime Minister has agreed to supplement the planning of an additional 7,000 MW of wind power, raising the total scale of wind power capacity planned to 11,630 MW.

In addition, according to Vietnam’s commitment at COP21, Vietnam will reduce the greenhouse gas emissions by 8% by 2030. And with effective support from the international community, Vietnam can cut its emissions by 25% greenhouse gas emissions by 2030. And the Clean energy technology is one of the best solutions to fulfill this commitment.

In addition, the installation, operation and maintenance of wind and solar power systems are relatively simple, at low cost therefore will save time and cost for investors. Besides, clean energy does not cause impacts on large-scale migration environment, such as deforestation, emissions of dust, water and ash, etc. In contrast, it also creates beautiful and majestic landscapes, and attractive to visitors, this is in line with Vietnam’s sustainable development goals in the future.

With economic and environmental advantages, the scientists forecast that, in the world to 2040 and 2050, the percentage of solar power capacity in total generating capacity will be 45% and 50 %; The structure of electricity production by 2050 is as follows: Number 1 is solar power: 35.8%; followed by onshore wind power: 24.3%; Offshore wind power: 12.1%; Hydroelectricity: 12.4% and the rest are other sources of renewable energy and fossils and nuclear: 15.4%.

In order to ensure the implementation of the overall plan for the coming time, the Ministry of Industry and Trade is focusing on speeding up the construction of the electricity Planning No. VIII to submit to the Government in the fourth quarter of 2020. In particular, following the contents of the Resolution No. 55-NQ/TW of the Politburo on “Vietnam’s national energy development strategy orientation to 2030, vision to 2045” on February 11th, 2020, according to which ratio of sources of renewable energy in the total primary energy supply will reach about 15-20% by 2030; 25-30% by 2045.

According to Resolution No. 55-NQ/TW, Vietnam will develop breakthrough mechanisms and policies to encourage and promote the renewable energy sources in order to replace fossil energy sources at maximum. Prioritizing the use of wind and solar energy for electricity generation; encourage investment in building power plants using urban waste, biomass and solid waste in parallel with environmental protection and economic development of the circulation. To establish and develop a number of renewable energy centers in advantageous regions and localities. Then researching and assessing the overall potential and developing development orientations for geothermal energy, ocean waves, tides and ocean currents; deploy a number of application models, conduct pilot tests to evaluate the effectiveness. To undertake technological research, formulate a number of production pilot projects and encourage the use of hydrogen energy in line with the general trend of the world. In addition, the Resolution prioritizes the development of renewable energy in line with the ability to ensure system safety with reasonable electricity costs and encourage the development of rooftop and surface solar power. To develop groundbreaking support policies and mechanisms for offshore wind power development in association with the implementation of the Vietnam’s Sea Strategy.

With advantages and priority policies for renewable energy development as above, Vietnam hopes that more international investors will invest and set up company in renewable energy to in Viet Nam.

Many foreign investors have chosen Vietnam as a destination to invest in solar power project in Vietnam.

Together with the explosion of solar power projects, 2019 is considered to be the peak year of the ‘underground waves’ surrounding the race for additional licenses for solar power planning in all levels from central to local. The situation of license trading, project transfer to foreign investors also appeared.

Along with the rush of solar power projects, in recent days, a series of news that many weak investors still have acquired large-scale renewable energy projects, then quickly transferring to foreign investors to make profit gradually appearing in many forums about renewable energy. Even, according to the announcement of foreign investors, the transfer of solar power projects in Vietnam is taking place very excitingly.

Most recently, the Board of Directors of Super Energy Corporation Company Limited (Super Energy) of Thailand announced that at the end of March 2020, they have sent a letter to the Thai Securities Commission announcing the decision to spend no more than 456.7 million USD to invest in 4 solar power plant projects, including Loc Ninh 1 (200 MW), Loc Ninh 2 (200 MW), Loc Ninh 3 (150 MW) and Loc Ninh 4 (200 MW) in Binh Phuoc province (Vietnam).

According to the announcement, the investment in Loc Ninh 1 solar power project is 99.7 million USD; in Loc Ninh 2 is 140 million USD; in Loc Ninh 3 is 105 million USD and in Loc Ninh 4 is 112 million USD. In order to raise the ownership rate at businesses implementing the 4 solar projects, the Super Energy project has to pay a total of 72.9 million USD as scheduled. In particular, the amount paid in March 2020 is more than 5.7 million USD. Specifically, the payment in March 2020 was 13,667 million USD. The amount payable in June 2020 will be 32.4 million USD and the amount payable in November 2020 will be 11.6 million USD. Under the agreement, if the purchase price is different from the forecast of 7.09 US cents/kWh, the value of the stock will be adjusted according to the actual purchase price.

However, according to initial information, not all Vietnamese partners (many believe that subsidiaries of Hung Hai Group) will receive all this money. Currently the first payment took place with the amount of 5,732 million USD. The remaining payments will be accompanied by detailed conditions such as when there is land lease decision, construction permit, grid contract, land use right certificate, or certificate of eligibility for commercial electricity generation with the purchase price of electricity is 7.09 UScents/kWh…

Notably, before the acquisition of the 4 mentioned projects, the Thai energy company owned 6 solar power projects in Vietnam. As of March 2020, these 6 projects alone had a total capacity of up to 286.72 MW, equal to half of the total capacity of 100 solar power projects in Thailand that SEC owns.

A special feature is that all 6 power projects in Vietnam that Super Energy acquired earlier only had the return on investment (EIRR) of 12-13%. And power projects under Loc Ninh project cluster have much higher EIRR, from 16.59% to 17.4%. In addition to solar power projects, the SEC also owns 4 wind power projects in Vietnam, in Bac Lieu, Soc Trang, Phu Yen and Gia Lai provinces. These projects are expected to be fully or partially operational from Q4/2021.

According to research, through the form of joint venture, transfer of shares with Vietnamese enterprises, many foreign energy and investment corporations have owned dozens of solar and wind power projects and enjoyed preferential prices of 9.35 UScents/kWh for 20 years in Vietnam.

Among these are the two solar power plants TTC 1 and TTC 2 in Tay Ninh, invested and operated by Thanh Thanh Cong Group and Gulf Energy Group (Thailand), operated in the middle of 2019. At that time, Thai group owns 49% of the capital but in the latest change, Gulf has increased its holding to 90%. Apart from the solar power projects in Tay Ninh, Thai group also holds wind power projects in Ben Tre with 95% ownership.

In addition to the above mentioned projects, Super Energy has also invested in the form of buying shares in solar power projects in Ninh Thuan, An Giang… In addition to Thailand, many investors come from Singapore, China, Philippines… also owns dozens of solar and wind power projects in Vietnam through shares and joint ventures.

The Ministry of Industry and Trade has recently issued Circular 16/2017/TT-BCT on project development and the model purchase contract for solar power projects.

Accordingly, the grid connected solar power investment projects are regulated as follows:

– The investor can only set up a solar power investment project included in the provincial and national level solar-power development plan; or provincial and national power development plan that are approved.

– The contents of the solar power investment project must comply with the regulations on management of investment in construction and the following requirements:

+ Evaluate the impact of solar power project connection plan on the power system in the area.

+ Having equipment connected to the SCADA system or moderation information so that the forecast information on electricity output can be transmitted per hour to the regulated agency.

– The equity ratio of grid connected solar power projects should not less than 20% of the total investment.

– The area of long-term land use shall not exceed 1.2 ha/01 MWp.

Circular 16/2017/TT-BCT takes effect on October 26th 2017.

First Solar Corporation – one of the US investors have set up business in Vietnam in the field of high technology.

After several years of halt operation, First Solar Corporation (USA) has officially restarted the project of manufacturing solar panel with thin-film technology in Ho Chi Minh City (HCMC).

So far, First Solar’s project (in the Dong Nam Industrial Zone, Cu Chi district, HCMC, investment capital of 1.2 billion USD) is still the only and largest scale project, producing solar panel with thin-film technology in industrial parks and processing zones in HCMC. Therefore, the dynamics of investors involved in this project attracted great attention.

First Solar’s contractor has started work for about two months. Meanwhile, the investor is coordinating with the authorities to carry out the works such as making environmental impact assessment reports, import and export procedures… After completing the necessary works, Fisrt Solar will carry out the import of equipment and machinery for factory installation to prepare for production.

It is known that First Solar’s project was granted investment certificate in January 2011 and started construction in March 2011. However, 8 months after starting construction, the investor has announced a temporary halt to the project, due to the supply-demand imbalance of solar cell products in the global market.

According to a privileged information source, on early August 2017, representatives of First Solar Corporation is expected to meet and share information on the implementation of the project with leaders of HCMC.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

On July 3rd, ACWA Power Energy Corporation from Saudi Arabia and FECON JSC have signed Memorandum of Understanding on cooperation to develop renewable energy projects in Vietnam.

According to the national electricity development plan and the renewable energy development strategy of Vietnam, the Vietnam Government prioritizes the mobilization of all resources to develop renewable energy, increasing the rate of electricity produced from renewable energy sources (excluding medium and large hydropower), account for 7% by 2020 and above 10% by 2030. In which, wind and solar power are areas of great concern. Along with the above strategy, many incentives and support mechanisms are being built and perfected to attract investors in this field.

Recognizing this potential, ACWA Power (Saudi Arabia) decided to choose Vietnam as the first and strategic country in Southeast Asia to invest in renewable energy projects. ACWA Power is a developer, investor, operator and co-owner of a portfolio of power plants in 12 countries in the Middle East, North Africa, South Africa and Southeast Asia. Particularly in the Middle East, ACWA Power is a developer of electricity and water in the top 2 of region.

ACWA Power’s portfolio is valued at over 30.5 billion USD, with a total generating capacity of 21.5 GW.

According to the Memorandum of Understanding, FECON and ACWA Power will jointly study and evaluate the opportunities and potential of renewable energy investment in Vietnam. Particularly wind and solar power projects in some provinces in the Southern of Vietnam such as Binh Thuan, Ninh Thuan… Then, the two sides will set up joint venture company to invest in specific projects.

Furthermore, according to CEO of ACWA Power, Vietnam is the perfect place for investors to invest and develop renewable energy projects in the coming time. The investment potential in Vietnam is huge due to the increasingly cheaper technology cost, with the advantage of resources, the local partner ‘s understanding and the advantages of modern technology and capital. The cooperation between the two sides will certainly go to success. ACWA Power’s CEO also expects the Government of Vietnam will to continue to support and license the projects of this Corporation when they expanding investment in Vietnam in the future.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

IL Yang Industrial Company (Korea) is planning to invest in Vietnam, conducting research, study, proceed to set up company building solar power plant in Quang Tri province, Vietnam.

On December 22nd, IL Yang Industrial Company (Korea) had a meeting with Quang Tri People’s Committee to discuss their investment in solar power project in Quang Tri province. Previously IL Yang Industrial Company had a field trip in Hai Lang and Vinh Linh district, Quang Tri province.

According to IL Yang Industrial Company, through surveys, the Company found that Quang Tri is a potential province to develop solar power. Therefore, in the coming time, the Company will continue to work with the province and other sectors to better understand the indicators to study, proceed to invest in building solar power plant in Hai Lang district with the capacity of 500MW and Vinh Linh district with the capacity of 200MW.

At the meeting, IL Yan Industrial Company expressed their wish to exchange relevant information as well as support and create favorable conditions from Quang Tri province’s leaders to study the project.

According to the People’s Committee of Quang Tri province, Quang Tri province is currently planning to attract investment projects in the field of industry, with priority in the areas of competitive advantage and environmentally friendly industries. In fact, there have been some solar power projects in the area.

The proposed investment in solar power plants in Hai Lang and Vinh Linh of IL Yang Company with advanced technology is suitable with the planning policy of locality. Since then, Quang Tri province is ready to cooperate, create conditions for the company to complete procedures and apply the maximum support policies of the province.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

The very first wind power plants, one in Binh Thuan and one in Bac Lieu, can be considered a breakthrough to pave the way for the construction of Vietnam’s wind power industry, which is expected to be pillar of the future power source in Vietnam.

In the field of renewable energy, hydropower and wind power are considered clean power sources

In fact, hydropower has hidden dangers for communities. On the other hand, wind power is friendly and gentle to humans. We can consider hydropower as an old power source and the wind power is the young one. While hydropower has been playing a vital role in the power industry of many countries, wind power has only been noticed and invested for about 5 – 10 years.

With the wind power plants in Bac Lieu, Binh Thuan and Ninh Thuan, recently, Vietnam Prime Minister has agreed to invest in a wind power plant in Khai Long resort – Ca Mau.

Under the direction of the Government, the investment objective of the above project is to build a wind power plant, connecting to the national electricity system and sell electricity through power purchasing agreement with the Electricity of Vietnam (EVN), contributing to ensure national energy security.

The plant will be built in Khai Long Village, Dat Mui Commune, Ngoc Hien District, Ca Mau. The total installed capacity is 100 MW on an area of land and sea of approximately 2,165 hectares.

The project will be implemented in the period from 2016 to 2018.

According to the Ministry of Industry and Trade, Vietnam currently has nearly 50 registered wind power projects but only about 10% of which are under construction, of which 3 projects are producing commercial electricity, which are Tuy Phong wind power project (Binh Thuan) with capacity of 30 MW; Phu Quy island wind power project with capacity of 6 MW in Binh Thuan; Bac Lieu wind power project with capacity of 16.5 MW.

Most recently, Phu Lac wind power project (Binh Thuan) with capacity of 20 MW and the total investment of nearly 1,100 billion USD has been started construction in July 2015.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

Energy market in Vietnam

Vietnam has issued many policies and incentives for the development of the power sector. This is a good time to attract foreign capital into Vietnam energy industry, including those from Korea.

According to Mr Nguyen Van Vy, Vice Chairman of the Vietnam Energy Association, with the goal of raising the proportion of electricity produced from renewable energy to 32% by 2030 and 43% by 2050, Vietnam currently has about 50 wind power projects, more than 100 solar power projects and many other biomass energy development projects are under study.

Meanwhile, according to the National Electricity Development Plan 2011 – 2020 with a vision to 2030, Vietnam will accelerate the development of electricity production from renewable energy and reduce the proportion of hydropower.

In order to realize these objectives, Vietnam has promulgated many policies and incentives to encourage the development of renewable energy, such as investment credit, import tax, export tax, enterprise income tax, exempt land use fees and land rents for renewable energy projects, provide financial support for scientific and technological research activities on energy. At the same time, calling for investment and receiving science and technology to develop the domestic electricity equipment industry.

More recently, many Korean businesses have come to the provinces to look for investment opportunities in renewable energy projects, such as IL Yang Industrial Co., Ltd., proposed to Quang Tri province to invest in building solar power plant in Hai Lang District (capacity 500 MW) and Vinh Linh District (capacity 200 MW); Or VTC company, after inquiring in Bac Lieu province, they are preparing large capital for wind power project and if approved, they will quickly expedite the necessary procedures as prescribed.

At the Vietnam – Korea Renewable Energy and Power Industry Forum recently held in Ho Chi Minh City, according to Mr Paik Un Gyu – Minister of Commerce, Industry and Energy of Korea, the two countries have long-term cooperation potential in the fields of energy, renewable energy and smart grid.

According to Mr Paik Un Gyu, Korea will actively invest in power generation and renewable energy development projects in Vietnam as a strategic partner. In addition, Korea also supports the training of human resources and technology transfer to develop internal power and renewable energy in Vietnam.

On this occasion, at the 8th Session of the Vietnam – Korea Joint Committee for Cooperation in Nuclear Power, Energy, Industry and Trade, the two sides agreed on a number of bilateral cooperation. In particular, there are many cooperation in the field of energy, such as cooperation in projects to build power plants in the form of BOT; cooperation in the field of oil and gas; cooperation in renewable energy; cooperation on energy security management; development cooperation in supporting industries…

This is the basic content for the two countries to develop and implement concrete and practical projects to further develop cooperation in the fields of industry, trade and energy in 2018 and the coming years.

According to Korean businesses, now is a good time for enterprises to learn about the strategy and planning for development of electricity and renewable energy as well as contact and exchange directly with the leading enterprises of Vietnam. Accordingly, enterprises of the two countries can consider the possibility of cooperation in various forms, such as joint venture investment in the development of power projects, cooperation in providing technology, equipment and specialized materials.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 3520 2779 or email us ant@antconsult.vn

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