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On 28 October 2021, the Norwegian Ambassador handed over this report to the Ministry of Industry and Trade (MoIT) on the occasion of the 50th anniversary of Norway – Vietnam diplomatic relations in Hà Nội.

The report entitled “Vietnam supply chain study” was compiled by Equinor, a Norwegian broad energy company and member of the Norwegian Energy Partners (NORWEP). The 70-page report provides an overview of the supply chain for the offshore wind industry in Vietnam. Specifically, it includes key players, status quo, advantages, and remaining gaps in the market. Furthermore, this report suggests the priorities that Vietnam can take to stimulate the growth of strong, local supply chains to create skilled jobs and export to other offshore wind markets. It also points out further international cooperation between Vietnamese partners and Norwegian and foreign companies in the area of offshore wind energy. Such joint offshore wind projects are expected to generate lower price power and thus create affordable access to renewable energy for all.

Minister of MoIT, Nguyễn Hồng Diên, said that the report is a timely gift for Vietnam in the sense that the country is “implementing its political determination to shift from fossil fuel to a greener and cleaner energy” and further international cooperation is needed.

Report “Vietnam supply chain study” compiled by Equinor. Source of figure: “Norway supports Vietnam’s green energy transition” at https://www.norway.no

According to the World Bank, offshore wind could provide 12% of Vietnam’s electricity by 2035. Over 200 million tons of CO2 emissions could be potentially reduced if coal-fired generation is gradually phased out. Additionally, this could add US$ 50 billion in the form of a strong local supply chain, job creation, and exports to the country’s economy. The transition to green energy will also attract more long-term international climate financing and investments.

Sources & further information: “Norway hands over offshore wind report to VN” at https://vietnamnews.vn, “Norway supports Vietnam’s green energy transition” at https://www.norway.no, and “Offshore wind ‘could deliver 12% of Vietnamese power’” at https://renews.biz, accessed on 2 November 2021.