Eric Chin, an Entrepreneur Leadership Network Contributor, provided an analysis of the potential of renewable energy in Vietnam based on World Bank data, particularly wind and solar energy. In this regard, the following infographic of Vietnam News Agency summarizes this potential:
Eric Chin also pointed out the momentum for the growth of renewable energy in Vietnam including:
(1) rapidly increasing energy consumption: Vietnam is the second-largest power consumption in Southeast Asia, after Indonesia.
The Government of Vietnam has committed to increasing (renewable) energy supply and improvement of air quality (under public demand, esp. in urban areas). This has been manifested by supporting legislation and policies, e.g., feed-in-tariffs, tax incentives, and land lease waivers.
(2) “public desire for environmental preservation”, particular under the situation of severe air pollution in big cities like Hà Nội and Hồ Chí Minh City.
These drivers are also in line with analysis of Thang Nam Do et al. presented in a newly published paper “Vietnam’s solar and wind power success: Policy implications for the
other ASEAN countries”.
Sources & further information: “Unleashing Vietnam’s clean power potential” at https://en.infographics.vn and “Why Investors Should Look at Vietnam’s Renewable Energy Industry” at https://www.entrepreneur.com, accessed on 25 February 2022.