On 20 September 2024, EuroCham Vice Chairman Nguyen Xuan Thang and Nguyen Tuan Phat, Co-Lead of the DPPA Sub-committee under EuroCham’s Renewable Energy & Energy Efficiency Working Group (RE & EE WG), joined the Investment Legal Support Forum in Ho Chi Minh City. Organised by the Vietnam International Arbitration Centre (VIAC) and the Investment & Trade Promotion Centre (ITPC), the forum gathered experts and government officials to discuss renewable energy investment and green economic growth in Ho Chi Minh City.
Government Commitment to Renewable Energy
In his directive speech, H.E. Vo Van Hoan, Vice Chairman of the HCMC People’s Committee, underscored the city’s vision of aligning industrial development with renewable energy expansion, particularly solar and wind power projects. He highlighted the need for robust policy frameworks and green development models, calling for inclusivity so that “no one is left behind” in the city’s sustainable future.
EuroCham’s Contributions to the Renewable Energy Agenda
Speaking on behalf of EuroCham, Nguyen Xuan Thang delivered a presentation on attracting investments in renewable energy. He focused on the progress of solar panel projects in HCMC, particularly through public-private partnerships, while acknowledging the ongoing challenges in regulatory approvals and private sector collaboration. He cited successful collaborations such as the pilot rooftop solar projects in public offices across the city and investments facilitated by international partners like the Asian Development Bank (ADB).
Key Challenges and Solutions
Vice-Chair Thang also addressed the legal and regulatory barriers hindering private sector involvement, such as extended approval times and restrictions on the use of public rooftops for solar projects. He suggested drawing on international models, such as Singapore’s SolarNova Programme and India’s RESCO Model, to streamline processes and enhance private sector participation.
Looking Ahead: GEFE and Continued Collaboration
In conclusion, Vice-Chair Thang emphasized EuroCham’s ongoing efforts to advocate for regulatory improvements in renewable energy and promote international best practices. He encouraged attendees to engage in the upcoming Green Economy Forum & Exhibition (GEFE), scheduled for 21-23 October 2024 in Ho Chi Minh City. The event will provide a platform for businesses, policymakers, and investors to discuss innovative solutions and drive the green transition in Vietnam.
The forum’s discussion sessions also focused on enhancing legal frameworks, promoting technology transfer, and increasing private sector financing for renewable energy investments. The collaboration between foreign experts, local authorities, and industry players was deemed crucial to overcoming the challenges in Vietnam’s renewable energy sector.
