On Wednesday, 24 April 2024, EuroCham Vietnam participated in a workshop hosted by the Ministry of Industry and Trade (MoIT) on the Direct Power Purchase Agreement (DPPA) mechanism and rooftop solar energy. Chaired by Minister Nguyen Hong Dien, the event aimed to collect feedback from the business community.

     

EuroCham was well-represented with contributions from Board Member Anita Holgersen, as well as attendance by EuroCham Corporate Partner DEEP C, and members of our Green Growth Sector Committee, including Asian Clean Capital Vietnam and GreenYellow. 

Board Member Anita Holgersen praised the MoIT for its efforts to enhance the legal framework for Direct Power Purchase Agreements and rooftop solar projects. She acknowledged EuroCham’s proactive approach in compiling member feedback on these drafts, highlighting our organization’s commitment to further dialogue with the ministry.

Mrs. Holgersen also underscored the significant potential for renewable energy investments in Vietnam, which are not only technically feasible and economically viable but also crucial for national economic growth. Emphasizing the need for a compelling business model, she stated that there is robust interest in renewable projects in Vietnam. These models, if attractive and bankable, can draw substantial foreign direct investment.

Additionally, Mrs. Holgersen announced the upcoming Green Economy Forum & Exhibition 2024 (GEFE 2024), scheduled for 21 to 23 October 2024 in Ho Chi Minh City. She extended an invitation to MoIT representatives, stressing the forum’s importance in fostering collaboration between Team Europe and Vietnam on sustainable development.

EuroCham has already actively provided feedback to the government regarding mechanisms for both DPPAs and rooftop solar, and we appreciate the MoIT’s openness to dialogue.

Concluding the workshop, Minister Dien reiterated the government’s commitment to achieving Vietnam’s carbon neutrality goals and enhancing the efficiency of the power sector through these regulatory updates. These mechanisms are designed to streamline the electricity market across generation, wholesale, and retail, and to position Vietnam towards a sustainable and circular economic model.

For a full report on the specifics of the discussion, read this piece from VN Economy.