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| A wind power project in Vietnam illustrates the country’s commitment to renewable energy sources (Photo: VNA) |
Vietnam is witnessing a significant push for the research and development of technology in its wind and solar power sectors, as evidenced by a recently enacted government decree.
This decree, effective from March 3, elaborates on key provisions of the Electricity Law pertaining to the advancement of renewable and new energy sources. Notably, it gives priority to projects that harness renewable energy with integrated energy storage systems, connecting to the national electricity grid during peak demand hours, as stipulated by regulations. This excludes electricity that is self-produced and consumed.
The government is strategically focusing on initiatives that involve the research, development, and practical application of science and technology. This includes the production of solar panels, wind turbines, and power conversion equipment, which are integral to the country’s energy transformation agenda.
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| The Da Mi Solar Power Plant, with a capacity of 47.5 MWp, is constructed on the Da Mi Hydropower Reservoir in Ham Thuan Bac District, Binh Thuan Province, showcasing Vietnam’s progress in solar energy utilization. (Photo: VNA) |
These pioneering projects are entitled to exemptions from maritime area use fees during the initial infrastructure construction period, up to three years from the commencement of construction. Furthermore, they benefit from a 50% reduction in these fees for the subsequent nine years. Land use and land lease fees are also waived during the infrastructure construction period, not exceeding three years from the start of construction. After this grace period, reductions or exemptions will be determined in accordance with prevailing investment and land-related regulations.
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Swedish Ambassador to Vietnam, Johan Ndisi, has emphasized the impressive growth of his nation’s gross domestic product (GDP), alongside a reduction in electric consumption. This sustainable development showcases Sweden’s expertise in balancing economic growth with environmental protection. Ambassador Ndisi hopes that by sharing these achievements, Sweden can inspire and support Vietnam in its journey towards net-zero emissions.
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Denmark’s success is a testament to the possibility of achieving economic growth hand-in-hand with reduced energy consumption and emissions. This offers invaluable lessons for developing nations such as Vietnam, as it showcases a sustainable path forward, where economic prosperity need not come at the cost of environmental degradation.
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“Like the resilient palm, standing strong against the fiercest of storms and the relentless wind, the relationship between India and the United States will not only endure but thrive and bring prosperity to the globe,” proclaimed US Ambassador Eric Garcetti on Monday.
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Vietnam News Today (Mar 24): Vietnam firmly refutes any claims that go against international law in the East Sea region. The country continues to be an appealing destination for foreign investors. SK Group expresses strong interest in developing solar and wind power projects in Vietnam. The cultural exchange between Vietnam and Japan further strengthens their friendship.
Vietnam’s Green Transformation Holds Massive Potential, According to Experts
By prioritizing infrastructure development, enacting progressive policies, and investing in human capital, Vietnam can build a sustainable future while reaping the diverse economic benefits that come with it. Through strategic planning and decisive action, Vietnam can position itself as a thriving economy in the global arena.
