Germany focuses on renewable energy development cooperation in Vietnam
German and EU investors are very interested in the renewable energy market in Vietnam, especially in the South which has great potential in wind and biomass power.
Among numerous industries, energy plays an important role in German development commitments in Vietnam through expansion of renewable energy sources and increased energy efficiency, Dr. Sebastian Paust, head of Development Cooperation at the German Embassy in Hanoi told Hanoitimes.
|Germany focuses on renewable energy development cooperation in Vietnam. Photo: EVN|
“In particular, we strongly encourage renewable energy development, especially of biomass and wind power sources as it contributes to reducing climate change impacts and minimizing dependence on traditional energies,” Mr. Paust said.
In addition to the development of energy supply, German development cooperation focuses on specialized training in the field of renewable energy in the coming time.
Germany and Vietnam launched bilateral development cooperation in the field of renewable energy 10 years ago and such cooperation has been realized through agreements, Mr. Paust added.
German has committed US$1 billion to development cooperation projects, including those in the field of energy in Vietnam. As of 2019, US$231 million has been disbursed.
The latest agreement on developing renewable energy was signed between the two countries in October 2019.
According to the roadmap, in the first week of this December, the two countries will discuss cooperation in the development of projects in all areas including renewable energy. Then the signing of these collaborative projects will take place at the government level in 2021, including energy and renewable energy, Mr. Paust said.
- FDI commitments to Vietnam reach over US$14 billion in H1 2022
- Companies from China and India temped to move to Vietnam
- Vietnam ready to become global production hub
- Vietnam opens doors for foreign investors in new business fields: PM
- Vietnam startup scene poised for new heights in 2022
- FDI inflows to Vietnam remain resilient despite global uncertainty: World Bank
- European businesses confident in Vietnam’s investment environment
- Vietnam is among top expansion destinations for Indian companies
- IFC and partners to develop US$300-million “super port” in Vietnam
- FDI to Vietnam set for booming period in 2022
Vietnam to solidify macro-economic stability: PM
European businesses positive about Vietnam’s prospects for green growth
Who is the Vietnamese for whom a Paris square has just been named?
Hanoi among Top 10 cities in Southeast Asia
Vietnam's National Assembly to legalize commitments at COP26
Vietnam looks for UK support in finalizing financial regulations: NA Chairman
UK multinationals pledge long-term presence in Vietnam
Australian Foreign Minister enjoys Pho ga in Hanoi
Hanoi GRDP growth hits 7.79% in first half