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Vietnam calls European business community to invest in renewable energy

Vietnam has urged the European business community to invest in renewable energy.

It made such appeal during the working session of Finance Minister Ho Duc Phoc with a delegation of EU-ASEAN Business Council in Hanoi.

So far, there is investment from Europe in many renewable projects in Vietnam with a contribution to country’s green economy and socio-economic development.

Since the Vietnamese Government is promoting the development of wind and solar energy, the minister said that it is the time to invest. He also shared about the “country’s circular economy, minimising coal-fired power and reducing emissions, and greenhouse emissions,” a local report mentioned.

The minister further said that the ministry will help in creating favourable conditions for businesses in customs clearance and tax payment activities.

To be noted, Vietnam has committed to achieve net zero emissions by 2050.

In response, the officials said that the EU is considering investing in Vietnam and the ASEAN market and pledged to strengthen cooperation with Vietnam.


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