A new era for German-Vietnam renewable energy cooperation

Renewable energy topped the agenda of the German-Vietnamese Business Forum

An important part of the business forum was the signing of memorandum of understanding (MoU) of investment projects worth EUR4 billion in total. One of them was concluded between German renewable energy market leader Enercon and Trung Nam Corporation from Vietnam.

In his keynote speech, Vietnamese Prime Minister Nguyen Xuan Phuc also emphasised the many opportunities for business cooperation in the field of renewable energy between Vietnam and German companies.

The signing, which was qualified by Brigitte Zypries, Federal Minister for Economic Affairs and Energy, in her opening remarks as “a big success,” will lay the foundations for the two companies’ collaboration in the next five years. The collaboration is expected to contribute to the generation of 500 megawatts of “green” electricity in Vietnam.

As part of the business forum, government representatives and companies from Vietnam and Germany, including many active stakeholders in the energy sector, also had a chance to listen to a panel discussion about ”Business Opportunities in Vietnam.”

With both countries undergoing rapid changes in their energy sectors, in 2013, energy became one of the priority areas of Vietnamese-German development cooperation. While Vietnam, with a rapidly developing economy and fast-growing energy demand, is undergoing a boom in power generation and transmission, Germany has established itself as a leader in renewable energy technologies and services.

Many German companies are actively exporting renewable energy products and know-how in Vietnam and around the globe. The two countries are working together to ensure that Vietnam can pursue a green growth path in line with its multilateral agreements.