Top legislator welcomes Japanese firm’s interest in clean energy development in Vietnam

Chairman of the National Assembly Vuong Dinh (right) hosts a reception for Erex Chairman and Representative Director Honna Hitoshi in Hanoi on March 11. (Photo: VNA)

Hanoi – Chairman of the National Assembly Vuong Dinh Hue has welcomed the interest of foreign investors, including Japan's Erex Co Ltd, in clean energy development in Vietnam.

At a reception for Erex Chairman and Representative Director Honna Hitoshi in Hanoi on March 11, the top legislator noted that Erex and Vietnam’s T&T Group signed a memorandum of understanding on cooperation in biomass energy in Vietnam.

He said the Vietnam-Japan extensive strategic partnership for peace and prosperity in Asia is thriving across spheres, adding that Japan continues to be Vietnam’s leading economic partner, biggest official development assistance (ODA) supplier, second biggest investor, third biggest tourism partner and fourth biggest trade partner.

Despite the COVID-19 pandemic, the bilateral trade and economic ties have still grown, creating an important foundation for the Vietnam-Japan cooperation to expand in all fields, the host said.

In reply, Hitoshi stressed that the Japanese government wants to help Vietnam fulfill its target of reducing carbon emissions, saying Vietnam has huge potential for biomass energy development which would contribute to ensuring stable electricity supply.

He told the Vietnamese leader that Erex and its Vietnamese partners studied biomass resources in 16 Vietnamese cities and provinces last month, and 19 projects with capacity of 1400MW would be rolled out in Vietnam by 2035.

Hue affirmed that Erex’s investment plan in biomass power matches Vietnam’s national strategy on green growth for 2021-2030, with a vision towards 2050, as well as the country’s commitment made at the 26th United Nations Climate Change Conference of the Parties (COP26).

Vietnam is also working to complete the Power Development Plan VIII under which increasing the ratio of renewable energy, including biomass power, is taken into account.

The Vietnamese legislature always supports and facilitates sustainable and long-term investment of businesses in the country, he pledged.