Vietnam Solar Power Industry

Many investors are interested in solar power in Ninh Thuan, Binh Thuan, Bac Lieu and the market is very dynamic. According to General Electric Plan VII, the total installed capacity of solar power of Vietnam by 2030 will achieve 12GWp, so there will be nearly 12 billion USD pouring into this sector.

The lack of electricity price policies for renewable energy and solar energy are the main causes for the attraction of investment in this sector becomes less interesting.

However, presently there are many investors interested in solar power projects in Vietnam. The solar power investment market is very exciting and a lot of investors are very willing to pour capital into the sector.

Many projects of current investors are not only located in Ninh Thuan and Binh Thuan – 2 provinces that are attracting the most solar power projects, but also extending to Quang Ngai, Thua Thien Hue, Ha Tinh, Hau Giang, Bac Lieu…

According to the Clean Energy Association of Vietnam, currently the country has about 30 investors at home and abroad that are setting up new solar power projects with capacity of 20 MW to over 300 MW in some localities. Notably there are many foreign investors coming from South Korea, France, India… have registered to invest in some central provinces.

Not only foreign investors, domestic investors are also starting to research and invest in clean energy market. For example, Central Power Corporation has a solar power plant with capacity of 150 MW in Khanh Hoa; Vietnam Electricity Corporation is planning to research two projects in Dong Nai and Binh Thuan, Ninh Thuan.

Vietnam is a country with the potential of solar energy. The average solar energy density is 4.3 kWh/m2 and the average number of sunny days is around 2,000 hours/year.

In particular, from Da Nang to the southern, the potential of solar energy is very good, the radiant energy density is in the range of 4.5 to 5 kWh/m2; the average number of sunny days is 2,200 – 2,500 hours/year. Therefore, the application of solar power in these areas will be highly effective.

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The changes of laws will be monitored by ANT Lawyers Energy and Project practice. For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 28 730 86 529

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Set-up Limited Liability Company in Vietnam

Limited Liability Company is a form of enterprise which is established by contributing of members. A member shall be liable for the debts and other property obligations of the enterprise within the amount of capital that he/she has undertaken to contribute to the company.

Limited liability companies are regulated by two types:

One member Limited Liability Company is an enterprise owned by one organization or individual;

Limited Liability Company with two or more members is an enterprise owned by organizations or individuals, in which the number of members shall not less than two members and not exceed fifty.

Organizational and management structure of Limited Liability Company normally comprise of a Member’s Council, General Director or Director.

A limited-liability company established by foreign investors may take the form of either:

100% foreign-owned enterprise (where all members are foreign investors); or;

Foreign-invested joint-venture enterprise between foreign investors and at least one domestic investor.

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Many Large Businesses in Norway Want to Invest in Hanoi

7 leading corporations and enterprises from Norway include ITS Noway, Pixii AS, Ruter, Avfall Norge, Cambi, Host, Tomra want to set up business in Hanoi, at the same time cooperate, invest and transfer the most advanced technology in Hanoi city.

Chairman of the Hanoi City People’s Committee has just had a meeting with Innovation Norway and 7 leading Norwegian corporations and enterprises operating in the fields of: Developing smart traffic system, energy and energy storage, management and development of public transport systems, providing solutions for waste and waste sludge management, recovery and recycling of plastic and waste materials.

At the meeting, leaders of corporations exchanged views with the Chairman of Hanoi People’s Committee on Norway’s strengths, experiences and the most advanced technology such as waste and sludge treatment technology and recycling into fertilizer preparations for agriculture; technology to use clean energy in waste treatment; technology to collect, process and recycle hazardous plastic wastes; payment technology and smart transportation applications that encouraging people to use the City’s public transport system; experiences and management mechanisms that encourage corporate cooperation in waste and wastewater treatment and development of public transport.

At the same time, the leading corporations in Norway also expressed their desire to cooperate, invest and transfer advanced technology into Hanoi.

On the side of Hanoi, the Chairman of the city thanked the leaders of the corporations for exchanging and introducing valuable experiences in management as well as advanced technologies in areas that Hanoi is very in need of, serving for the construction and development of Hanoi towards smart, sustainable and effective urban.

At the same time, the city leaders also expressed that Hanoi is willing to create the most favorable conditions for Norwegian corporations and businesses to research, survey and seek investment and business cooperation opportunities in Hanoi.

Notably, representatives of the Innovation Norway, corporations and companies committed to organize Norwegian business delegations to Hanoi as soon as possible to implement the discussed plans.

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British Investors Proposed to Invest in Wholesale Market in Gia Lai

Chairman of Gia Lai Provincial People’s Committee has just had a meeting and worked with Chairman of the Board of Directors of TKV Holdings International (United Kingdom), coming to survey and find out investment opportunities to set up business in Vietnam and in particular set up wholesale market project in Gia Lai province.

At the meeting, representatives of TKV Holding International Cooperation Joint Stock Company expressed their interest in building wholesale market; electronic portal of wholesale market without managers; strategic product identification; advising on the province’s strategic product identification in the global value chain (building national product images) and Gia Lai province’s product consumption plans.

The representative of the company also assessed that Gia Lai is a potential province and if implemented, the wholesale market model in Gia Lai will also have its own characteristics; At the same time, asking the province to provide additional issues related to regional planning and sector planning; local determination and orientation of Gia Lai province for the participation of enterprises in implementing this wholesale market model.

At the meeting, Chairman of Gia Lai Provincial People’s Committee Vo Ngoc Thanh also raised a number of issues for the unit to learn investment such as the project scale of the wholesale market, the need to connect between the wholesale market and the people. production if the model is deployed in Gia Lai.

Chairman Vo Ngoc Thanh expects TKV Holdings International Cooperation Joint Stock Company will soon agree with the province on how to do as well as speed up the implementation plans of this project. At the same time affirmed Gia Lai’s determination and will create favorable conditions for the unit through the Department of Planning and Investment to promote investment in implementing the wholesale market project in Gia Lai province in the early period. Best.

At the meeting, Chairman of Gia Lai Provincial People’s Committee also raised a number of issues for investors such as the project scale of the wholesale market, the need to connect between wholesale market and producers if the model is implemented in Gia Lai.

Chairman of the province expects TKV Holdings International Cooperation Joint Stock Company will soon agree with the province on how to do as well as speed up the implementation plans of this project. At the same time affirmed Gia Lai’s determination and will create favorable conditions for the unit through the Department of Planning and Investment to promote investment in implementing the wholesale market project in Gia Lai province in the shortest time.

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Please click here to learn more about ANT Lawyers Foreign Investment Practice or contact our Law firms in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529

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