
The Vietnamese Government encourages and supports Japanese enterprises to expand their investment in Vietnam, particularly in sectors matching Japan’s advantages and Vietnam’s priority such as semiconductor and renewable energy, especially biomass power.
The remark was made by Deputy Prime Minister Nguyen Chi Dung during a meeting with Honna Hitoshi, Representative Director and President of Japan’s Erex Corporation, on July 4.
He stated that as Vietnam aims to achieve net-zero emissions by 2050, renewable energy, including biomass power, plays a crucial role. The country’s Power Development Plan No. 8 sets a target of 2,270 MW of installed capacity from biomass and waste-to-energy power by 2030.
Deputy PM Dung welcomed Erex’s efforts to bring biomass power technology to Vietnam, highlighting its ongoing projects in Hau Giang, Tuyen Quang, and Yen Bai. He emphasised that these projects will make a positive contribution to the country’s energy sector and further deepen the cooperation between Vietnam and Japan.
Acknowledging Erex’s strong financial capacity and credibility, Deputy PM Dung encouraged the corporation to expand its investments and technology transfer in the projects co-firing biomass with coal, and to support Vietnam in its energy transition. He also asked Erex to work closely with Vietnamese authorities to ensure its investment activities comply with regulations and align with sectoral plans.
He also called on Japanese businesses to partner with Vietnamese firms to diversify supply chains, helping the Southeast Asian nation engage more deeply in their global supply chains.
In response, Honna presented several proposals regarding the biomass electricity pricing mechanism and exchange rate adjustments in power purchase agreements.
He also announced Erex’s scholarships to help Vietnam develop human resources in the renewable energy and semiconductor sectors.
Erex, one of Japan’s leading biomass power companies, is seeking to develop raw material zones, invest in biomass power plants, and convert coal-fired power plants to biomass ones in Vietnam. Its current projects in the country include the Hau Giang, Yen Bai, and Tuyen Quang biomass power plant.
(VNA)