More than 300 European businesses attended the forum and expressed their desire to invest in the green energy sector in Vietnam.
Attending and delivering his marks at the Vietnam-EU cooperation forum, Deputy Minister of Industry and Trade Nguyen Hoang Long indicated that the Vietnam-EU forum is one of the important annual events with the purpose of promoting, introducing and enhancing economic trade and investment cooperation between Vietnam and the EU, one of Vietnam's leading important economic partners.
According to him, the European Union is currently the third-largest export market in Vietnam. Vietnam and the EU have always maintained a high growth rate of 12 percent to 15 percent in import and export turnover.
Notably, this growth rate has increased even more immediately after the Vietnam-European Trade Agreement was signed.
Vietnam’s major trading partner countries for exports are the Netherlands, Germany and Spain, contributing to creating a gateway for Vietnamese goods to enter smaller countries in Eastern Europe, Northern Europe and Southern Europe.
Currently, the distinct groups of products featuring the highest export potential on the EU market are phones, computer components, electronic products and so on.
The groups of agricultural products have achieved a significant export growth rate of 32.6 percent.
The EU representative stated that the total two-way import and export turnover between Vietnam and the EU currently reaches an average of US$29 billion per year.
Of which, Vietnam's export turnover to the European Union is US$16 billion and import turnover from the European Union is US$13 billion.
Recognizing the growth potential in the coming time, the EU representative affirmed that the Vietnamese government is building new development strategies to meet the new standard barriers of the European market. However, Vietnam needs to accelerate investment in developing green energy supply infrastructure.
Currently, more than 1,400 businesses are investing in Vietnam and they are likely to expand their investment in this field.
On the other hand, the Ministry of Industry and Trade stated that Vietnam has great potential to develop solar energy, wind energy and hydropower.
Therefore, the government has made commitments and strategies to lure investment in the fields, including a direct power purchase agreement mechanism from the investment unit.
Vietnam is striving to develop green growth towards the country's sustainable development, aiming to achieve net zero emissions by 2050 target. However, in order to achieve this goal, Vietnam needs US$368 billion in investment in the green energy sector which is also an opportunity for investors to participate in this field.
