Although the coronavirus has affected severely economies of the major countries, Vietnam’s economy grew by 1.81 per cent in the first half of 2020. Vietnam’s economy is expected to bounce back up to 6.8 per cent in 2021.
The energy demand will rise by over 10 per cent per year by the end of 2020 and by 8 per cent per year in 2021-2030 in Vietnam. Vietnam has adopted the Renewable Energy Development Strategy till 2030 with an outlook to 2050. The strategy broadly aims to promote the use of renewable energy sources and environmentally friendly natural resources.
The booming industry gives good opportunities for investors who have the right skills and capital to invest in Vietnam. Energy investors will spend around $150 billion to meet rising power demand in Vietnam in the next coming decade.
The new development could transform Vietnam into a solar-powered destination for entrepreneurs. Despite Vietnam was impacted by the coronavirus pandemic, the solar energy industry is growing in the country. The solar energy sector is a green and profitable sector in which to invest.