Vietnam wind power attracts Denmark

26/10/2022

More than half of the 35 businesses accompanying the Crown Prince of Denmark to Vietnam in early November are in the wind power sector.

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The Vietnam Trade Office in Sweden and Denmark said that during the upcoming visit of Crown Prince Frederik, there are many leading wind power enterprises in Denmark.

Names can be mentioned such as Orsted Vietnam LLC - A subsidiary of the world's largest offshore wind group; Copenhagen Offshore Partner - a leading enterprise with experience in implementing offshore wind power projects; Vestas Wind Systems - a leader in sustainable energy solutions; Force Technology - provides services related to the design, operation, and maintenance of turbines, platforms…

Besides businesses, the delegation also had the participation of 3 investment funds in this country, including IFU - an independent fund owned by the Government, specializing in providing risk capital for businesses located in developing countries and Emerging Markets; Copenhagen Infrastructure Partners - financing renewable energy projects globally, with a focus on the green transition for offshore wind power in emerging Vietnam; and EKF, which specializes in financing the export activities of Danish companies.

According to the Vietnam Trade Office, Denmark is emerging as one of the five largest investors in Vietnam, with a total new investment of 1.32 billion USD. One of the reasons why Vietnam is such an attractive investment destination is the strong commitment of the Government to bring net emissions to zero by 2050.

Ms. Lina Hansen - Denmark's Deputy Foreign Minister in charge of global trade and sustainability, pointed out that energy is the main determining factor for them to invest in Vietnam.

Currently, Vietnam has the fastest growth rate of renewable energy production in Southeast Asia and is among the top 10 solar-producing countries in the world. Currently, renewable energy accounts for more than 11% of the total electricity output of the whole system.

According to statistics from the General Department of Vietnam Customs, in the first nine months of 2022, the export turnover between the two countries reached more than 554 million USD. In, Vietnam exported about 384.7 million USD to Denmark, up 51.8% over the same period last year.