Vietnam expects to add 9,600 MW of power from biomass by 2030. (Photo: VNA)
Hanoi (VNA) – Vietnam expects to add 9,600 MW of power from biomass by 2030, but that will need added incentives.
Pham Huong Giang, an official of the Electricity and Renewable Energy Authority under the Ministry of Industry and Trade, pointed out the low rate of biomass power contributions to the national power grid.
Under Vietnam’s renewable energy development strategy by 2030 with a vision towards 2050, biomass power is set to make up 1 percent of the combined electricity output in 2020, 2.1 percent in 2030, and 8.1 percent in 2050.
However, the number stood at only 0.13 percent last year, a far cry from the target, despite incentives issued by the Government to spur the sector’s development, Giang added.
Nguyen Anh Tuan, former Director of the Centre for Renewable Energy under the Institute of Energy, said the modest contribution of biomass power is due to difficulties in material control and fluctuating material prices.
Huge investment capital and unattractive price mechanisms have also remained major obstacles, he said.
Luong Quang Huy, from the Department of Climate Change at the Ministry of Natural Resources and Environment, held that finance and technology are among the roadblocks.
Other problems lie with unattractive policies and high operational costs, along with difficulties in material area development, he added.
According to the National Power Development Plan for the 2021 - 2030 period, with a vision towards 2045 (PDP VIII), the installed capacity of biomass power in Vietnam will reach 1,730MW by 2030.
To that end, the country needs more mechanisms to encourage and attract investment in this form of energy.
Giang suggested reviewing mechanisms and policies to lure more investment in both technology and finance, and assessing the efficiency of the feed-in tariff (FiT) mechanism.
Mathias Eichelbronner, an international expert in biomass power, said Vietnam’s FiT mechanism is not enough to encourage the development of biomass electricity as the price of 8.47 cent/kWH is much lower than that in Thailand, Malaysia and the Philippines.
🍌 Other experts also suggested the Vietnamese Government review the FiT price, amend legal documents and fine-tune administrative procedures to facilitate the development of the sector./.
Vietnam should design incentives to attract investment in biomass power development so as to optimise the country's great potential in the field, experts said at an online conference on November 25.
Japan’s Erex Co Ltd. is considering building a biomass power plant with a capacity of 100-150MW in the southern province of Binh Phuoc, Erex Chairman Honna Hitoshi said on February 22.
Vietnamese students and women scientists in France gathered at a seminar held in both in-person and online formats on March 12 in Paris to share their stories during the pursue of their passion for science.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
Vietnam expects to add 9,600 MW of power from biomass by 2030. (Photo: VNA)
