Vietnam seeks Danish assistance in green energy development

Deputy Prime Minister Tran Hong Ha holds a working session with the C.I.P leadership in Copenhagen on November 25 during his working trip to Denmark. (Photo: VGP)

Meeting with the leadership of Copenhagen Infrastructure Partners - C.I.P, one of the world’s leading offshore wind power developers, Ha noted that once the amended Electricity Law is approved by the National Assembly, it will create a favourable legal framework for the development of offshore wind power projects. The Vietnamese government is also formulating a decree to address challenges related to marine area allocation for surveying and investment purposes.

He proposed that, with its extensive experience in implementing offshore wind projects globally, C.I.P should collaborate with the Vietnamese Ministry of Industry and Trade and partner enterprises in areas such as technology transfer and planning, as well as in building transmission infrastructure, and establishing harmonized electricity pricing aligned with Vietnam’s socio-economic conditions.

In addition, he said C.I.P should also explore and refine technologies to enable electricity exports or produce green hydrogen and green ammonia as part of its investments in offshore wind power projects.

Christina Sørensen, C.I.P Senior Partner, shared that in Vietnam, C.I.P is conducting research for an offshore wind project in the southern province of Binh Thuan. She expressed a desire for the authorities to promptly establish mechanisms and policies allowing foreign investors to survey, measure, and observe marine areas for offshore wind power development.

At a meeting with the leadership of the Confederation of Danish Industry (DI), Ha highly appreciated DI’s role in connecting and encouraging numerous Danish businesses to invest and operate in Vietnam over the past time, contributing to the implementation of the Green Strategic Partnership framework between the two countries.

He encouraged DI to closely collaborate with the Vietnam Chamber of Commerce and Industry (VCCI) to bring major Danish businesses to Vietnam on the occasion of the fourth summit of Partnering for Green Growth and the Global Goals 2030 (P4G Summit) in 2025, helping to set priorities and establish effective, long-term cooperation mechanisms among businesses within the P4G framework.

The Deputy PM expressed his hope that DI and its member businesses would provide technical support to various Vietnamese ministries in preparing and developing policy mechanisms for implementing the Just Energy Transition Partnership commitment, developing offshore wind power, and giving advice to the Vietnamese government with regard to investment attraction into wind power and renewable energy.

Vietnam always encourages foreign investors, including Danish companies, to enter Vietnam selectively, based on technology, innovation, and technology transfer, towards fulfilling achieve net-zero commitments by 2050, stressed Ha.

Welcoming the Deputy Prime Minister’s visit, Kinga Christensen, deputy director general of DI, said with many member businesses already investing, manufacturing, and operating in Vietnam, DI plans to open a regional office for Asia in Ho Chi Minh City at the beginning of 2025.

Additionally, DI is collaborating with the Vietnam Chamber of Commerce and Industry to identify key priorities in the transition to a green economy and green energy while promoting gender equality and inclusive development.

Deputy Prime Minister Tran Hong Ha meets with leaders of major Danish corporations in Copenhagen on November 25 during his working trip to Denmark. (Photo: VGP)

The same day, Deputy PM Ha attended a roundtable discussion with the participation of leaders from major corporations, including Vestas (wind turbine installation), Blue Water Shipping A/S (high-quality logistics services), Lego (educational tools and toys), Pandora (jewelry manufacturing), Orana (food and beverage processing), A.P. Moller Holding (maritime transport and logistics), and Carlsberg (beverages).

Ha emphasized that Vietnam and Denmark have established a close, effective, and substantive partnership in key global areas such as science and technology, innovation, green transition, digital transformation, green economy, circular economy, and low-carbon economy.

The presence of Danish businesses in Vietnam reflects the strong bilateral relationship between the two countries. Danish companies have so far invested in 169 projects in Vietnam, with a total registered capital of nearly US$2 billion, ranking 22nd among 148 countries and territories.

According to the Deputy PM, Danish companies enjoy many advantages in pioneering new fields that Vietnam has significant demand and potential in, such as green transition, digital transformation, and renewable energy development.

He affirmed that Vietnam is an attractive destination for foreign investors, including Danish businesses, with a population of about 100 million, a rapidly growing middle class, and a deeply integrated economy. The country has signed 17 free trade agreements with major economies and is committed to achieving net-zero greenhouse gas emissions by 2050. It also has tremendous potential for renewable energy and is a partner in the Just Energy Transition Partnership.

The Deputy Prime Minister expressed his desire for Danish businesses to invest more actively in renewable energy projects in Vietnam, particularly offshore wind power, in conjunction with research, technology transfer, management and operational practices.

He expressed his belief that Danish businesses would find increasing opportunities to invest, produce, and operate in Vietnam, fostering collaboration, mutual trust, and the right direction to achieve new successes.

Through Vietnam, Danish businesses can connect and expand to other markets in Southeast Asia, Asia, and major economies worldwide, stated the Deputy PM.