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Korean firms to expand investment in electricity in Vietnam

The Republic of Korea (RoK)’s Consulate General recently revealed the country’s businesses plan to invest more in Vietnam, especially in the manufacturing of electronic equipment and developing smart grid networks.
Korean firms to expand investment in electricity in Vietnam ảnh 1Koreans firms are particularly interested in creation of energy-saving products and generation of solar and wind energy. (Ilustrative image. Source: VNA)

Hanoi (VNA) – The Republic of Korea(RoK)’s Consulate General recently revealed the country’s businesses plan toinvest more in Vietnam, especially in the manufacturing of electronic equipmentand developing smart grid networks.

While analysing the potential to develop electronic equipment, smart grids andclean energy, RoK Consul General Lim Jae-Hoon said Vietnam’s annual electricityconsumption increases by about 10 percent.

Vietnam needs to increase electricity generationby 2.5 times in 2015-2030 to meet local demand, he said, suggesting theVietnamese Government be more proactive in attracting investment to ensuresufficient supply of electricity.

According to the official, the RoK has built asmart grid network which is operating effectively.

Korean businesses plan to invest in electricity in Vietnam, hesaid, adding that more than 150 Korean enterprises arrived in Vietnam’ssouthern economic hub of Ho Chi Minh City in July this year to exploreinvestment opportunities.

Deputy Director of HCM City Department ofIndustry and Trade Nguyen Phuong Dong said Korean enterprises are particularlyinterested in smart grid solutions in combination with 5G, creation of energy-savingproducts and generation of solar and wind energy.

They also held the Korea Smart Electric andEnergy Week (KOSEF) 2019 to create opportunities for businesses to connect andpromote investment cooperation in energy production in Vietnam, he added.

Also in July, more than 300 businesses from Germany, France,the US, Sweden, Poland, Japan, China, Taiwan and Hong Kong came to studyinvestment, promote trade and expand markets in Vietnam.

The national programme on using energy ineconomical and efficient manner in 2019-2030 has been creating an attractiveinvestment environment for the field.

According to the National Load Dispatch Centre (NLDC), as ofMay 20, the national electricity system reached a maximum capacity of 36,885MW,a year-on-year rise of 12.2 percent.

The country’s electricity output also hit arecord of 785.92 million kWh, up 15 percent against the same period last year.

National commercial electricity output isforecast to reach 211.95 billion kWh in 2019.

This means Vietnam is facing major challenges inensuring enough electricity.

It requires Vietnam to take measures to saveenergy and develop renewable energy resources, contributing to developing greeneconomy, reducing greenhouse gas emissions, and improvingnational energy security.-VNA


VNA
#Republic of Korea (RoK)’s Consulate General #businesses #electricity #electronic equipment #smart grid networks #RoK Consul General Lim Jae-Hoon #electricity consumption #Deputy Director of HCM City Department of Industry and Trade Nguyen Phuong Dong #Korea Smart Electric and Energy Week (KOSEF) 2019 #Vietnamplus #Vietnam News Agency Korea (RoK) Vietnam
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