Hanoi: The Vietnamese government is actively inviting Japanese businesses to significantly increase their investments, particularly in high-priority sectors like semiconductors and renewable energy, with a special focus on biomass power. This strong encouragement was voiced by Deputy Prime Minister Nguyen Chi Dung during a meeting with Honna Hitoshi, Representative Director and President of Japan’s Erex Corporation, on July 4, reports Vietnamplus.
Deputy Prime Minister Dung highlighted Vietnam’s commitment to achieving net-zero emissions by 2050, underscoring the critical role of renewable energy, including biomass power, in reaching this ambitious goal. He pointed to the nation’s Power Development Plan No. 8, which sets a target of 2,270 megawatts of installed capacity from biomass and waste-to-energy power by 2030.
The Deputy Prime Minister warmly welcomed Erex’s initiatives in introducing biomass power technology to Vietnam, noting the corporation’s ongoing projects in the provinces of Hau Giang, Tuyen Quang, and Yen Bai. He emphasized that these projects are expected to contribute positively to Vietnam’s energy sector and further strengthen the collaborative ties between Vietnam and Japan.
Acknowledging Erex’s robust financial standing and reputation, Deputy Prime Minister Dung urged the company to broaden its investments and facilitate technology transfer, especially in projects that involve co-firing biomass with coal. He also encouraged Erex to support Vietnam’s broader energy transition efforts. Furthermore, he requested Erex to work closely with Vietnamese authorities to ensure all investment activities align with national regulations and sector-specific plans.
Beyond energy, Deputy Prime Minister Dung also called on Japanese businesses to forge partnerships with Vietnamese firms. The aim is to diversify supply chains and enable Vietnam to play a more integrated role in global supply networks.
In response, Honna Hitoshi of Erex Corporation presented several proposals concerning the pricing mechanisms for biomass electricity and adjustments related to exchange rates in power purchase agreements. He also announced Erex’s commitment to providing scholarships, aiming to help Vietnam develop a skilled workforce in the crucial renewable energy and semiconductor sectors.
Erex, recognized as a leading biomass power company in Japan, is actively pursuing opportunities in Vietnam. Their plans include developing raw material zones, investing in new biomass power plants, and converting existing coal-fired power plants to operate on biomass. Their current projects in Vietnam are located in Hau Giang, Yen Bai, and Tuyen Quang provinces.
