However, the transition to renewable energy in Việt Nam was still in the first stage, thus Việt Nam needed to learn from the successful story of other countries around the world, including the Kingdom of Belgium. — VNA/VNS Photo

Đỗ Đức Quân, Vice Director General of the Electricity and Renewable Energy Authority under the Ministry of Industry and Trade (MOIT), was speaking at a seminar on Wednesday in Hà Nội, organised by the MOIT’s Renewable Energy Authority and the Embassy of Belgium in Việt Nam.

At the seminar, participants discussed issues related to the production and storage of existing renewable energy, infrastructure connection, internal and national power grid and the support of the EU for sustainable energy development in Việt Nam.

To encourage the use of renewable energy, the MOIT has submitted incentive mechanisms for solar, wind and biomass power to the Government.

They include the application of a feed-in tariffs (FIT) mechanism for 20 years, preferential corporate income tax and preferential land use tax.

However, the transition to renewable energy in Việt Nam was still in the first stage, thus Việt Nam needed to learn from the success of other countries around the world, including Belgium.

According to Paul Jansen, Ambassador of the Kingdom of Belgium to Việt Nam, the seminar is an opportunity for domestic and international experts to meet and exchange to find solutions to develop renewable energy in Việt Nam, opening up opportunities for investment co-operation in the renewable energy industry between businesses of the two countries.

The EU and Belgium are ready to share experiences in developing renewable energy to Việt Nam, helping connecting businesses of the sides, said Jansen.

Eric Franssen, Business Development Director of John Cockerill Group, said Việt Nam has many advantages in renewable energy, especially biomass power as the country has a lot of waste in industrial parks.

John Cockerill Group can assist Việt Nam in developing biomass energy. The group can also produce renewable energy by separating hydrogen from water through electrolysis, Franssen said.

"Việt Nam also has strength in wind power the two sides can collaborate in this area,” said Franssen.

A representative of DEEP C Green Energy Company said energy was one of the issues businesses seek when investing in Việt Nam.

To cut energy consumption in its industrial zone, DEEP C has installed solar panels.

DEEP C concluded the northern region has enough radiation to build solar power plants, the representative said. — VNS