Private equity investors are increasingly evincing interest in Vietnam’s renewable energy sector as the country, which has long relied on coal and hydropower for electricity production, seeks private investments in alternative resources. Renewable energy emerged as one of the most preferred sectors for investments in the country in 2019 as it took the third slot after fintech and education, according to a Grant Thorton survey. The upward move is significant given that in 2018, renewable energy took the 10th place in terms of the most attractive investment sector in the country, as per the survey. This year, the sector has taken a slot ahead of health care, e-commerce and logistics. “100 percent foreign ownership is allowed in energy production. Wind and solar energy projects, in particular, are absolutely booming – more active than anything I have seen in my 28 years’ working here,” said Fred Burke, managing partner of Baker & McKenzie Vietnam.