Vietnam’s solar opportunities shine bright

Published onJanuary 9, 2020

The outlook for growth in Vietnam’s renewables sector is positive, writes Daine Loh, research analyst at Fitch Solutions. And the solar segment is one of the key drivers of this impressive growth. Vietnam still has substantial untapped solar power potential. Coupled with an increasingly supportive regulatory environment, and an expected surge in electricity consumption over the next decade, the country’s renewables sector is poised for a new dawn. And this will bring substantial opportunities for investors…We believe that the government will prioritize the development of the power sector to support the country’s strong and stable economic growth, which Fitch Solutions Macro Research’s Country Risk team forecasts to come in at 6.9% in 2019 and 6.8% in 2020. Vietnam’s large manufacturing sector, which accounts for nearly 17% of GDP, also makes improving energy security crucial to sustaining Vietnam’s growth momentum over the longer term.