As promulgated by the Politburo – the highest level of governance body of Vietnam, Resolution 55 has a mission to provide overall orientation for the development of renewable energy in Vietnam. Besides, Resolution 55 shall be the main foundation for ALL the laws and policies in terms of energy in Vietnam, including the renewable energy.
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Vietnam is rising in its popularity as a tourism destination in South East Asia. Therefore, the demand for leisure activities and accommodation, especially four to five-star hotels remains particularly high. In addition, the governmental support programs have been increasingly playing an important role by providing incentives to investors, creating rewarding opportunities in Vietnam’s hospitality industry in general and hotel and serviced apartment sector in particular.
While hydro-power has been exploited as fully as possible, coal-fired power is facing environmental pressures, renewable energy (“RE”) is a new trend of development in Vietnam. The Vietnamese Government aims to produce around 7% by 2020 and above 10% by 2030 of its electricity from renewable sources (excluding large-scale, medium-scale and pumped-storage hydro-power). To encourage RE development, the Government has issued several legal documents to attract investors
