Decision paves way for solar power development

Opportunities to invest in Vietnam’s solar energy sector are abundant after Prime Minister Nguyen Xuan Phuc issued a decision to encourage the development of solar power projects.

Under Decision 11/2017/QD-TTg, which takes effective from June 1, 2017, all output produced by solar power projects will be purchased for VND2,086 (9.35 UScent)/kWh (excluding VAT) - a profitable rate for investors. 

The price will be adjusted in line with the VND/USD exchange rate, and only applied to power grid-connected projects with the cell efficiency above 16% or productivity module over 15%. 

Investors involved in solar power projects in Vietnam will be eligible for various incentives, especially support related to land, investment capital and import and corporate income tax. 

The decision aims to draw finances to the field, with many investors interested in the industry.

In March, the Central Highlands province of Dak Lak granted investment certificates and signed agreements with partners to develop a series of solar power projects with total investment of US$3.3 billion.

The US power group AES signed a memorandum of understanding with provincial authorities to construct a US$750-million solar power plant with combined capacity of 300-500 MW. 

Also, Xuan Thien Dak Lak Lt.d, Solar Park Global of the Republic of Korea (RoK) and Long Thanh Infrastructure Investment received approval to implement projects with respective worth of US$2.2 billion, US$45 million and US$308 million. 

Meanwhile, the RoK’s electricity developer Solkiss signed an agreement with the northern province of Yen Bai to build a 500MW-solar electricity project worth more than US$1 billion in Thac Ba Lake. 

Many more domestic and foreign investors have been pouring their money into solar energy projects in the central provinces of Binh Dinh, Khanh Hoa, Ninh Thuan, Thua Thien-Hue, Ha Tinh and Quang Ngai, and the Mekong Delta province of Soc Trang. 

However, the number and value of projects invested by foreign firms in the field remains limited. 

The Foreign Investment Agency under the Ministry of Planning and Investment said that only 16 foreign-invested green energy projects were operating in Vietnam as of the end of 2016, with total registered capital of US$778 million and only 18% of them invest in solar power. 

The decision is expected to pave the way for investors, especially foreign investors, to expand their operation in the power industry.

VNA

Other News

SBV raises short-term capital lending cap to 40%

SBV raises short-term capital lending cap to 40%

The new circular will help credit institutions have more room to provide capital to businesses and investment projects to support high economic growth in the next few years, while increasing flexibility in the SBV’s monetary policy management.

Business confidence in Vietnam rebounds strongly: UOB

Business confidence in Vietnam rebounds strongly: UOB

The study found that 85% of Vietnamese enterprises reported positive business sentiment, a sharp increase from 48% in 2025, when business confidence was weighed down by uncertainties surrounding US tariff policies and related trade developments.

Bac Ninh seeks high-quality foreign investment for sustainable growth

Bac Ninh seeks high-quality foreign investment for sustainable growth

According to Vice Chairman of the provincial People’s Committee Pham Van Thinh, the province aims to maintain stable and sustainable growth, improve the competitiveness of both the economy and local businesses, and make better use of free trade agreements (FTAs) to expand and diversify export markets.

Green building trend flourishes in Ho Chi Minh City's real estate landscape

Green building trend flourishes in Ho Chi Minh City's real estate landscape

The International Finance Corporation (IFC) highlighted the city's dominance in green-certified building floor space in Vietnam, reflecting the rapid expansion of the green building market with 780 completed green buildings encompassing over 18.69 million sq.m by 2025, predominantly certified by EDGE and LEED.

UK supports Vietnam in wind power and green finance development

UK supports Vietnam in wind power and green finance development

The United Kingdom officially announced two new climate cooperation initiatives to support Vietnam in its energy transition and green growth journey. These programs focus on offshore wind power development and the creation of a sustainable green financial ecosystem.

Ample room remains for Vietnam–India logistics cooperation

Ample room remains for Vietnam–India logistics cooperation

The GTTCI expert noted that alongside logistics and integrated warehousing, e-commerce is expected to be a particularly high-growth sector in the coming years. He described it as a multi-billion-dollar market with significant untapped opportunities for cooperation between Vietnam and India.

Exports gain momentum from high-tech growth drivers

Exports gain momentum from high-tech growth drivers

According to the Ministry of Industry and Trade, Vietnam’s exports reached 215.66 billion USD in the first five months of 2026, up 19.5% year-on-year. Twenty-six export items generated more than 1 billion USD in revenue each, including seven with turnover exceeding 10 billion USD.

Vietnam–China crossings see spike in ASEAN fresh produce

Vietnam–China crossings see spike in ASEAN fresh produce

Since the start of the summer harvest season, China's two major border gates with Vietnam, Youyi Guan in Pingxiang and Beilun 2 Bridge in Dongxing, have entered their peak period for handling imports of fresh agricultural and seafood products from member states of the Association of Southeast Asian Nations (ASEAN).

Cargo handling operations at Berths 3 and 4 of the Hai Phong International Gateway Port. (Photo: VNA)

AI reshapes logistics, raising bar for workforce skills

According to the Vietnam Logistics Business Association (VLA), the logistics sector will require around 2.2 million workers by 2030, including 1.6 million employees for logistics service providers and nearly 600,000 personnel supporting logistics operations in manufacturing and trading enterprises.

Robust dispute resolution framework key to Vietnam's IFC ambitions

Robust dispute resolution framework key to Vietnam's IFC ambitions

The development strategy for VIFC-HCMC envisions a comprehensive financial ecosystem encompassing green finance, carbon credits, financial technology (fintech), blockchain technology, digital assets, digital banking and other innovative business models. These highly internationalised sectors involve complex cross-border transactions and sophisticated legal structures.