Taiwanese investors interested in Vietnam's solar energy projects

Taiwanese investors interested in Vietnam's solar energy projects

The Vietnamese Government's decision on providing incentives for solar
energy projects in Vietnam has attracted foreign investors to the field,
including those from Taiwan.

Under Decision No. 11/2017/QD-TTg dated April 11, 2017, solar power
investors have to pay corporate income tax at just 10 percent for their
first 15 years of operation. They can also receive tax exemptions in the
next four years and pay half tax for the next nine years.

They are also exempt from import tariffs to create fixed assets for the
projects. The State will purchase all electricity produced by the projects
for 2,086 VND (9.35 US cents) per kWh.
Nguyen Thu Trang, a senior sales representative of Taiwanese Big Sun Group,
one of Taiwan's leading businesses specialising in solar energy solutions,
said Big Sun wants to introduce state-of-the-art solar panel trackers in
Vietnam to improve the efficiency of solar power plants in the country.

Big Sun also hopes to work with local steel firms to open tracker factories
to reduce production costs, she said, adding that although tracker import
tax is now 0 percent, transportation costs remain high because of their
weight.

Taiwan's Neo Solar Power Corp (NSP) is also working with Vina Solar
Technology Co., Ltd of Vietnam on a big solar energy project.

Tim Sun, a representative of NSP, said the cooperation is NSP's first step
to increasing its presence in Vietnam and that the company will consider
expanding its affiliation with Vina Solar while seeking other Vietnamese
partners.

LTI ReEnergy, another Taiwanese group specialising in inverter technology,
is also considering entering Vietnam.

LTI ReEnergy General Director Tom Wang said he will visit Vietnam early next
year to explore the market, noting that he wants to introduce inverter
technology, an advanced technology helping reduce energy losses, in the
country.

Alen Wu, a representative of Motech Industries, Taiwan's largest solar cell
manufacturer, said the company is also cooperating with Vina Solar and will
seek more Vietnamese partners to benefit from the country's friendly
business policies.

According to the Foreign Investment Department under the Ministry of
Industry and Trade, Vietnam has 16 foreign direct investment projects in
green energy with total registered capital of 778 million USD, of which
solar energy projects are valued at 137.38 million USD.

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Link to Original Article:
http://english.vietnamnet.vn/fms/business/179100/taiwanese-investors-interes
ted-in-vietnam-s-solar-energy-projects.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com