Vietnam Accelerates Growth with Clean Energy and Digitalization

Shandong Heavy Industry showcased its green and intelligent equipment at an exhibition in Hanoi, highlighting Vietnam's growing focus on sustainable development and technological advancement. Poland is significantly investing in green technologies, including natural resource management, environmental protection, and industrial decarbonization, according to Wojciech Kusak, Counsellor for Political and Economic Affairs at the Embassy of Poland in Vietnam. The exhibition featured various solutions aimed at improving productivity and sustainability, such as HDPE cages, automated feeding systems, Internet of Things (IoT)-based environmental monitoring, and artificial intelligence (AI) applications. To reduce reliance on imported materials, Lefaso has called for accelerated development of the domestic supporting industry and proposed establishing strategic raw material reserves and trading platforms to enhance supply security. In the aviation sector, Vietnam has experienced the fastest growth among the region's top 10 aviation markets over the past decade, with a remarkable 121% increase. Fleet expansion is underway, with Vietnamese airlines acquiring new aircraft from lessors like SMBC Aviation Capital and Avolon Aerospace Leasing Limited. In the new energy economy, value is expected to be derived not only from underground resources but also from technology, data, infrastructure, operational capabilities, and supply chain connectivity. Messer sees significant potential in Vietnam's large-scale industrial plants, with investments in rooftop solar systems for low-emission hydrogen production being a step towards developing Vietnam's hydrogen economy. The State Bank of Vietnam's (SBV) Region 2 Branch reported that remittances transferred through credit institutions and economic organizations totaled $2.03 billion in the second quarter, a 1.4% increase from the first quarter but a 27.9% decrease from the same period last year. However, HSBC Vietnam noted that Vietnam's economy has built a favorable position in the first six months, with GDP expanding 8.18%, the highest first-half growth rate in recent years. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has evolved beyond tariff reductions into a broad framework covering goods, services, investment, and digital trade. It has significantly expanded Vietnam's market access and encouraged investment by promoting regional production networks and clearer rules of origin, contributing to strong export growth in sectors like textiles, footwear, and agricultural products. QTSC and the Singapore Semiconductor Industry Association (SSIA) signed a memorandum of understanding (MoU) to connect Vietnam's semiconductor ecosystem with Singapore's semiconductor business network and the wider region. This move signifies Vietnam's ambition to enhance its position in the global value chain. Efforts are also being made to prevent illegal fishing activities and protect marine resources, underscoring Vietnam's commitment to sustainable development. Source: VietnamPlus English