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Top 5 most potential industries in Vietnam in 2022

Top 5 most potential industries in Vietnam in 2022

Thursday 21, 07 2022
In addition to giving an in-depth insight into Vietnam’s political, economic, social and technological environments...

Vietnam Country Report 2022, which was launched on July 14, 2022 by VietnamCredit, also provides information and assessment of the 5 most potential industries for investment in Vietnam in 2022.

Accordingly, experts of VietnamCredit believed that Renewable Energy Industry, Healthcare Industry, Steel Industry, Electronics Industry and Beverage Industry are the 5 industries that are worth attention in Vietnam this year.

VIETNAM COUNTRY REPORT 2022

Overview of Vietnam’s Renewable Energy Industry

In the context of the global energy crisis, the shift from fossil energy to renewable energy (RE) or green energy is an inevitable world trend and Vietnam is no exception. With ideal geographical and climate characteristics, and the Government's rightful strategies to encourage investment in developing clean and renewable energy, in recent years, investment in wind and solar power projects has boomed in Vietnam, with impressive figures.

global energy

By the end of 2021, the total installed capacity of RE sources reached 20,670 MW, accounting for 27% of the total installed capacity of the whole system (76,620 MW). Power output from RE-Source reached 31,508 billion kWh, accounting for 12.27% of the total electricity production.

Specifically in terms of wind power, Vietnam has 70 wind power projects (with a capacity of 3,987 MW) already in commercial operation, and the electricity output in 2021 reached 3.34 billion kWh, accounting for 1.3% of the total power system-wide output. With solar power, the electricity output from solar power sources in 2021 alone accounted for about 10.8% of the total electricity output of the whole system. The total installed capacity of biomass and garbage electricity was 321 MW by October 2021.

According to the Ministry of Industry and Trade, Vietnam is currently among 10 countries with the highest investment in renewable energy in the world, reaching USD 7.4 billion and surpassing two of the major world economies of Germany (USD 7.3 billion) and France (USD 7.1 billion).

Ministry of Industry and Trade

With the available potential, the future development of renewable energy sources in Vietnam increasingly occupies an important position in sustainable economic development. This is down to the beneficial results of exploitation of natural sources  such as solar or wind energy, as well as contributing to a reduction in the impact of greenhouse effects and climate change.

Top 5 largest renewable energy companies

Vietnam Country Report 2022 also identifies the top 10 largest enterprises in the renewable energy industry based on financial and non-financial information collected by VietnamCredit.

Gelex Group Joint Stock Company

Coming out top in the list is Gelex Group Joint Stock Company, which is followed by Trung Nam Construction Investment Corp, Pc1 Group Joint Stock Company, Refrigeration Electrical Engineering Corporation, Ha Do Group Joint Stock Company, etc.

To get detailed information on these businesses, please access to our report.

VIETNAM COUNTRY REPORT 2022

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