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Chandan Singh, country managing director Hitachi Energy Vietnam
Vietnam has been experiencing robust economic growth. To support its ambitious goals, electricity demand will need to increase by 1.5 times of GDP growth or even more, especially if we aim for carbon neutrality. This trend in electricity demand will undoubtedly lead to a significant rise in the demand for transformers. As electricity demand grows, the need for new transformers will proportionally increase.
Over the past six months, Vietnam has achieved remarkable progress, particularly from a legislative standpoint. One of the most notable advancements is the revision of the Electricity Law. It includes provisions for renewable energy development, competitive electricity markets, and the integration of new energy sources.
These changes are designed to enhance the law’s enforceability and effectiveness, ensuring that our electricity development policies are consistent with other relevant policies and the overall legal system.
In addition to legislative reforms, the government is actively working to streamline its operations. By reducing the number of ministries and consolidating various agencies, we aim to create a more efficient and responsive government structure. This restructuring is expected to expedite decision-making processes and reduce bureaucratic hurdles, ultimately benefiting both businesses and citizens.
From 2018 to 2021, the government implemented feed-in tariffs for solar and wind power projects, which boosted the sector. However, the government is now transitioning to a new framework. What I expect is that these new policies will be stable and forward-looking, minimising the risk of reversal even in the event of a change in government. Such stability is crucial for boosting business confidence and attracting sustained investment in Vietnam’s renewable energy sector.
We have been operating in Vietnam since 1993. This year, we will inaugurate our new wet paint workshop and add more production lines to our high voltage factory. We believe in Vietnam’s growth story and its people. We will continue to carry out small-scale capital expenditure to strengthen our footprint while contributing to Vietnam’s energy transition.
Ee-Hui Tan, managing director Vietnam and Cambodia, FedEx
Vietnam’s strategic position is recognised as a growing hub for trade and commerce in Southeast Asia. We foresee a future where the logistics industry will increasingly leverage technology, sustainability, and innovation to enhance connectivity.
Vietnam’s robust economic growth has been a significant driver for the logistics sector. As the economy expands, there is an increasing demand for efficient logistics services to support trade, e-commerce, and supply chain management. This growth has encouraged both domestic and foreign investments, leading to enhanced logistics infrastructure and capabilities.
Recent reforms have played a crucial role in shaping a more conducive environment for logistics. One notable example is Vietnam’s participation in free trade deals that reduce barriers, resulting in rising trade volumes and activities.
There are three key factors propelling the growth of Vietnam’s logistics sector, despite challenges in the global landscape. Firstly is strategic geographic location. Vietnam’s position as a gateway to Southeast Asia makes it an attractive hub for trade and logistics, enabling easy access to key markets.
Our recent flight launch from Ho Chi Minh City to Asia, Middle East, Africa, and Europe with faster transit times can support our customers across all industries achieve cross-border success and facilitate the expansion of local businesses abroad, while also contributing to the advancement of Vietnam’s logistics landscape.
The second aspect is technological advancement. The adoption of digital tools and technologies, such as AI, blockchain, automation, data analytics, and e-commerce platforms, is enhancing operational efficiency and responsiveness within the logistics sector.
We’re transforming from a supply chain company to a supply chain technology company that makes supply chains smarter for everyone. We’re doing this by leveraging data and technology to run and transform our business, digitise our customers’ supply chains, and move up the e-commerce value chain.
The final factor is growing domestic demand. Rising consumer demand, particularly in e-commerce, drives the need for efficient solutions to handle more volume.
Dong Mai Lam, cluster president, Vietnam and Cambodia, Schneider Electric
There are five global trends that are having a profound impact on every industry. In global rebalancing, there is uncertainty of the global political situation, complicated trade conflicts leading to a shift from globalisation to protectionism, an independent economy promoting localisation, and building dual supply chains, all reshaping the way businesses operate.
In terms of the prosperity shift, a population explosion in India, Africa, and the Middle East, together with urbanisation, will create huge energy demand. By 2050, it is predicted that more than 1.3 billion people will live in these areas. This will lead to increased demand for housing, offices, and other utilities such as transportation, services, and energy.
With climate change trends, the shift in prosperity brings many development opportunities but also many risks.
Among them, the challenge of carbon emissions requires all constructions, factories, and energy-consuming activities to aim for green and sustainable criteria, capable of responding to climate change.
There is now also an explosive trend of digitalisation and AI. To be competitive in the context of shifting supply chains and addressing climate change issues, we need to make fundamental changes. Digitalisation and the adoption of existing AI technologies will greatly help this transformation. We need to find innovative solutions to optimise processes, improve efficiency and promote sustainability. These solutions are supported by the megatrends of digitalisation and AI.
However, this transition needs to be done sustainably, as the growth of more data centres will require more efficient cooling systems and the most efficient use of energy.
In energy transition trends, with 80 per cent of carbon emissions coming from energy use and the global population expected to increase by two billion by 2050, the need for clean, sustainable energy sources is urgent. Current technologies can help eliminate 70 per cent of carbon emissions in the energy chain.
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