Many opportunities for energy collaboration between Ho Chi Minh City and Chungbuk – Korea

Ho Chi Minh City (HCMC) and Chungbuk (or Chungcheongbuk – Korea) can collaborate to develop economic sectors that apply digital technology and smart technology for sustainable development, focusing on an opportunity in the energy sector… by harnessing the strengths of each region.

The Chungbuk Provincial Council hosted the HCMC – Chungbuk Business Forum on the afternoon of December 18 in HCMC, which leaders from both regions and business representatives from Vietnam and Korea attended. Delegates to the forum looked into collaboration as an opportunity in strategic industries for each region, such as the secondary battery industry, biotechnology, green energy, and information technology,… Discussions also included introductions to some significant companies from each region, as well as collaborative measures.

Mr. Hoan, Vo Van – Vice Chairman of the HCMC People’s Committee speaked at the Forum

During the forum, a representative from a leading renewable energy company, Mr. An, Pham Dang – Deputy General Director of Vu Phong Energy Group, Director of VP Carbon, presented an overview of the potential for green energy development in Vietnam, particularly in HCMC, in the section discussing strategic industries. This includes solar, wind, and waste-to-energy (energy recovery from solid waste),… In particular, considering rooftop solar energy in the manufacturing sector, HCMC has the potential to develop up to 1,589 MWp of solar energy. In addition to solar, Can Gio has tremendous potential for offshore wind development.

Mr. An, Pham Dang – Deputy General Director of Vu Phong Energy Group, Director of VP Carbon, presented an overview of the potential for green energy development

Mr. An shared detailed collaborative potential for businesses in HCMC – Chungbuk, and more broadly, Vietnam – Korea, in areas such as rooftop solar, energy management, clean energy combined with green transportation, and carbon neutrality solutions (such as carbon capture and storage – CCS).

Opening up collaboration opportunities, according to Mr. An, not only benefits the businesses engaged but also strengthens the friendly cooperation between HCMC and Chungbuk. This is especially relevant given that Vietnam and Korea are comprehensive strategic partners, actively promoting trade, industrial, and energy cooperation with the goal of reaching a USD 150 billion trade turnover by 2030.

Mr. Hoan, Vo Van, Vice Chairman of the HCMC People’s Committee, stated at the forum that the cooperation relationship between HCMC and Korea has developed significantly in recent years, particularly in the economic, trade, investment, and tourism sectors. Korea initiated 127 new investment projects in HCMC worth USD 27 million in 2023 alone. Korea has 2,160 projects totalling USD 5.5 billion in investment, accounting for 9.5% of total foreign investment in HCM. Numerous Korean business delegations seeking cooperation and investment opportunities have also visited the city.

Mr. Mai, Phan Van, Chairman of the HCMC People’s Committee, met with Mr. Kim Young Hwan, Governor of Chungcheongbuk-do province, on December 18th, to sign a Memorandum of Understanding on friendly cooperation between the HCMC People’s Committee and the Chungbuk Provincial Government. This memorandum prioritizes economic cooperation, which includes promoting trade and investment support, exchanging agricultural experiences and smart production technologies, cooperating between universities and high schools, cultural exchanges, and encouraging businesses to collaborate in aviation, sports, tourism, and other fields.

Mr. Mai, Phan Van, Chairman of the HCMC People’s Committee, and Mr. Kim Young Hwan, Governor of Chungcheongbuk-do province, signed a Memorandum of Understanding on friendly cooperation between the HCMC People’s Committee and the Chungbuk Provincial Government (Image: Vietnam News Agency )

Businesses expect that signing a Memorandum of Understanding on friendly cooperation and organizing business connection activities through the HCMC – Chungbuk Business Forum will be an important milestone. Businesses participating in these events hope to have many opportunities to connect, capitalize on each other’s strengths, and contribute to sustainable development and prosperity.

Vũ Phong Energy Group

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