Energy Efficient Product Market Open to Investors

04/11/2012

Vietnam Energy Association Chairman Tran Viet Ngai has said that Vietnam's energy efficient product market has plenty of room for investors due to limited product categories. At current, only a few such as compact and LED lamps are being produced. He is encouraging that both authorities and consumers encourage businesses to invest in new energy efficient products. He asserted that adequate technology, finance, and manpower are essential for businesses looking to succeed in diversifying the range of products in this sector.

As energy security rises in importance, the demand for energy efficient products has increased around the world. Both application and production are becoming a growing focus of businesses and consumers in Vietnam.

Some foreign investors have already made investments into this market, such as Hibiya Engineering and Veglia Laboratories, from Japan, who entered into a joint venture in Vietnam. They will work with Viet Energy Service and Consulting Joint Stock Company (Viet Esco) to provide Building Energy Management Systems (BEMS) for Hibiya Engineering buildings as well as energy efficient solutions for the country as a whole through Veglia Laboratories.

Intel Products Vietnam has also joined the field, with the biggest solar power system project in Vietnam. The project is made up of 1,092 solar energy panels and 21 transformers. It is capable of producing 321,000kWh to supply 30 percent of Intel Products Vietnam's power demand and reducing its carbon emissions by 221,300 kilograms each year.

In 2012, leading electronics manufacturers including Panasonic, Samsung, Toshiba, and LG are continuing to launch new energy efficient products. Dien Quang Lamp Company Chairman and General Director Ho Quynh Hung reiterated this by asserting that many Vietnamese businesses have made good progress in the energy efficient product market. The New Light LED Technology Limited Company (ASAMLED), Dien Quang Lamp Company, and Anh Minh Chau Lighting have launched several energy efficient products that consume half or less of the electricity of the same or similar kinds of products currently popular in the market. For example, LED lamps consumer only 50 percent of the energy that a conventional lamp does and is easy to install and replace. Interested consumers can join the 'Buy Vietnamese Goods' campaign and contribute to the production of LED lamps by using these products.

Experts agree that as long as investment grows, the market gains strength, and consumers continue gaining interest, the domestic energy efficient product market will see considerable growth in the coming time.

By Le MY

Energy Efficient Product Market Open to Investors

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Copyright by Agency for Innovation, Green Transition and Industry Promotion, Ministry of Industry and Trade