Illustrative image (Source: nhipcaudautu.vn)UnderDecision No. 11/2017/QD-TTg dated April 11, 2017, solar power investors have topay corporate income tax at just 10 percent for their first 15 years ofoperation. They can also receive tax exemptions in the next four years and pay halftax for the next nine years.
Theyare also exempt from import tariffs to create fixed assets for the projects. TheState will purchase all electricity produced by the projects for 2,086 VND(9.35 US cents) per kWh.
NguyenThu Trang, a senior sales representative of Taiwanese Big Sun Group, one ofTaiwan’s leading businesses specialising in solar energy solutions, said BigSun wants to introduce state-of-the-art solar panel trackers in Vietnam to improvethe efficiency of solar power plants in the country.
BigSun also hopes to work with local steel firms to open tracker factories toreduce production costs, she said, adding that although tracker import tax is now0 percent, transportation costs remain high because of their weight.
Taiwan’sNeo Solar Power Corp (NSP) is also working with Vina Solar Technology Co., Ltdof Vietnam on a big solar energy project.
TimSun, a representative of NSP, said the cooperation is NSP’s first step toincreasing its presence in Vietnam and that the company will consider expandingits affiliation with Vina Solar while seeking other Vietnamese partners.
LTIReEnergy, another Taiwanese group specialising in inverter technology, is also consideringentering Vietnam.
LTIReEnergy General Director Tom Wang said he will visit Vietnam early next year toexplore the market, noting that he wants to introduce inverter technology, anadvanced technology helping reduce energy losses, in the country.
AlenWu, a representative of Motech Industries, Taiwan’s largest solar cellmanufacturer, said the company is also cooperating with Vina Solar and willseek more Vietnamese partners to benefit from the country’s friendly businesspolicies.
Accordingto the Foreign Investment Department under the Ministry of Industry and Trade,Vietnam has 16 foreign direct investment projects in green energy with totalregistered capital of 778 million USD, of which solar energy projects arevalued at 137.38 million USD.-VNA
VNA
