Vietnam’s Electricity Shortage

Vietnam is currently facing a significant electricity shortage. This issue has been widely reported by various self-media and industry outlets, highlighting the surge in electricity consumption due to heat waves and poor water conditions.

Current Situation and Impact

The power crisis in Vietnam has put many enterprises on high alert. The European Chamber of Commerce in Vietnam recently released a survey indicating that the power shortage has heavily impacted local European companies. Despite the recent alleviation due to the flood season, 60% of surveyed members still reported significant issues, with 10% saying it seriously affected their operations.

Government Response and Industry Opportunities

In response, the European Chamber of Commerce has called on Vietnamese authorities to formulate a long-term plan to address the power shortage. Meanwhile, many photovoltaic industry enterprises are eyeing the Vietnamese market, which remains relatively unfamiliar and undeveloped for Chinese companies. The Vietnamese government’s policy to install photovoltaic power generation on 50% of rooftops presents a notable opportunity.

Challenges for Foreign Enterprises

Despite the potential, the Vietnamese market poses challenges due to the language barrier and the lack of previous deployments by photovoltaic companies. The market conditions and the extent of the electricity shortage remain unclear to many domestic enterprises.