Page 481 - Ebook HTKH 2024

investment from China to other countries. One of the destinations that many US
companies and other transnational companies are leaving out of China is Vietnam.

The appearance of many large companies in Vietnam has caused the demand for
electricity in Vietnam to skyrocket, creating great pressure on the Vietnamese electricity
industry in creating a stable electricity supply. Many technology billionaires have come
to Vietnam to seek investment opportunities such as billionaire Bill Gates - President of
Microsoft (has visited Vietnam 3 times from 2016 to 2024), Tim Cook - CEO of Apple
(2024), Jensen Huang - Chairman and CEO of Nvidia (2023). This has opened up
opportunities for Vietnam in developing the semiconductor industry (Nguyen Nga,
2024). To develop high-tech industries, having a stable and quality electricity source is

an urgent requirement.
In addition, in response to the requirements of the development trend of green
economy, circular economy, and knowledge economy in the fourth industrial revolution,
the Vietnamese electricity industry requires the development of the electricity industry
in an increasingly "green" direction.
In that context, expanding the production of renewable energy sources in Vietnam

is extremely necessary.
3. Some achievements in generating electricity from renewables in Vietnam
Generating electricity from renewables in Vietnam has been contributing to the
electricity supply of Vietnam in general and to the socio-economic development of
Vietnam in particular. Among the renewable energies used to produce electricity,
hydropower is still the number one, followed by wind power and solar power.
Regarding electricity production, in 2023, the total output of Vietnam’s entire
system was 280,629 billion kWh, of which: hydropower is 80,904 million kWh, wind
power is 11,367 million kWh, solar power is 25,702 million kWh, and biomass power

is 853 million kWh (See Figure 1).
Figure 1: Vietnam’s total electricity output in 2023
(Unit: Million kWh)

Source: EVN, 2024.
In the National Power Development Plan for the 2021-2031 period, with a vision
up to 2050 (hereinafter referred to as Power Plan VIII), Vietnam has set a goal of

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