Vietnam’s Industrial Parks Embrace Chongqing’s Carbon-Neutral Technology | Insights

Chongqing - "We were impressed by China's ability to achieve its peak carbon target by 2023, well ahead of the 2030 goal," said Lim Chor Ghee, Senior Advisor at ADK Vietnam Lawyers, during his visit to Chongqing HUAYI Energy Research Institute Co. on August 15.

Lim added that this, combined with strong university-private sector collaboration in green energy research, offers valuable lessons for Vietnam.

This visit was part of the Regional Carbon Neutral Technology Matchmaking and Exchange Activity in Chongqing from August 14 to 18. Organized by the Chongqing Renewable Energy Society and the Chongqing Energy Research Society, the event brought together 13 Southeast Asian entrepreneurs and 20 Chinese representatives to discuss new energy, carbon neutrality, and the Green Belt and Road Initiative.

Chongqing HUAYI Energy Research Institute Co. leads in thermal energy storage, photovoltaic integration, and biomass energy. Partnering with Chongqing University, it pioneers low-carbon solutions through advanced research and development.

Lim discussed Southeast Asia’s carbon neutrality challenges, highlighting Vietnam's 2050 net-zero commitment. He noted the lack of a carbon market and the need to prepare for the European Carbon Border Adjustment Mechanism (CBAM).

"Vietnam needs to adopt measures to avoid high taxation under CBAM quickly, and we see the potential to implement Chinese energy storage technologies to support our solar energy sector," Lim added.

Lim highlighted the potential of energy storage systems in Vietnam, noting that costs have decreased significantly in China. He expressed interest in implementing these systems to enhance solar energy efforts in Vietnam.

Tan Yong Kwee, Senior Manager at BW Industrial Development JSC, highlighted the strong presence of Chinese investors in Vietnam's industrial parks. With 52 parks nationwide focused on standard and customized facilities, Chinese investors have accounted for over 60% of tenants in the past two years.

Tan highlighted the rise of electronics and appliance manufacturers, including BOE, Hisense, and Skyworth, who are increasingly producing in Vietnam for European and American markets.

Tan emphasized the need to learn from China’s experience in green and renewable energy, given its strong ties with Chinese customers.

 "China is leading the way globally in green energy, and we want to learn about the latest technological applications, particularly in plant operations and green energy, to better serve our clients who are focused on meeting European and American market standards," Tan explained.

A Chongqing HUAYI Energy Research Institute Co. representative highlighted the flexibility of their cooperation models, noting that projects can be done independently or as EPC (Engineering Procurement Construction) projects.

During the five-day event, participants focused on energy transition, conservation, and carbon neutrality, signed agreements, and shared best practices for green factories and buildings. This further enhances collaboration between China and Southeast Asia’s energy and environmental sectors.

(He Le, as an intern, also contributed to this report.)