Is the Vietnamese solar cable market worth investing in in 2021?

Is the Vietnamese solar cable market worth investing in in 2021?

As the COVID -19 has a negative impact on the global and Vietnamese economy, many foreign investors are worried that this will affect their plans for long-term investment projects in Vietnam, including those in the solar cable field. In addition to the above objective factors, will foreign investors face and will encounter other obstacles in their investment decisions? Will the solar cable market continue to attract foreign investment, contribute to Vietnam's energy security, and create momentum for Vietnam's sustainable economic development?

The Vietnamese market is indeed very promising. The amount of solar cable customers required is huge. Despite the impact of the COVID-19, the annual export volume continues to grow.

According to Vietnam’s National Renewable Energy Development Strategy, the Vietnamese government plans to expand the installed capacity of solar power generation to 12GW by 2030. The Vietnamese government and the Ministry of Industry and Trade are also finalizing and approving the Prime Minister’s decision to encourage Vietnam to develop a mechanism for solar energy with power generation potential. The development and advantages of Vietnam's clean energy industry, including solar and wind energy, still have room for development, attracting many foreign investors.

All in all, We are still very optimistic about the Vietnamese solar cable market.