Green Alliance

Energy Capital Vietnam Signs Six Memoranda of Understanding During the Asia-Pacific Cooperation Leaders’ Week 2023 Conference

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Friday, December 1, 2023
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HOUSTON, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Energy Capital Vietnam (ECV), a project development and holding company established as a platform for direct investment into energy and infrastructure within Vietnam, signed six memoranda of understanding (MOU) in San Francisco during the Asia-Pacific Cooperation Leaders’ Week 2023 Conference.

Key Points: 
  • HOUSTON, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Energy Capital Vietnam (ECV), a project development and holding company established as a platform for direct investment into energy and infrastructure within Vietnam, signed six memoranda of understanding (MOU) in San Francisco during the Asia-Pacific Cooperation Leaders’ Week 2023 Conference.
  • These six agreements represent ECV’s ability to assemble a diverse set of partners and mobilize them to provide American expertise to Vietnam.
  • ECV, SaigonTel, and KBC will develop ports, energy services breakbulk and storage, liquid and dry bulk storage, and adjacent facilities.
  • Energy security remains paramount as Vietnam seeks to integrate deeper into global supply chains, especially for semiconductors and other hi-tech sectors.

The UK needs a new industrial strategy or it will lose the global green subsidy race

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Monday, May 15, 2023
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UK businesses have criticised the government for the lack of a clear industrial policy.

Key Points: 
  • UK businesses have criticised the government for the lack of a clear industrial policy.
  • Industry body Make UK has warned the country “risks being squeezed” by US and EU green subsidy packages.
  • Outside the UK, industrial policy is back – and in a big way.

New industrial policies

    • The US has been the most prominent flag-bearer for these new industrial policies.
    • Over the next decade, these three packages are expected to total over US$2 trillion of industrial policy support for US businesses.
    • To combat these issues, the EU announced its own €250 billion (£217 billion) Green Deal Industrial Plan in February.

What about the UK?

    • And so far, there has been no policy response to either the US or EU packages.
    • The Green Alliance think tank believes there is a £14.1 billion shortfall in low carbon infrastructure investment in the UK.
    • The Labour Party has promised to invest £28 billion a year through a dedicated green investment fund and transition programme.
    • But this approach is also likely to fall foul of existing WTO rules and possibly the EU-UK Trade and Co-operation Agreement.

The green subsidy race

    • Both the US and EU subsidy schemes should help to accelerate a much needed green transition.
    • They could also create a green subsidy race – with UK not yet even at the starting line.
    • Doing so would enhance the prospects of all countries in this race in delivering sustainable, inclusive and green growth.