The Investment Vision Framework is for low and low-middle income countries to direct investment towards transformational change. The framework can be used as a tool to support governments into defining long-term strategies (LTS) as part of the process to identifying how to unlock the flows of public and private funds to achieve the Paris Agreement.
Vietnam stands at an inflection point, primed to take advantage of strong policies and human and natural capital to build its competitive advantage in a low-carbon economy. Our analysis with Vivid Economics highlights how Vietnam is already a specialist in components required for smart grids and energy storage with promising opportunities in other technologies such as solar PV and wind power. A low-carbon industrial strategy can help realign Vietnam’s economy towards these increasingly profitable sectors and help maintain its high economic growth. If implemented, Vietnam stands to gain substantially from this strategy, with some estimates indicating savings of over US$23 billion to 2030. These savings are predicted to come from a renewables-led pathway where renewable energy generation capacity will quadruple in the same period.