Vietnam's Future Industries and Technology Goals
GG Power CEO Bui Xuan Binh evaluated Vietnam's potential in the energy storage and technology sectors in line with the country's development goals.
Mr. Bui Xuan Binh, Chairman of the Board and CEO of GG Power, made statements on Vietnam's new-era development goals, science and technology policies, and the future of the energy storage sector.
Development Goals and New Policies
During discussions held to achieve the double-digit growth target, Vietnam's capabilities, technologies, and businesses to be utilized for development in the new era were addressed. Resolutions issued by the Politburo envision innovation in the development model, the advancement of science and innovation, and the private sector serving as the leading driving force of the economy.
Global Mindset in Domestic Technology
GG Power CEO Bui Xuan Binh stated that these directions set by the Politburo create a favorable framework for domestic technology enterprises. Emphasizing that businesses must adopt a global mindset from day one, Binh noted that prioritizing R&D activities is essential.
Automation and Production Habits
Stating that domestic enterprises must break away from traditional manual assembly habits as soon as possible, Binh drew attention to the importance of transitioning to automation in production processes. It was stated that investments in automated production lines will play a critical role in the country's industrial future.
The Importance of the Energy Storage Sector
It is projected that Battery and Energy Storage systems could become one of the country's most important sectors over the next 10 to 20 years. It was noted that the sector holds the potential to guide the industries of the future.
Power Development Plan and Capacity Needs
According to the revised Power Development Plan VIII, it has been determined that the country will need a significant amount of energy storage capacity in the future. Within the scope of the plan, it was stated that Vietnam will require approximately 10 to 16 GW of energy storage capacity.
Call for Full Mastery of Technology
Emphasizing that Vietnamese enterprises should not remain merely at the assembly stage, Binh underlined the necessity of achieving full mastery over technology in critical areas such as R&D, design, testing, and energy management software.