US to exempt tariffs on Southeast Asian solar panels for 24 months
U.S. President Joe Biden is due to allow solar panels to be imported to the U.S. from Cambodia, Malaysia, Thailand and Vietnam without risk of tariffs for a 24-month period.
The action, to be announced by the U.S. President from Washington on Monday, comes amid concern about the impact of the U.S. Commerce Department's months-long investigation into whether imports of solar panels from the four Southeast Asian nations are circumventing tariffs on goods made in China.
The Biden administration announced last week that it would cut the cost of building wind and solar power projects on U.S. public land by 50%.
“The new policy will reduce rents and fees substantially and enhance rate predictability for wind and solar developers. On average, the [Bureau of Land Management] expects rents and fees to decrease by over 50% due to lower acreage rents and a standard megawatt fee that promotes more efficient wind and solar or hybrid projects on public lands,” the U.S. Department of the Interior stated.
The department is reportedly working to permit 25 gigawatts of clean energy on public lands by 2025, enough to power around 4.75 million homes. Meanwhile, the U.S. Bureau of Land Management (BLM) last year permitted 2.89 GW, up 35% from 2020.
The department will also establish renewable energy coordination offices in BLM offices in western states to increase staff numbers to process renewable energy environmental reviews and permit applications.
“Across the 245 million acres of public land it manages, the BLM has prioritized a combined total of roughly 870,000 acres for solar energy development within its land use plans. Under a scenario where 8.5 acres is needed to generate 1 megawatt of electricity from photovoltaic solar panels, these prioritized areas could support more than 100 gigawatts of electricity, enough to power more than 29 million homes,” the BLM’s website states.
“In addition to the prioritized areas, the BLM maintains more than 19 million additional acres as open for potential solar development, subject to a variance process.”
Vietnam has attracted global producers of solar modules and panels, with major American, Canadian, and Chinese investors already present, as the tropical country is ramping up investment in solar and wind power.
Shanghai-based JinkoSolar, First Solar from Tempe, Arizona, and Canada-headquartered Canadian Solar have made manufacturing in Vietnam an important part of their global production networks.
JinkoSolar, one of the world’s top makers of solar modules, has 12 production facilities globally, including two in Vietnam. Both are in northern Quang Ninh province’s Song Khoai Industrial Park, developed by Thailand’s Amata Corp. Meanwhile, U.S. major First Solar operates three production sites globally - in Ohio; Malaysia’s Kulim; and Ho Chi Minh City, Vietnam’s southern economic hub. It has invested $830 million in two manufacturing facilities in the Vietnamese city.
- Read More
Vietnam startup expert closes Monkey in Black coffee shop
Tung BT (Tran Thanh Tung), a popular startup expert and social media influencer, is closing his final coffee shop in Ho Chi Minh City, ending a 10-year journey of the "Monkey in Black" brand.
Companies - Thu, November 21, 2024 | 8:16 am GMT+7
Vietnam-Singapore ties set for elevation to comprehensive strategic partnership
Vietnam and Singapore will elevate bilateral ties to a comprehensive strategic partnership and Singaporean Prime Minister Lawrence Wong will visit Vietnam next year.
Politics - Wed, November 20, 2024 | 8:16 pm GMT+7
Vietnam’s Vingroup establishes robotics firms, with co-founder’s 2 sons as major shareholders
Vingroup, Vietnam’s largest private conglomerate by ecosystem, has set up a robotics unit as it moves to ramp up its industrial-high technology ecosystem.
Companies - Wed, November 20, 2024 | 6:17 pm GMT+7
E-commerce, digital platforms likely to pay taxes on behalf of their sellers in Vietnam
E-commerce and digital platforms will have to declare and pay taxes on behalf of their sellers starting January 1, 2025, according to a draft amendment to the Law on Tax Administration.
Finance - Wed, November 20, 2024 | 5:37 pm GMT+7
Flexibility, adaptability key to effective leadership: PepsiCo Vietnam exec
In a rapidly changing world, leaders need to develop the skill of being “as flexible as seaweed,” says Nguyen Viet Ha, general director of PepsiCo Foods Vietnam.
Companies - Wed, November 20, 2024 | 3:52 pm GMT+7
Central Vietnam province okays $88 mln automobile part project
Binh Thuan province's industrial zone authority on Tuesday granted an investment registration certificate to a $88 million project invested by Taiwan’s NeoSCM Limited.
Industries - Wed, November 20, 2024 | 3:44 pm GMT+7
Thai packaging firm Thantawan Industry makes inroad into Vietnam
Thantawan Industry Public Company Limited, a leading Thai manufacturer of premium plastic packaging, has inked a deal for a 30-year factory lease, marking its inaugural investment in Vietnam.
Industries - Wed, November 20, 2024 | 3:34 pm GMT+7
Developer Novaland gets legal hassles cleared for satellite urban area bordering HCMC
Major property developer Novoland has had legal obstacles for its Aqua City project cleared after Dong Nai Chairman Vo Tan Duc approved Tuesday a critical adjustment to the southern province’s urban development plan.
Companies - Wed, November 20, 2024 | 2:29 pm GMT+7
Pegatron to quadruple workforce at $800 mln project in Vietnam
Pegatron Vietnam, a subsidiary of Taiwanese electronics manufacturer Pegatron Corporation, is set to soon quadruple the company's workforce for its $800-million project in Vietnam.
Industries - Wed, November 20, 2024 | 2:03 pm GMT+7
Thailand’s WHA greenlighted to invest $55 mln in central Vietnam industrial park
WHA Group, a leading Thai provider of fully integrated logistics and industrial facilities solutions, has secured in-principle approval from the Vietnamese government to invest in an industrial park in central Vietnam.
Industrial real estate - Wed, November 20, 2024 | 12:01 pm GMT+7
Indonesia, Brazil sign cooperation deals worth $2.65 bln
Indonesia and Brazil on Monday sealed cooperation agreements worth $2.65 billion in the areas of renewable energy, sustainable agriculture and technology at the Indonesia-Brazil Business Forum held in Rio De Janeiro, Brazil, on the sidelines of the G20 Summit.
Southeast Asia - Wed, November 20, 2024 | 11:57 am GMT+7
Nusantara not yet feasible as Indonesia’s capital city: authorities
Indonesian Minister of Home Affairs Tito Karnavian said Jakarta still holds the capital status despite the enactment of State Capital Law No. 3 of 2022, adding that the capital city will officially be relocated after the president issues a presidential decree.
Southeast Asia - Wed, November 20, 2024 | 11:55 am GMT+7
Malaysia’s Halal industry to make up 10.8% of GDP by 2030
Malaysia’s Halal industry is projected to account for 10.8% of the country's GDP by 2030, with an estimated value of RM231.1 billion ($51.7 billion).
Southeast Asia - Wed, November 20, 2024 | 11:48 am GMT+7
Thailand takes more fiscal measures to sustain growth momentum
The Thai government is working on a raft of fresh fiscal measures to sustain an economic recovery, foster new foreign investment, and lower the near-record household debt, says Thai Prime Minister Paetongtarn Shinawatra's top aide.
Southeast Asia - Wed, November 20, 2024 | 11:46 am GMT+7
Indonesia named world's most generous country in 2024
Indonesia has been the world's most generous country for the seventh consecutive year since 2017, reported local weekly magazine Tempo.
Southeast Asia - Wed, November 20, 2024 | 11:41 am GMT+7
Work begins on Mitsubishi Estate’s $55 mln logistics facility in northern Vietnam
Logistics facility brand Logicross, under Japan’s Mitsubishi Estate, kicked off the construction of its Logicross Hai Phong ready-built warehouse in Vietnam’s northern city of Hai Phong on Tuesday.
Industrial real estate - Wed, November 20, 2024 | 10:58 am GMT+7