Transforming Vietnam into a Green Transition Research Hub
Incorporating offshore wind power projects into green hydrogen production helps reduce the investment burden of the domestic power system. Photo: EVN Opportunities for startups in green hydrogen production In the context of a global shift towards clean energy sources, hydrogen is emerging as an alternative to fossil fuels. According to McKinsey, the hydrogen economy could support global revenues of more than US$2.5 trillion per year by 2050, creating jobs for more than 30 million people, and helping avoid 6 billion tons of CO2 emissions. The International Energy Agency (IEA) predicts the hydrogen market could be worth more than US$1,400 billion per year by 2050. Developing and emerging economies will hold more than 65% of this market. Vietnam is also not outside that green transformation race. Recently, the Ministry of Industry and Trade issued a document requesting the Government to approve the strategy on hydrogen energy production until 2030, with a vision to 2050. ...