Specialisation in green technologies such as solar photovoltaic and lighting can help the Philippines achieve an industrial strategy that is inclusive and innovation-led, propelling growth in green jobs and reaching energy security. Our research with Vivid Economics, highlights that the Philippines already has significant export strengths in solar PV and efficient lighting, with promising opportunities in geothermal and energy storage. For the Philippines to be competitive in the global low-carbon economy, it requires a robust low-carbon industrial strategy to consolidate these promising opportunities.
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.