MAYASIA BUSINESS OUTLOOK8NEWSROOMRELIANCE POWER INKS 500 MW SOLAR DEAL IN BHUTAN WITH GREEN DIGITALVietnam's government has implemented new policies to support the development of the private sector in the country. Different mechanisms have been planned to be implemented for the development of the private sector, involving diversified involvement from the country's population.The main objective of the new policy is to remove the overlapping and unnecessary regulations that has been hindering the growth of the sector. The review of such laws is to be completed by December 31, 2025. Furthermore, the government is planning to revamp the administrative procedure by cutting 30 percent in processing time, compliance costs and business conditions. These targets of simplifying the business-related administrative procedures have to be met by 2025-2026, under resolution No. 66/NQ-CP.The ministry will also revise its Land access resolution under the new policies. The Ministry of Natural Resources and Environment will be responsible for fixing reasonable land prices, especially for non-agricultural production. The ministry will also ensure land allocation for industrial zones, hi-tech parks and startup joints. The government has urged the ministry to submit a new policy that will grant a rent reduction of at least 30 percent for private hi-tech firms, SMEs and startups.The Ministry of Finance along with The State Bank of Viet Nam will be providing two percent annual interest rate subsidies. The ministry will also propose a new corporate income tax exemption for two years and a 50 percent tax reduction for the next four years for start-up organizations that are supporting innovations. This also includes experts and scientists working for innovative enterprises.The Ministry is planning to submit a proposal for reserving state-funded construction, supply, and mixed tenders worth VND 20 billion for SMEs. This will be led by youth, women, ethnic minorities people with disabilities and people from remote or island areas. These new changes are expected to bring development in the private sector. Bhutan's Green Digital Pvt.Ltd has partnered with Reliance Power over a long-term power purchase agreement. Green Digital Pvt Ltd is the subsidiary of Druk Holding and investmetns Ltd (DHI). This has become a major milestone in clean energy cooperation between India and Bhutan. Through this deal Bhutan's largest solar power project will see effective development. This solar project is known to a 500 MW plant under a 50:50 joint venture between Reliance Power and DHI.The partnership has planned for an investment of up to 2,000 crore, the project will follow a Build-Own-Operate (BOO) model and is expected to surpass Bhutan's current solar capacity. Through this project, the cooperation aims to diversify the country's renewable energy portfolio, which is currently dominated by hydropower.Reliance Power has launched the Engineering, Procurement, and Construction (EPC) tendering process through international competitive bidding to ensure quality and efficiency. Furthermore, the company is working with financial institutions to secure long-tenor, sustainable project financing. The solar project will be developed in phased tranches over the next 24 months.This international initiative aligns with Bhutan's sustainability goals and supports South Asia's broader clean energy transition. It is seen as a sustainable step taken forward in regional infrastructure cooperation and energy integration.The agreement follows a strategic partnership formed in October 2024 between Reliance Enterprises--a collaboration between Reliance Power and Reliance Infrastructure--and DHI to develop solar and hydro projects in Bhutan. This includes the 770 MW Chamkharchhu-I hydroelectric project, further reinforcing Bhutan's long-term energy roadmap.The collaboration reflects a shared commitment to sustainable development and regional energy security. VIETNAM PLANS TO LAUNCH NEW POLICIES TO BOOST PRIVATE SECTORS
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