DECEMBERASIA BUSINESS OUTLOOK8NEWSROOMINDIA SURPASSES CHINA IN CLEAN TECH FUNDING AMID GREEN PUSHVietnam is at risk of becoming the next target of tariffs under the next US government as data indicates that its trade surplus with the US is growing, as per analysts and industry executives.Only China, the EU, and Mexico have a greater commercial surplus with the US than the communist-run nation, which is home to major industrial activities of US multinational corporations like Apple Inc., Google, Nike Inc., and Intel Corp.Samsung Electronics Co. of South Korea is a significant exporter of cellphones and other electronics from Vietnam to the United States.The appointment of Peter Navarro as Donald Trump's senior advisor for trade and manufacturing is another indication that tariffs may be imposed on Vietnam. Many Washington policymakers view Navarro's Project 2025 recommendations as a model for the new Donald Trump administration, and he has stated that tariffs on Vietnam would be a very effective way to reduce the US trade deficit."Navarro has been a well-known expert under the [Donald] Trump administration for increasing the size of the American manufacturing sector, imposing high tariffs, and repatriating global supply chains," said Nguyen Hung, a specialist in supply chains at RMIT University Vietnam. In recent months, India has surpassed China as a source of clean technology funding as part of initiatives to increase local green manufacturing. According to Raj Pai, founding partner of GEF Capital Partners, a climate-focused private equity fund, the initiative is being propelled by India's efforts to develop domestic renewable energy capacity in order to reduce dependency on China, as well as the potential for exporting the technologies.This year, more than a dozen companies involved in renewable energy and electric vehicles went public, such as Ola Electric Mobility Ltd., which makes scooters, and Waaree Energies Ltd., which makes solar panels. Since trading started last month, shares of clean power company NTPC Green Energy Ltd. have increased by more than 30 percent."The most popular topic for venture capital in India at the moment is climate," stated Abhinav Sinha, head of technology and telecoms at British International Investment Plc, the development-finance arm of the UK government. With more investments in India than any other nation, BII has pledged to invest at least $1 billion in climate-related projects by 2026.Eversource Capital CEO Dhanpal Jhaveri stated, "We are not even in a pond, we are in a puddle where we need an ocean of capital." Eversource Capital closed India's largest climate impact fund in 2022 and is now spending over $125 million in energy demand services. VIETNAM FACES TARIFF RISK AMID GROWING TRADE SURPLUS WITH US
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