Biofuels Potential for Transportation Fuels in Vietnam: A Status Quo and SWOT Analysis

Abstract

Petroleum consumption for road transportation is well-known as the largest source of CO2 emissions. Worldwide, biofuel is becoming more attractive as substitute for crude oil owing to the increasing demand for environmentally friendly energy and its contribution towards petro dependency reduction and climate change mitigation. This paper reviews the facts and prospects of biofuel production in Vietnam. A SWOT model is adopted to study the strengths, weaknesses, opportunities and threats of biofuels production. The conclusion is drawn that with advantages of weather conditions, soil conditions, the availability of biomass and commitment from government, the country has potential to develop biobuels for domestic consumption. However, threats to production are posed by social acceptance, land use, and technology. Thus, biofuels production still need more supports from government through robust policies, regulations, and institutional framework.