Energy security crucial to sustaining double-digit growth: experts

As Vietnam enters a new development phase with goals of achieving double-digit economic growth, ensuring energy security, particularly a stable electricity supply, has become a decisive factor underpinning this goal, said insiders.

Solar power system in Khanh Hoa province (Photo: VNA)
Solar power system in Khanh Hoa province (Photo: VNA)

Hanoi (VNA) - As Vietnam enters a new development phase with goals of achieving double-digit economic growth, ensuring energy security, particularly a stable electricity supply, has become a decisive factor underpinning this goal, said insiders.

With rising power demand driven by rapid industrialisation, urbanisation, and economic restructuring, the energy sector is increasingly seen as both a bottleneck and a key growth engine.

The revised Electricity Law, along with Resolution No. 253/2025/QH15, is helping to remove institutional barriers, paving the way for greater investment inflows and technology transfer while advancing the dual objectives of energy security and net-zero emissions.

According to Dr Can Van Luc, Chief Economist at BIDV and member of the Prime Minister's Policy Advisory Council, Vietnam’s electricity demand is expected to grow sharply in the coming years. Power consumption rose by about 8% annually during 2021–2025, but is projected to surge to 10–12% per year in 2026–2030 before stabilising at 7–7.5% in the following period.

Such double-digit growth in electricity demand presents significant challenges, he said, noting that investors, particularly FDI firms, are increasingly focused on two decisive factors: whether Vietnam can ensure sufficient electricity to sustain double-digit growth, and whether power prices are competitive enough to ensure production efficiency.

12.png
uong Tan wind power plant invests in a modern battery storage system to ensure the plant's operation continues even when it is disconnected from the national power grid. (Photo: VNA)

Amid these pressures, ensuring energy security has been reaffirmed as a consistent strategic priority of the Party and State.

Tran Hoai Trang, Deputy Director General of the Electricity Authority under the Ministry of Industry and Trade (MoIT), stressed that energy security is not only a cornerstone of socio-economic development but also an integral part of national security.

Citing Resolution No. 70-NQ/TW on national energy security through 2030 with a vision to 2045, Trang underscored that energy development must be prioritised to support sustained economic expansion of over 10% in the coming decades.

“Energy planning must be implemented in a coordinated, unified, and effective manner to meet development goals,” he said.

While the Electricity Law provides the legal foundation, Resolution No.253/2025/QH15 is widely seen as a breakthrough policy instrument that directly addresses longstanding technical bottlenecks that have constrained the sector for years.

Doan Ngoc Duong, Vice President of the Institute of Energy under the MoIT, highlighted that the resolution’s most significant impact lies in streamlining administrative procedures, decentralising authority, and introducing more flexible planning mechanisms.

Previously, any adjustment to power projects had to wait for periodic planning revisions, often conducted every five years, creating delays and inefficiencies.

13.png
In Huong Hoa, hundreds of towering wind turbines stand against the sky, their rotating blades steadily generating green electricity for the national grid. (Photo: VNA)

One of the sectors set to benefit most from the new approach under Resolution No. 253 is offshore wind power, often described as Vietnam’s “energy treasure”, which has yet to be fully developed.

According to Bui Vinh Thang, Vietnam Country Manager of the Global Wind Energy Council, the new mechanisms in the resolution reflect a strong commitment to institutional breakthroughs.

Notably, offshore wind projects will be directly assigned rather than subject to competitive bidding. During 2026–2030, projects will be allocated by the Prime Minister, with further decentralisation to local authorities planned for the subsequent period.

This approach is expected to shorten approval timelines and accelerate project deployment, Thang noted.

Growth pressures, combined with the synergy of strong political determination, a solid legal foundation, and flexible implementation mechanisms, are forming a robust “three-pillar” framework.

Despite ongoing challenges in financing and technology, Vietnam is making significant strides toward achieving sustainable development and long-term prosperity, anchored in a secure and resilient energy system./.

VNA

See more

The second congress of the Vietnamese Youth and Student Federation in Europe (VYSEF) on May 9 ( Photo: VNA)

Vietnamese youth in Europe strengthen ties, expand network

For 2026–2031, VYSEF aims to develop in a more professional and sustainable manner, focusing on promoting digital transformation, improving coordination of activities, strengthening connections among young intellectuals, and promoting cooperation with international partners.

Party General Secretary and State President To Lam meets with the Vietnamese community, officials and staff of the Vietnamese Embassy in Sri Lanka on May 8. (Photo: VNA)

Top leader meets Vietnamese embassy staff, community in Sri Lanka

Party General Secretary and State President To Lam praised the community’s efforts in preserving Vietnamese culture, language and traditions and called on them to uphold the national identity while integrating well into the host society and complying with local laws.

At the HUTECH Job Fair 2026 in Ho Chi Minh City on May 7. (Photo: HUTECH)

Nearly 200 technology firms join HUTECH Job Fair 2026

The event offered more than 6,600 job and internship opportunities across a wide range of sectors, including information technology, engineering, aviation, logistics, finance, e-commerce, tourism and services. It was jointly organised by technology enterprises and the Ho Chi Minh City University of Technology (HUTECH).

Politburo member and Director of the Ho Chi Minh National Academy of Politics (HCMA) Assoc. Prof. Dr. Doan Minh Huan (right) and Chief Representative of the Japan International Cooperation Agency (JICA) in Vietnam Kobayashi Yosuke at their meeting on May 7. (Photo: VNA)

Vietnam, Japan strengthen cooperation in leadership training

Stressing that Vietnam is entering a new stage of development with increasingly high demands on the quality of human resources, particularly strategic-level leaders and managers, Politburo member and Director of the Ho Chi Minh National Academy of Politics (HCMA) Assoc. Prof. Dr. Doan Minh Huan suggested that the two sides continue to deepen, upgrade and renew their training cooperation programmes.

The naval force presents the national flag to a fisherman. (Photo: VNA)

Vietnam Fisheries Society protests China’s unilateral fishing ban in East Sea

The society stressed that the ban is unilateral and unjustified; seriously infringes upon Vietnam’s sovereignty, rights and legitimate interests; violates international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS); and runs counter to the Declaration on the Conduct of Parties in the East Sea (DOC).

Tay Ninh Cao Dai Holy See, located in Long Hoa ward, Tay Ninh province, is regarded as the spiritual centre of Cao Dai. (Photo: VNA)

📝OP-ED: Freedom of belief and religion in Vietnam cannot be distorted

According to the Ministry of Ethnic and Religious Affairs, more than 95% of the population engage in religious or belief-related activities. A total of 43 organisations representing 16 religions have been officially recognised and granted registration certificates, with nearly 28 million followers.

The Vietnam Association for Protection of Child Rights (VACR) holds an extraordinary congress in Hanoi on May 5-6. (Photo: VNA)

Child rights association puts online safety at forefront

Since the start of the tenure, the Vietnam Association for Protection of Child Rights (VACR) has mobilised more than 250 billion VND (9.5 million USD) in cash and goods to support about 235,000 children nationwide. It also reported legal counselling in nearly 140 child abuse and rights violation cases.