Business

Plan to power up energy sector

Providing a sufficient source of energy to facilitate Vietnam’s industrialisation and modernisation while also ensuring national energy security remained a challenge as Vietnam and the region are importing more and more energy.
Plan to power up energy sector ảnh 1Deputy Minister of Industry and Trade Dang Hoang An speaks at the conference. (Photo: VNA)

Hanoi (VNA) - Providing a sufficient source of energy tofacilitate Vietnam’s industrialisation and modernisation while also ensuringnational energy security remained a challenge as Vietnam and the region areimporting more and more energy.

Deputy Minister of Industry and Trade Dang Hoang An delivered the statement ata conference held in Hanoi on November 11.

In this context, Vietnam’s energy master plan for 2021-30 with a vision to 2050is expected to build scenarios that will not increase energy costs, preventenergy from becoming a burden of the economy, ensure the nation’s harmonisedenergy development and contribute to promoting the country’s economicdevelopment, An said.

From 1997 to 2019, Vietnam's economy maintained a growth rate of nearly 7 percent.Its energy demand in the recent 10-year period increased 6.5 percent forprimary energy while demand for electricity rose 10.5 percent in the period, henoted.

At the conference, delegates presented the overall energy development plan andsub-sectors planning of oil, gas, coal and electricity.

Nguyen The Thang, Head of the Electrical System Development Department underthe Institute of Energy, said that according to the master plan’s basescenario, commercial electricity will reach 490.8 billion kWh by 2030 and 976billion kWh by 2050, maintaining an increase of 8.3 percent in 2021-30, thendecreasing to 3.4 percent in 2031-50.

 In another scenario, commercialelectricity will reach 523 billion kWh in 2030 and 1.110 billion kWh in 2050.

Nguyen Tai Anh, Deputy General Director of Vietnam Electricity said theMinistry of Industry and Trade, the consulting unit to build the energy masterplan, should consider adding the import and transportation of LNG gas into theplan while evaluating the model of gas import because gas is not similar toother energy sources.

According to the Ministry of Industry and Trade (MoIT), the master plan willhelp provide a comprehensive assessment of national energy supply and demandand connect energy development with the socio-economic-environmentaldevelopment goals set by Vietnam and its commitments to the internationalcommunity.

The MoIT set a target that this plan will ensure the harmonious development ofenergy sub-sectors while also creating favourable conditions for Statemanagement activities in the energy sector.

According to the MoIT, this is the first time that Vietnam has built a masterplan on energy. Therefore, the planning will face many challenges insynchronising and ensuring compatibility with other plans. Notably, drawingmechanisms for the plan requires the participation of many stakeholders./.
VNA
#Vietnam industrialisation #Vietnam modernisation #energy security #Dang Hoang An #energy master plan #Vietnam News Agency #vietnamplus
Follow VietnamPlus

Related News

See more

Key export sectors such as textiles – garments, footwear and furniture, along with many signature products of Da Nang, have strong potential to expand their markets through online export channels. (Photo: VNA)

Da Nang seeks to boost online exports

To help businesses go global, Da Nang is shifting from supporting individual online activities to developing an integrated ecosystem covering products, branding, platforms, payments, logistics, legal issues and market information. This is also part of the city’s e-commerce development orientation for 2026-2030, which identifies e-commerce as an important component of the digital economy.

Deputy Minister of Foreign Affairs Le Thi Thu Hang receives Rolf Mutzenich, a member of the Foreign Affairs Committee of the German Bundestag, in Hanoi on August 18. (Photo: baoquocte.vn)

Vietnam welcomes German firms’ expansion

Vietnam welcomes and stands ready to create favourable conditions for German businesses to expand their investment and operations in the country, particularly in infrastructure, smart seaports, renewable energy, high-speed railways, science and technology, and high-quality human resource training.

Khanh Hoa province has the largest sheep population in Vietnam, with around 100,000 individuals. (Photo: VNA)

Khanh Hoa province explores Halal ecosystem development

Khanh Hoa aims to estabish itself as a Halal-friendly destination while supporting businesses in expanding export markets, attracting strategic partners and investors, and drawing projects from countries with strong Halal logistics, tourism, manufacturing, processing and agriculture sectors.

The proportion of Vietnamese goods remains high at supermarkets. (Photo: VNA)

Vietnamese brands win over domestic consumers to go global

Amid increasingly fierce global competition, the goal is no longer simply to increase domestic consumption of Vietnamese goods, but to develop strong Vietnamese brands capable of winning consumers through quality, innovation and added value, thereby creating a stepping stone for expansion into international markets.

Illustrative image (Photo: VNA)

Automated VAT refunds to be rolled out from December

As of August 11, VAT refunds rose 32% from a year earlier, reaching 64.4% of the full-year estimate. Tax authorities issued 11,627 refund decisions totaling 111.726 trillion VND (4.26 billion USD), up 9% by volume. The payouts improved cash flow for companies and supported production, trade and exports.

ST25 rice is the centrepiece of the Vietnam Goods Week at Selgros. (Photo: VNA)

ST25 rice officially enters Selgros wholesale supermarket chain in Germany

The placement of ST25 rice on Selgros shelves not only creates an additional opportunity for German consumers to access Vietnamese rice products, but also contributes to efforts to increase the added value of Vietnamese agricultural products by shifting the focus from volume to quality, branding and value.

Trains on the elevated section of the Cau Giay – Nhon route in Hanoi provide convenient transportation for local residents. (Photo: VNA)

Multimodal connectivity to drive Vietnam’s transport infrastructure

Under the proposed approach, roads would serve mainly as connectors and for first- and last-mile transport; railways would handle large volumes over long distances; maritime transport would serve import and export cargo; inland waterways would carry large volumes at low cost; and air transport would focus on fast delivery and high-value goods.

Amata Industrial Park in Dong Nai city (Photo: VNA)

Green shift powers investment in southeast Vietnam

The Amata Industrial Park in Dong Nai City, established 32 years ago and covering more than 500ha, is home to over 160 domestic and foreign businesses. Selected in 2020 as one of three national pilot sites for conversion into an eco-industrial park, Amata has raised its compliance with the international eco-industrial park framework from 41% to 86% in 2024, and is working towards becoming Dong Nai's first certified eco-industrial park.

At a port in Ho Chi Minh City (Photo: VNA)

Multi-channel capital mobilisation needed to achieve double-digit growth

The Ministry of Finance estimates development investment for 2026-2030 at a minimum of 38.5 quadrillion VND (1.48 trillion USD), or about 40% of GDP. The state budget is expected to provide only about 20%, or more than 7.7 quadrillion VND, leaving over 80%, or more than 30 quadrillion VND, to be raised from the broader economy. That makes expanding capital mobilisation channels beyond bank credit essential.

An aerial view of the Nhieu Loc – Thi Nghe area in Ho Chi Minh City. The southern metropolis is home to the Vietnam International Financial Centre. (Photo: VNA)

Vietnam International Financial Centre launches membership registration system

Integrated into the official Vietnam International Financial Centre portal at vifc.gov.vn, the online system for registering and recognising members provides a unified online service channel through which investors, organisations and businesses can complete procedures related to membership, from new registration and recognition to information updates and termination of membership.