Windmills in Bac Lieu (Photo: VNA)

Hanoi (VNA) – The Central Institute for Economic Management (CIEM) and the German Friedrich Ebert Stiftung (FES) foundation co-organized a workshop on energy transition in connection with social equity in Hanoi on June 1.

The event is part of the FES’s comparative study on energy transition and social equity targeting eight Asian countries, including Vietnam.

Deputy Director of the CIEM Nguyen Thi Tue Anh said apart from hydropower, renewable energy is little used in Vietnam. Meanwhile, the utilization of fossil fuels to develop industrial sectors and transport is increasing rapidly.

Vietnam has built a number of programmes and policies to cope with climate change and develop the energy sector, she said, noting that energy transition could ensure social equity by increasing quality of energy services for everyone, generating jobs, modernizing industry, improving economic efficiency and growth, enhancing environmental quality, and mitigating climate change.

Experts suggested Vietnam developing a new long-term energy vision to enhance the capacity of accessing energy and improve the efficiency of energy in addition to reducing greenhouse gas emissions and striving toward using 100 percent of renewable energy.

It is necessary to invest in energy storage capacity and the electricity grid, experts said, also stressing the need to enhance technical and financial transparency of State groups in the field of energy to ensure fair competition, raise productivity and benefit consumers more.

Besides joining policy dialogues on energy development, Vietnam should devise fiscal policies and regulations to promote the use of renewable energy and energy efficiency, especially in remote and ethnic minority areas and labour-intensive sectors, as well as among women and low income earners.-VNA