While domestic power sources - hydropower, gas power, solar and wind - remain the backbone of the country’s energy strategy, imported electricity serves as a crucial supplement to meet surging demand.

Affordable and competitive electricity rates play a vital role in ensuring consistent revenue streams for private enterprises, encouraging their participation in Vietnam's domestic energy market.

Prime Minister Pham Minh Chinh has signed Decision No. 266/QD-TTg, approving the implementation plan for the Global Coal-to-Clean Energy Transition Statement.

Vietnam is aiming for double-digit economic growth, making energy expansion essential. To achieve this, the country should create a transparent and investor-friendly environment to attract the private sector.

With much higher economic growth targets set for the future along with a strong commitment to achieve net zero emissions by the end of 2025, Vietnam is seeing growing demand for electricity.

Vietnam is making significant strides toward transforming its energy sector by fostering a competitive and sustainable market to meet the nation’s socio-economic development demands.

There is a huge potential for Việt Nam and the UK to enhance cooperation in clean energy, as both countries have set ambitious goals for carbon neutrality moving towards a sustainable future, experts have said.

Minister of Industry and Trade, Nguyen Hong Dien, highlighted the current reality: investors are hesitant and lack motivation to initiate energy projects due to uncertainty around capital recovery mechanisms for large investments in the sector.

Vietnam needs to take more drastic action to accelerate energy transition and engage with the global energy chain, moving towards carbon neutrality, a conference held by Business Forum magazine heard on Thursday.

Vietnam needs to consider the development of battery energy storage system (BESS) while the country is on a path towards promoting renewable energies to ensure energy security and sustainable development, experts have said.

Vietnam needs to develop a holistic strategy to ensure sustainable, reliable and cost-competitive gas supply, experts have said.

The recent approval for Vietnam’s eighth national power development plan (PDP8) has heated up discussions around business strategies of energy giants in the race to gain advantages in energy transition towards the country’s net-zero goals.

Standard Chartered and the US Agency for International Development (USAID) have signed a Memorandum of Understanding (MoU) on green financing in Vietnam and to promote the deployment of advanced clean energy in Vietnam.

Finnish businesses desire to expand investment cooperation activities in the Vietnamese market across multiple fields, especially the energy sector.

Prime Minister Pham Minh Chinh has issued a decision establishing the State Steering Committee for critical national energy programs, projects, and initiatives.

Deputy Prime Minister Tran Hong Ha has freshly signed a decision to approve the national energy master plan for the 2021-2030 period, with a vision to 2050.

The MoIT has raised concerns over 14 solar projects in the central province of Ninh Thuan that are believed to be unjustly benefiting from preferential tariffs.

Vietnam will prioritise foundation industries, supporting industries, and materials for export industries.

The Vietnamese industrial sector may need to reevaluate in order to minimise the effect of rising power costs.