The above statement was made by Dr. Nguyen Duc Hien, Deputy Head of the Central Economic Commission, at the 3rd Workshop on Technology Trends and Solutions for Developing Vietnam's Energy Industry in the Industrialization and Modernization Strategy to 2030, Vision to 2045 on June 14.
According to the leader of the Central Economic Committee, the Power Plan VIII has identified the goal of providing enough electricity for domestic demand, meeting the socio-economic development target with an average GDP growth rate of about 7%/year in the 2021-2030 period, about 6.5-7.5%/year in the 2031-2050 period; strongly developing renewable energy sources for electricity production, reaching a rate of about 30.9-39.2% by 2030, aiming for a renewable energy rate of 47% on the condition that the commitments under the Political Declaration establishing the Just Energy Transition Partnership (JETP) with Vietnam are fully and substantially implemented by international partners.
"By 2050, the renewable energy ratio is expected to reach 67.5-71.5%," said Mr. Hien.
However, the leader of the Central Economic Committee acknowledged that the reserves and production of coal, crude oil and gas are decreasing every year. The increasing demand for energy imports is a problem in the development of Vietnam's energy industry, because it reduces the ability to be self-sufficient in energy and increases dependence on other economies.
The development of the world energy industry in recent times shows that there is a structural shift in the energy industry with changes in policies, structures, and technologies: from production and consumption of traditional fossil fuels (coal, oil, natural gas) to sustainable renewable energy sources (wind, solar, biomass, etc.).
"Vietnam needs to focus on developing the renewable energy equipment manufacturing industry, electricity storage, carbon recovery, absorption, storage and utilization technology... domestically to proactively exploit our country's available potential, increase independence and reduce the cost of electricity production from renewable energy," the leader of the Central Economic Committee shared.
Vietnam began importing electricity from China in 2005. Electricity imports from China have continuously increased, reaching a peak of 5.6 billion kWh in 2010, accounting for 5.6% of total domestic electricity output. That was the period 2004-2010, when the North suffered from a serious electricity shortage.
Since the Son La Hydropower Plant came into operation (in 2011), along with a series of large power plants being put into operation, the North has had enough electricity.
Electricity imports from Laos began in 2016, through an intergovernmental cooperation agreement.
However, according to Deputy Minister of Industry and Trade Dang Hoang An, in recent years, the amount of electricity imported from Laos is about 7 million kWh per day and from China 4 million kWh. Compared to the electricity consumption in the North of 445-450 million kWh per day, the proportion of imported electricity is very low, accounting for only 1-1.5% of Vietnam's total electricity output.
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