Finding solutions to remove 'bottlenecks' for Vietnam's energy industry

On the morning of October 12, in Hanoi, VOV Electronic Newspaper - Voice of Vietnam in coordination with relevant units organized the forum "Prospects of Vietnam's energy industry" with the companionship of Vietnam Oil and Gas Group (PVN).

Overview of the forum "Vietnam Energy Industry Prospects".

The forum "Vietnam Energy Industry Prospects" was organized with the desire to review the results as well as the difficulties and challenges in ensuring energy security and transitioning to clean energy. At the same time, discuss the opportunities and challenges being faced, and find solutions to develop Vietnam's energy industry in the coming time.

In addition, the forum also discussed in depth issues on the trend of using LNG (liquefied natural gas) energy in the world and the current situation in Vietnam; the reality of implementing investment attraction policies in the clean energy sector in Vietnam; potential and challenges in developing renewable energy sources; proposing appropriate solutions to develop the energy sector in the coming time as well as solutions, mechanisms and policies to promote the restructuring of power sources in a suitable direction, ensuring national energy security.

Speaking at the forum, Mr. Do Tien Sy - Member of the Party Central Committee, General Director of the Voice of Vietnam - said that 2023 is considered an important milestone in the process of transforming Vietnam's energy structure, green transformation in the energy sector is gradually becoming a mainstream trend, one of the top priorities and needs today.

Vietnam is on the list of countries with great potential to invest in new renewable energy sources such as solar power, wind power, biomass power, ocean wave power and biogas, in addition to available energy sources including liquefied natural gas, hydropower and coal power.

Mr. Do Tien Sy, Member of the Party Central Committee, General Director of Voice of Vietnam Radio, spoke at the forum "Prospects of Vietnam's Energy Industry".

According to the General Director of Voice of Vietnam, in order to fully exploit its inherent potential, our country needs incentive policies to expand the renewable energy market, promote and deploy new technologies, provide appropriate opportunities, and encourage the use of renewable energy in all important areas.

With support from specific policies, renewable energy projects will have the basis to develop and attract investors, promote technology transfer to domestic enterprises, and help enterprises compete in the international market.

Mr. Do Tien Sy said that Vietnam's energy prospects have recently received much attention and debate from policy makers, managers, experts, research organizations and the media.

“In recent years, Vietnam’s energy sector has developed strongly in all stages such as exploration, exploitation, production, transmission, distribution and import and export of energy. That has contributed significantly to the process of socio-economic development.

However, the scale and efficiency of the energy sector are still low, Vietnam's energy security is not guaranteed, and the phenomenon of "electricity load shedding" occurs frequently during peak periods. The national oil reserve is not capable of stabilizing prices when an oil price crisis occurs on the international market," said General Director Do Tien Sy.

The General Director of Voice of Vietnam said that the forum "Vietnam Energy Industry Prospects" is a necessary and meaningful activity with consultations from many experts, scientists, managers and experience of businesses to discuss and exchange about the current status and potential for energy development in Vietnam in the future.

In addition, the forum also discussed and contributed additional recommendations and proposals on major policies of the Party and State to facilitate the development of new energy and renewable energy in the coming period.

Mr. Hoang Viet Dung (Department of Energy Saving and Sustainable Development, Ministry of Industry and Trade) said that domestic energy demand increased by about 10% in the period 2001 - 2010, about 7% in the period 2011 - 2019 while electricity demand increased by 13%/year in the period 2001 - 2010 and about 9.71% in the period 2011 - 2021.

Greenhouse gas emissions from the energy sector accounted for about 63% of Vietnam's total greenhouse gas emissions in 2010, about 67.7% in 2020, and will account for about 73.1% and 79.7% in 2030 and 2050 under the business-as-usual scenario.

Mr. Hoang Viet Dung predicted that in the future, primary energy sources will not meet the energy consumption needs of the economy, Vietnam will have to import primary energy to serve socio-economic development.

From the above situation, Mr. Dung said that it is necessary to review, build and perfect mechanisms, policies as well as provide technical and financial support to promote investment, production and business projects on energy saving and efficiency.

In particular, Vietnam also needs to research and build energy data centers, databases, apply information technology on energy and use energy efficiently and economically.

Ngo Nhung

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