International media highly appreciate the Electricity Law (amended) as an important step towards a sustainable energy sector for Vietnam.
Vietnam has just witnessed an important turning point in energy policy with the passing of the Electricity Law (amended) on the afternoon of November 30, with 439/463 delegates voting in favor, accounting for 91.65% of the total number of National Assembly delegates participating in the vote.
This is an important Law project, having a great impact on the economy, ensuring the country's growth and development goals as well as national energy security.
Accordingly, the Electricity Law 2024 replaces the Electricity Law dated December 3, 2004; which was amended and supplemented 4 times in 2012, 2018, 2022 and 2023 (effective from July 1, 2024) after nearly 20 years of implementation.
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| The National Assembly voted to pass the Electricity Law (amended) with a high approval rate. Photo: National Assembly |
The event immediately attracted significant international press attention, with articles from Reuters, Devdiscourse, Tribune and Canberra Times all taking a positive view, focusing on the groundbreaking reforms of the new law. While each article had a different focus, they all collectively showed the positive impact the law would have on Vietnam’s energy future.
The common thread across the articles is that the revised Electricity Law will remove barriers to investment in the energy sector. Reuters, Tribune, and Canberra Times all emphasize the need to speed up the approval process for power purchase agreements (PPAs), making it easier for investors, especially in the renewable energy sector, to negotiate directly with electricity suppliers. This is seen as key to attracting foreign investment and promoting the rapid development of clean and sustainable energy in Vietnam.
Specifically, Reuters has an article titled “Vietnam approves data, electricity law, $67 billion rail plan”, stating: “ The Electricity Law is expected to remove some barriers to investing in energy projects in Vietnam and speed up the approval process for direct power purchase agreements, allowing producers to negotiate power supplies directly with renewable energy suppliers. The measure aims to create a more comprehensive legal system for the energy sector, which is currently subject to many separate regulations ”.
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| The article is about Vietnam's newly passed Electricity Law (amended) on Reuters. Screenshot |
The articles also praised the effort to create a more comprehensive legal framework. Devdiscourse specifically highlighted that the new law would unify fragmented regulations, creating a more transparent and efficient investment environment. This is a point shared by both Reuters and Tribune, which mentioned replacing a system of disparate regulations with a more comprehensive legal system.
However, the articles also highlight challenges that need to be addressed in the future. Both Reuters and the Canberra Times mention the need for additional legislation to complete the regulatory framework for specific energy sectors such as offshore, wind and nuclear power.
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| Article on Vietnam's Electricity Law (amended) in Canberra Times. Screenshot |
“ Additional legislation will need to be approved to complete the regulatory framework for specific energy sectors such as offshore, wind and nuclear power ,” the Canberra Times noted.
From the content of the articles, it can be seen that the international press sees the Electricity Law (amended) as an important step forward for Vietnam in modernizing the electricity sector, attracting investment and promoting sustainable energy development. However, the success of this law depends on the effective implementation and continuous improvement of the legal framework in the coming time. The fact that prestigious international newspapers have paid attention and given positive reviews shows that Vietnam is on the right track in international integration and is committed to the goal of sustainable energy development.
Source: https://congthuong.vn/truyen-thong-quoc-te-noi-gi-ve-luat-dien-luc-sua-doi-moi-duoc-thong-qua-361827.html
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