Identifying challenges and solutions for Vietnam in reshaping the global energy supply chain

10/18/2024 09:09

(PLVN) - On the morning of October 17, in Hanoi , Business Forum Magazine hosted the Forum: "Reshaping the global energy supply chain: Identifying trends, challenges and solutions for Vietnam".

At the Forum, Mr. Hoang Quang Phong - Vice President of the Vietnam Federation of Commerce and Industry (VCCI) emphasized that the development of renewable energy (RE) in Vietnam has recorded significant progress, thanks to the State's incentive mechanisms and policies...

According to the Power Development Plan VIII scenario, Vietnam plans to shift its energy mix from coal and fuel to electricity and other low-emission energy sources. Gas consumption is also forecast to increase in the medium and long term. The long-term goal of the strategy is to develop a roadmap for LNG power plants to transition to incorporating hydrogen into their power generation mix.

Mr. Hoang Quang Phong, Vice President of VCCI (photo: DDDN)

Corresponding to the development of the energy market, Vietnam has also been building a clear, long-term and predictable energy development policy as a prerequisite for a sustainable energy transition.

“The energy transition process associated with energy infrastructure development, if well implemented, will promote Vietnam to achieve synchronous economic , social and environmental development goals, meeting the country's long-term vision…” - Vice President Hoang Quang Phong emphasized.

To achieve a long-term vision, Vietnam needs to orient the implementation of a long-term carbon emission reduction development strategy and become carbon neutral by 2050 in line with the general trend in the world.

In addition to the environmental benefits, this strategy could bring Vietnam some economic and financial benefits that are superior to a high-carbon path.

However, there are still certain legal bottlenecks. “Removing policy barriers, increasing resources, and promoting science and technology development are the key to implementing a strategy to deeply reduce carbon emissions,” said the Vice President of VCCI.

The workshop attracted the participation of representatives of state agencies, experts and businesses (Photo: DDDN)

Many opinions participating in the forum also suggested solutions and recommendations to promote the development of energy sources in Vietnam such as: financial mechanisms, taxes, land lease; mechanisms for new projects; mechanisms to promote joint ventures and develop new energy supply chains...

Source: https://baophapluat.vn/nhan-dien-thach-thuc-va-giai-phap-cho-viet-nam-khi-tai-dinh-hinh-chuoi-cung-ung-nang-luong-toan-cau-post528925.html