Speaking at a conference held on September 4 to implement Resolution 70-NQ/TW of the Politburo on national energy security through 2030 with a vision to 2045, Trinh Duc Duy, Deputy Director of the Petroleum and Coal Department, stated that after five years of implementing Resolution 55, the energy sector has maintained steady growth, largely ensuring national energy security. This progress has met the increasing demands of rapid and sustainable development, national defense and security, and improved living standards.

However, many limitations remain. Several issues identified in Resolution 55 have yet to be fully resolved, and many targets remain difficult to achieve.

One major issue is the underdeveloped competitive energy market, which lacks integration between sub-sectors - particularly the electricity market. Existing energy pricing policies are still inconsistent with market mechanisms, and cross-subsidies between customer groups persist.

Nguyen Anh Tuan, General Director of EVN, noted that Resolution 70 offers comprehensive directions, providing a foundation for government agencies, state-owned corporations, and energy companies to develop detailed action plans.

"At EVN, we have already assigned relevant departments to draft concrete programs and action plans aligned with Resolution 70’s directives, especially regarding the improvement of pricing mechanisms and policy frameworks," he said.

Tuan emphasized the urgency of introducing the two-component pricing model. If properly implemented, it would resolve price disparities between different electricity buyers, promoting transparency and fairness.

He also stressed the need for a mechanism to mobilize power sources that align with energy security goals - prioritizing base-load sources like coal and gas, and encouraging renewable energy projects to invest in storage systems, ensuring their transparent and equitable participation in the electricity market.

Phan Tu Giang, Deputy General Director of Petrovietnam, noted that Resolution 70 marks a significant evolution from Resolution 55, with more open mechanisms that facilitate energy investment and governance.

“We are currently working on action plans to embody the spirit of this resolution, ensuring that our development strategy aligns with national energy security goals,” said Giang.

However, Giang also urged the Ministry of Industry and Trade to continue advising the government and National Assembly on the institutionalization of Resolution 70. He emphasized this as an urgent task.

At the event, Deputy Minister of Industry and Trade Nguyen Hoang Long underlined that Resolution 70 serves as a vital roadmap for Vietnam’s energy development. While Resolution 55 laid the strategic groundwork and received widespread acclaim, Resolution 70 takes it a step further with more detailed, practical, and responsive guidance that addresses urgent industry challenges.

According to Long, the resolution is just the beginning. The real challenge lies in its implementation. He described the current phase as one requiring decisive action, creativity, and a "do it now" mindset. "We can no longer proceed incrementally. By 2025, we must overcome policy and regulatory bottlenecks," he concluded.

Tam An