At a conference held on the morning of September 16 to implement four resolutions of the Politburo, Nguyen Thanh Nghi, Head of the Central Committee for Policy and Strategy, presented a keynote report on Resolution No. 70 regarding national energy security through 2030 with a vision to 2045, and its corresponding action program.

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Nguyen Thanh Nghi, Head of the Central Committee for Policy and Strategy, presents the core contents of Resolution No. 70.

Nguyen Thanh Nghi emphasized that Resolution No. 70 sets forth the imperative to ensure national energy security as a core pillar in the new development era - one of the most critical components of emerging non-traditional security. The resolution adheres to the principle that "energy development must align with the socialist-oriented market economy."

Accordingly, the resolution advocates for building a synchronized, competitive, transparent energy market; eliminating cross-subsidization; adjusting energy prices based on market mechanisms under state management; and strongly encouraging economic sectors - particularly the private sector - to fully participate in energy development.

Resolution No. 70 outlines five guiding viewpoints, several target groups through 2030 with a vision to 2045, and seven major groups of tasks and solutions.

Key guiding principles include the development of a synchronized, competitive, transparent energy market with diverse ownership and business models; setting energy prices through market mechanisms without cross-subsidizing customer groups; and encouraging broad participation of private enterprises in the development of energy projects, ensuring equal competition.

Another principle involves the application of science, technology, innovation, and digital transformation as breakthrough tools to ensure energy security. The resolution emphasizes mastering modern technology, gradually localizing and independently producing the majority of energy equipment for domestic needs and export.

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Illustrative image - Photo: Hoang Giam

Nguyen Thanh Nghi noted that the resolution includes seven major task groups and solutions:

These include improving the institutional and policy frameworks to become competitive advantages and solid foundations for energy development; removing institutional bottlenecks for energy projects; creating exceptional mechanisms to attract and execute critical and urgent energy projects; and refining financial policies to maximize private and foreign investment in the energy sector.

Additionally, it calls for flexible and effective credit policy reform, prioritizing green, clean energy projects and domestic energy equipment production systems. Tax policy must be enhanced to encourage clean and renewable energy production and usage, including support for rooftop solar power, self-consumption, energy storage, and recovery; developing waste-to-energy systems; and promoting low-carbon and carbon-neutral technologies.

The resolution also stresses the need to complete a synchronized and transparent energy market with interconnected sub-sectors. Energy pricing must be transparent and market-driven under state oversight, without cross-subsidies. The government will regulate through market instruments and maintain social welfare policies. Administrative procedures must be radically reformed, reducing compliance time and costs by 30-50%.

Regarding the competitive electricity market, Nguyen Thanh Nghi highlighted that the resolution clearly calls for developing a transparent, efficient, and synchronized competitive electricity market aligned with energy security goals. It also promotes direct electricity trading mechanisms and enhances customer rights in choosing their electricity providers. Furthermore, it mandates the establishment of transparent, stable, and long-term power purchase agreements (PPAs) that protect the legitimate rights and interests of investors.

The resolution encourages private investment in energy storage infrastructure and revising the transmission pricing mechanism to attract significant private sector investment in power grid systems.

Another important aspect is the push for breakthroughs in high-quality human resources. Nguyen Thanh Nghi emphasized the implementation of scientific and technological programs that connect scientists, training institutions, and enterprises in the energy field. A key objective is to develop a high-quality workforce in energy, designating the sector as a national priority in education. The plan includes training 25,000-35,000 engineers and experts in energy, with special focus on nuclear energy. It also aims to attract both domestic and international experts in nuclear, renewable, and new energy fields.

Tran Thuong