Deputy Prime Minister Trinh Dinh Dung chaired a meeting on May 11 with ministries and departments to discuss appropriate mechanisms and incentives to develop solar energy.

He assigned the Ministry of Industry and Trade (MoIT) to gather comments from other ministries and sectors and then prepare a draft decision from the Prime Minister stipulating the support mechanisms for the sector’s development.

He also noted the importance of consulting other countries in creating relevant legislation.

MoIT was also asked to identify regions to be targeted for solar energy development.

The draft Prime Ministerial decision is expected to clarify investment procedures and power price subsidies in the building of solar energy facilities.

MoIT has calculated that preferential policies would help raise solar energy output to 0.5 per cent of the market by 2020, 5 per cent by 2030, and 20 per cent by 2050. The amount of imported coal would then fall by around 7.6 million tons and 70 million tons in 2030 and 2050, respectively.