Vietnam imported nearly 2.39 million tonnes of liquefied gas, worth over US$1.54 billion, during the opening nine months of the year, up 24.73% in volume and 33.79% in value against the same period from last year.

Having been in effect for nearly 20 years, with four previous amendments, the law still faces challenges that the current provisions have yet to fully address.

Looking at what is happening with solar and wind power today, one would think that the goal of using renewable energy as the pillar of the power system in Vietnam is too ambitious.

As Vietnam positions itself for future energy sustainability, the Ministry of Industry and Trade has been tasked with exploring nuclear power developments worldwide.

The Ministry of Industry and Trade has proposed increasing the development of solar power and exploring the feasibility of small modular nuclear reactors, including floating nuclear power plants, to address potential power shortages.

As one of the countries most severely affected by climate change, Vietnam has been making great efforts to cope with climate change and pursue sustainable green development.

In a significant development, 154 solar power projects slated for inclusion in Vietnam's Power Development Plan VIII face delays pending the outcome of a governmental investigation.

Deputy Prime Minister Tran Hong Ha on August 13 stressed the significance of consistency in the technical approach as well as economic efficacy while developing a decree on mechanisms and policies to develop rooftop solar power.

Prime Minister Pham Minh Chinh has requested ministries, sectors, agencies, and localities to shorten timelines to complete the 500kV circuit-3 power transmission line project by September 2 to celebrate the 79th anniversary of the National Day.

Vietnam aims to develop 6,000 MW of offshore wind power by 2030, and 70,000 - 91,500 MW by 2050.

With enormous potential for solar power, onshore and offshore wind power, Vietnam is well positioned to transform its energy sector from fossil fuels to renewable energy and leverage its national resources.

The government of Vietnam needs to set renewables prices at reasonable levels that can benefit investors, EVN and consumers, experts say.

The share of wind power is targeted to increase significantly, from 5 per cent in 2022 to 19 per cent by 2030 and 29 per cent by 2050.

The Ministry of Industry and Trade (MOIT) has been consistent in its view that the major goal of rooftop solar power is self-sufficiency for users, not sales for profit.

In a significant move towards regulating energy initiatives, the Red River Delta and Southeast regions face a new mandate: they must seek approval from the National Assembly to pursue rooftop solar power projects.

Experts believe that use of LNG (liquefied natural gas) will continue, but Vietnam still doesn’t have a legal framework on LNG import and business.

Vietnam has set a target of having 50 per cent of its office and residential buildings equipped with solar panels by 2030, that is in the National Power Plan VIII.

Deputy Prime Minister Tran Hong Ha signed Decision 338/QD-TTg, dated April 24, approving a plan to implement the National Power Development Master Plan for the period of 2021 - 2030, with a vision to 2050 (Master Plan VIII).

The total investment capital demand for the whole energy sector in the 2021-2030 period is between 163.01-189.46 million USD, according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.