Energy development must go hand-in-hand with economic growth: Insiders

Vietnam needs to develop its energy sector in tandem with economic development, thereby constructing appropriate strategies to promote sustainable development and ensure national energy security, said insiders.

Resolution No. 55-NQ/TW dated February 11, 2020, by the Politburo on orientations for the national energy development strategy by 2030, with a vision to 2045, emphasises the priority of rapid and sustainable energy development linked to protecting the environment, and ensuring national defence and security, and social progress and justice.

Vietnam witnessed an average increase of 6.8% in energy consumption per year during 2016 - 2020. The proportion of electricity consumption in the total energy consumption increased to 28.4% in 2020 from 25.7% in 2015.

National Power Development Plan VIII forecasts that commercial electricity will maintain a yearly increase of about 8.7% in the 2021 - 2030 period, with electricity production expected to reach about 378.3 billion kWh by 2025 and 567 billion kWh by 2030.

Notably, Vietnam's economic development still relies mainly on industries that consume a lot of energy while the efficiency of energy use in general and electricity in particular is lower than other countries in the region and the world.

Hoang Viet Dung from the Energy Efficiency and Sustainable Development Department under the Ministry of Industry and Trade underlined the need to strengthen international cooperation and science and technology research, as well as increase technical and financial support in order to promote investment, production and business projects that use energy economically and effectively.

Meanwhile, Vuong Quoc Thang, a full-time member of the National Assembly's Science, Technology and Environment Committee, mentioned international experience in ensuring energy security, saying that countries pay heed to diversifying supply sources, promoting energy autonomy, and tapping the potential of renewable energy sources.

Vietnam’s electricity industry should expand safe and effective exploitation of wind and solar energy sources, he said.

To foster the development of renewable energy, attention should be paid to developing a legal framework, infrastructure, investment capital, human resources, technology, and stable operation, he added.

Experts said that Vietnam needs to focus on researching and developing energy sources of electricity, oil and gas, new and renewable energy, especially encouraging and facilitating the development of clean energy sources such as solar and hydrogen energy.

They underlined the importance to promote a competitive and transparent energy market and universal energy access, improve the quality of energy supply, and support services at prices suitable for the ability of almost people in accordance with market mechanisms./.