After the implementation of several regulations and policies, the energy industry in general and the electricity industry in particular, have both simultaneously developed rapidly, while maintaining socio-economic growth, and ensuring national defense and security. However, there are still many drawbacks in resource management and exploitation, energy’s infrastructure, workforce, asynchronous development of the market, as well as the lack of environmental protection. Therefore, on 11 February 2020, the Politburo decided to issue Resolution No. 55-NQ/TW on the strategy for national energy development over the next 10 years, with a vision towards 2045 (“Resolution 55”) to overcome these shortcomings.

Resolution 55

Resolution 55 divides its objectives into overall and specific objectives, namely:

  • Overall objectives:
    • To ensure national defense and security;
    • To supply energy with high quality and reasonable pricing;
    • To protect the environment;
    • To improve infrastructure to reach the advanced level of ASEAN;
    • To exploit and manage energy resources effectively;
    • To form a competitive and transparent market.
  • Specific objectives:

i. To meet domestic energy demand: primary energy in 2030 will reach 175 – 179 million TOE (tonnes of oil equivalent); in 2045 it will reach 320 – 350 million TOE; the total capacity of power sources will reach 125 – 130 GW by 2030, while electricity output will reach 550 – 600 billion KWh.

ii. The renewable energy source in the total primary energy will reach 15 – 30% by 2030 and 25 – 20% by 2045.

iii. The total of final energy consumption by 2030 will reach 105 – 115 million TOE, by 2045 it will reach 160 – 190 million TOE. Primary energy intensity will reach 420 – 460 kgOE (kilograms of oil equivalent)/1,000 USD GDP by 2030 and 375 – 410 kgOE/1,000 USD GDP by 2045.

iv. To build an intelligent and efficient grid system which can connect regions. By 2030, Vietnam’s reliability of electricity supply will be in the top 4 countries in ASEAN and the power access index will be in the top 3 countries in ASEAN.

v. Oil refineries satisfy at least 70% of domestic demand; ensure a strategic petroleum reserve of at least 90 days of net import. Having ability to import 8 billion m3 of liquefied natural gas by 2030 and 15 billion m3 by 2045.

vi. The rate of energy saving on total energy consumption will reach 7% in 2030 and 14% in 2045.

vii. To reduce greenhouse gas emissions from energy activities by 15% in 2030 and by 20% in 2045.

In order to achieve the above objectives, Resolution 55 sets out 10 fundamental tasks and solutions:

  1. Developing primary energy sources autonomously and diversely, while ensuring efficiency, reliability and sustainability.
  2. Developing the electricity industry to satisfy the requirement of national industrialization and modernization.
  3. Restructuring energy-consuming industries while implementing policies on using clean energies sparingly and efficiently.
  4. Establishing sustainable infrastructure to connect regions; improving the internal force of the manufacturing industry and services for energy industry.
  5. Restructuring, renewing and improving the operation structure of state-owned enterprises in energy industry; encouraging private enterprises to participate in energy development.
  6. Reforming mechanisms and policies to develop the energy markets in a synchronized, inter-connected, modern and efficient manner in accordance with the Socialist orientation.
  7. Advancing in science and technology, training high qualified workforce for the energy industry.
  8. Promoting international cooperation; proactively forming strategic relationships to achieve the objective in long-term of importing energy and investing in energy resources in foreign countries.
  9. Carrying out environmental protection policies in energy industry with the objective of reducing greenhouse gas emissions and promoting a circular economy and sustainable development.
  10. Strengthening the leadership of the Party; improving the effectiveness of the State’s management; promoting the role of the Vietnamese Fatherland Front and other socio-political organizations in developing the energy industry.

These tasks and solutions will be carried out by various agencies of the Politburo, such as the Central Propaganda and Training Commission, the Central Economics Committee, the Vietnamese Fatherland Front and provincial committees, municipal committees under the Central Committee, etc. as stated in Part IV of Resolution 55.

Conclusion

Resolution 55 sets forth detailed objectives as well as tasks and solutions that are explicitly allocated to various competent agencies, which demonstrates the Politburo’s great efforts in proactively developing and improving the country’s energy industry.


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