Vietnam needs another 5,000 MW in power plant capacity by 2025, which will cost it around $7-10 billion each year.
“We need policies to mobilize all resources, domestic and foreign, for energy development,” Deputy Prime Minister Trinh Dinh Dung said Wednesday at the Vietnam Energy Summit 2020.
The government will amend laws on electricity, oil and gas as well as enact new regulations on renewable energy to develop specialized mechanisms encouraging investment in development of electricity generation and transmission systems, he said.
Nguyen Van Binh, head of the Party’s Central Economic Commission, said it was crucial that Vietnam creates favorable conditions for private enterprises to invest in energy development, including transmission.