Viet Nam makes commendable progress in ensuring steady power supply

On behalf of the VBF Power and Energy Working Group (PEWG), John Rockhold congratulated the Government for its effective management during the challenging and complex global political and economic climate of 2023.

According to John Rockhold, last year, the Ministry of Industry and Trade made significant progress in achieving the strategic objectives set by the Government.

Their efforts have been crucial in building a strong foundation for systematic and robust industry growth.

Key achievements include releasing the national Power Development Plan, planning for oil and gas reserves and supply infrastructure, formulating a comprehensive national energy masterplan, and securing approval for the mineral exploration, extraction, and processing plan.

"These frameworks are essential for guiding Viet Nam towards an increasingly modern and sustainable industrial sector that not only promotes national development but also aligns with the global trend towards a green economy and industry", he emphasized.

Another notable success is the collaboration between the Ministry of Industry and Trade, the Ministry of Planning and Investment, and various local governments to implement strategies that connect FDI corporations with domestic companies.

Moreover, the Ministry of Industry and Trade has prioritized support for small and micro enterprises, facilitating their growth and adaptation to the trends of the Industrial Revolution 4.0.

"We also appreciate the Government's recognition of the VBF Power and Energy Working Group as a key collaborator in the Resource Mobilization Plan for implementing the Just Energy Transition Partnership (JETP) declaration, highlighting the importance of our joint efforts towards achieving sustainable development goals", shared John Rockhold.

To sustain growth and leadership in high-tech manufacturing and digitalization, Viet Nam should accelerate its power generation sector transformation, John Rockhold recommended.

The implementation of strategic plans such as the national Power Development Plan, the development of the Decree on rooftop solar development, and the guidance on the Direct Power Purchase Agreement mechanism are pivotal, he said./.