In brief

The government of Vietnam recently issued Resolution No. 140/NQ-CP1 promulgating the government’s action program (“Government’s Action Program“) to implement Resolution No. 55-NQ/TW of the Politburo on the orientation of the National Energy Development Strategy to 2030, with a vision to 2045 (“Resolution No. 55“). The Government’s Action Program highlights, among others, the specific tasks and responsibilities of state management agencies of Vietnam to implement the general and specific objectives of the energy development as earlier set forth in Resolution No. 55.

Resolution No. 140 also sets out a list of key specific laws, regulations, programs, projects and master plans required to be prepared and issued in the next 10 years for implementing the Government’s Auction Program with specific agenda items for 2021.

While certain key legal frameworks for the energy sector are in progress and require final approval as soon as possible, this list indicates a roadmap for how the government of Vietnam will design the energy sector in the next five to 10 years with specific starting items for 2021. The list also covers a wide range of topics, from different sources of renewable energy, oil and gas, and coal, to energy efficiency, climate change and greenhouse gas emissions reduction.

Notably, in addition to upcoming legal mechanisms (e.g., new PDP8, energy master plan, pilot corporate virtual/synthetic DPPA program, solar/renewable energy auction/bidding mechanism, revised FiTs for wind farms), from the Government’s Action Program, there are some other key legal frameworks to watch in 2021, including:

  • mechanisms for developing offshore wind power in line with the implementation of the Vietnam Sea Strategy
  • mechanisms to encourage the development of renewable energy for self-consumption (with priority for rooftop solar power)
  • mechanisms for developing floating solar power
  • mechanisms for biogas power development
  • a comprehensive Law on Renewable Energy to be studied/drafted
  • proposed amendments to the Electricity Law in the period 2021-2022
If you would like to further discuss details of the Government’s Action Program or the short- and long-term priorities of the energy sector in Vietnam, please do not hesitate to contact us.

1 Resolution No. 140/NQ-CP dated 2 October 2020 promulgating the Government’s Action Program for implementing Resolution No. 55-NQ/TW dated 11 February 2020 of the Politburo regarding the orientations of the Vietnam National Energy Development Strategy to 2030, with a vision to 2045 (“Resolution No. 140“).

Previous articleUnited States: Treasury and the IRS release long-anticipated Section 45Q final regulations
Next articleUnited Kingdom: A review of HMT’s proposed cryptoassets regime – and how it compares to MiCA