WNAM MONITORING: As energy is the lifeblood of the economy and a pillar of national defense and security, the Politburo recently issued Resolution 70 on ensuring national energy security through 2030, with a vision to 2045. This strategic step will meet the demands of Vietnam’s newly accelerated industrialization and modernization.
Resolution 70 has been adopted with the world facing an energy crisis, climate change, sharp geopolitical competition, and shifting global supply chains. For Vietnam, a fast-growing economy with surging energy needs, ensuring energy security is a prerequisite for sustainable development and for strengthening its international standing.
Breakthrough directions
Resolution 70 sets out several breakthrough directions, most notably bold institutional reforms. It overhauls policies and state management – from improving the legal framework and building a competitive electricity market to ensuring transparent pricing.
Nguyen Thanh Nghi, Head of the Party Central Committee’s Policy and Strategy Commission, said: “Fine-tuning institutional and policy frameworks would create a competitive advantage, a firm foundation, and a powerful driver for energy development. The resolution calls for removing regulatory bottlenecks, creating mechanisms to attract and implement needed energy projects, and improving financial policies to mobilize private and foreign investment capital.”
In addition to institutional reform, the resolution stresses expanding the private sector’s role, diversifying energy sources, increasing the share of clean energy and nuclear power, modernizing the power grid and energy infrastructure, reducing import dependence, and safeguarding supply security.
Resolution 70 aims to ensure sufficient electricity for growth and lay the groundwork for a comprehensive energy transition. A key shift is moving from a mindset of “ensuring supply” to one of “proactively and firmly safeguarding energy security.”
Economist Dr. Giang Chan Tay said: “The resolution sets targets for renewables to account for 25–30% of total energy and requires domestic refineries to meet at least 70% of local petroleum demand. This is a significant turning point in ensuring energy security, that shifts from ensuring supply to being firm and proactive in ensuring energy supply. The Resolution also prioritizes clean energy and emissions reduction while ensuring coordinated progress in institutions, financing, technology, human resources, and transparent markets.”
Vietnam determined to implement a new strategy
To translate Resolution 70 into concrete actions and make the new energy security strategy a driving force for fast and sustainable development, Party General Secretary To Lam, at the 50th anniversary ceremony of the Vietnam National Industry-Energy Group (PetroVietnam) on Sunday, said the company must lead efforts to ensure national energy security, and play a central role in supplying essential energy.
Major power projects including gas-fired plants, pumped-storage hydropower, and renewable facilities are being built. The national transmission grid is being expanded and upgraded. The government has ordered increased imports of coal and LNG to ensure sufficient electricity.
At the same time, Vietnam is accelerating its renewable energy drive, ranking among the regional leaders in solar and wind capacity. Offshore wind and green hydrogen projects are in preparation, and a new Direct Power Purchase Agreement (DPPA) mechanism has been introduced to facilitate corporate use of clean energy.
Together, these efforts underscore Vietnam’s determination to build a modern, green, and sustainable energy system, realizing its aspirations for a prosperous future.
