National Assembly approves energy policy framework through 2030

National Assembly approves energy policy framework through 2030

The National Assembly on Thursday approved sweeping energy reforms with 89.64 per cent support, streamlining offshore wind approvals and expanding power market access.

Deputies vote on the 2026–30 national energy development resolution at the 10th session of the 15th National Assembly in Hà Nội on Thursday. — Photo quochoi.vn

Việt Nam's National Assembly on Thursday passed a resolution outlining mechanisms and policies for national energy development from 2026 to 2030, with 89.64 per cent of lawmakers voting in favour of the 16-article framework.

The vote saw 424 out of 436 deputies support the resolution during the 10th session of the 15th National Assembly, chaired by Vice Chairman Vũ Hồng Thanh. The legislation aims to address the Southeast Asian nation's growing power demands amid rapid economic expansion and its carbon neutrality goals by 2050.

Minister of Industry and Trade Nguyễn Hồng Diên presented the final draft, which incorporates feedback from parliamentary committees and delegates. Key provisions include maintaining the overall installed capacity targets for each power source type while allowing adjustments to meet practical requirements.

The resolution grants the Prime Minister authority to approve investment policies and select investors for offshore wind projects during 2025-30 without land-use auctions or investor bidding processes. For the 2031-35 period, provincial-level People's Committee chairmen will handle project approvals, marking a decentralisation of authority.

Market reforms

The framework expands participation in Direct Power Purchase Agreements (DPPA) to include retail electricity units, broadening the scope beyond the current limited participant base. The Government emphasised avoiding policy duplication with related legislation under consideration, including the National Reserve Law and amended Public Debt Management Law.

To prevent regulatory gaps, the Government pledged to issue comprehensive guidance documents ensuring clear, synchronised implementation. Specific requirements, including financial capacity criteria for offshore wind investors and procedures for small modular nuclear reactor development, will be detailed in Government decrees.

The resolution aligns with the Government’s directives on economic development and aims to support double-digit economic growth while securing energy independence. Officials stressed the need for transparency and timely reporting on implementation challenges.

The Government will coordinate with ministries and local authorities to accelerate power source and grid projects while advancing market mechanism reforms to attract investment in the energy sector. 

Bizhub