Vietnam boosts diversification of energy resources: PM

Vietnam has accelerated the diversification of energy resources, with a focus on clean and renewable energy, Prime Minister Pham Minh Chinh said in a recorded speech at the 4th Russian Energy Week that is taking place in Moscow from October 13-15.

As a country experiencing high economic growth in ASEAN and hit hard by climate change, Vietnam has been aware of the significance of energy restructuring, towards raising the ratio of renewable energy in tandem with the economical, efficient and sustainable use of energy.

Vietnam is drawing up a planning scheme on national electricity development for 2021-2030 with a vision towards 2045, which sets three major orientations in energy restructuring.

Accordingly, the country will step up the diversification of energy resources. To that end, it has issued many mechanisms promoting the development of wind, solar and biomass power, as well as electricity from solid waste.

Vietnam has also reduced coal thermal electricity production, while boosting the development of gas-fired thermal power.

In an effort to economically and effectively use energy, the country has rolled out the National Energy Efficiency Programme for 2019-2030, the PM said.

For the Vietnam-Russia ties, PM Chinh said Vietnam always treasures the traditional friendship, covering cooperation in energy that has borne fruit over the past decades.

Oil and gas collaboration is an important pillar of the Vietnam-Russia comprehensive strategic partnership, he affirmed.

Vietnam will further consolidate its institutions, policies and laws to support the energy sector, promote public-private partnership, and create optimal conditions for enterprises from Russia and other countries to operate in energy in Vietnam, the PM affirmed.

PM Chinh’s speech has been appreciated by other delegates at the event.

Initiated by the Russian Government in 2017, the Russian Energy Week is an important event in the energy sector, which serves as a platform for discussions on development and international cooperation in energy. It brings together leaders from many countries, international organisations and major businesses in energy.