Draft revision of the Vietnam Electricity Law mentions the development of offshore wind and nuclear energy.(Photo: iStock)
The Ministry of Industry and Trade (MoIT) of Vietnam recently proposed a draft revision of the Electricity Law, which is expected to attract investments ranging from $70 to $80 billion USD.
The revision aims to address the shortcomings of the current law and includes development frameworks for emerging sectors such as offshore wind power and nuclear energy. The draft has been submitted to the National Assembly for review and is expected to be passed this legislative session.
Vietnamese government accelerates energy transition
The Ministry of Industry and Trade argues that with a significant increase in national electricity generation capacity, and considering that the development and construction of power plants typically takes 3 to 5 years, it is necessary to quickly enact new laws to promote policies and organizational development. These laws will serve as a foundation for planning and integrating new energy sources into the national grid.
