Vietnam is undertaking significant adjustments to its Electricity Grid VIII plan, which authorities have deemed as particularly urgent to secure adequate electricity supply for the country's upcoming phase of development. On February 23, 2025, Deputy Prime Minister Bui Thanh Son chaired an online conference at the government headquarters, which included participation from Minister of Industry and Trade Nguyen Hong Dien and representatives from all 63 provinces.
The meeting aimed to address the pressing need for reliable electricity as Vietnam continues its rapid economic growth. Deputy Prime Minister Son emphasized, "Adjusting the Electricity Grid VIII is considered particularly urgent to quickly find solutions to provide sufficient electricity for the country's accelerating development phase," highlighting the scale of the task at hand.
During the conference, the leaders discussed various new approaches to energy source development. These included enhancing thermal power capabilities and introducing advanced nuclear technology as a foundational power source. The plan aims, among other things, to achieve net-zero emissions by 2050 by maximizing renewable energy sources based on regional potentials and integrating smart grid technology to improve reliability and service quality.
Minister Nguyen Hong Dien also noted how local areas are stressing the importance of developing electricity resources and exploring renewable energy potential. This is particularly relevant for those areas constructing new economic zones and industrial parks, like Hai Phong and Da Nang, where electricity demand is expected to rise significantly.
The Minister shared, "Localities have emphasized the necessity of adjusting Electricity Grid VIII and proposed approaches to effectively leverage existing potential, especially solar and wind energy." This reflects the growing recognition of renewable energy’s role within Vietnam's overall energy strategy.
To kickstart development, the Ministry of Industry and Trade has recommended rapidly compiling lists of urgent energy projects slated for the 2026-2030 timeframe, alongside mechanisms to encourage investments particularly for solar and wind energy projects, especially within northern Vietnam.
Officials acknowledged the anticipated increase in electricity consumption over the coming years due to the construction of multiple economic and data center projects. The aim is to build on the feedback provided by local governments and holistically assess energy services to match the growing demand.
Phó Thủ tướng Bùi Thanh Sơn pointed out the importance of ensuring investment procedures are streamlined and regulations adjusted to facilitate quicker approvals for promising energy projects. "The side benefits of fostering collaboration with private enterprises and local industries must be pursued to reflect balanced interests and regional requirements," he remarked.
The government also noted the magnitude of the financial challenge, with projections stating the electric sector requires approximately $27 billion annually between 2026 and 2030. This necessitates significant innovative financing strategies to meet anticipated investment needs.
"Localities should be proactive and engaged during the planning and execution of the adjusted Electricity Grid VIII to guarantee implementation aligns with the national strategy," emphasized Deputy Prime Minister Son.
Emphasizing the need for speed, he encouraged development of alternative energy sources to quickly enter service and the adoption of advanced storage systems and flexible sources of power generation. He directed the Ministry of Industry and Trade to continually refine policies, ensuring electricity conservation measures are integrated throughout the adjustment process.
Overall, the adjustments to Electricity Grid VIII reflect Vietnam's proactive stance on energy management, highlighting the urgent need to meet growing energy demands effectively and sustainably. Effective collaboration and investment at all levels will be required to achieve these ambitious energy objectives as the country sets its course toward significant growth and sustainability.