Vietnam’s Ministry of Industry and Trade has prepared the draft law on electricity to create a conducive legal framework for ensuring the development of a synchronous, interconnected, modern and efficient power market, and national energy security.
The draft amendments aim to address issues relating to inadequate regulations for power development planning, lack of coordination among ministries, and challenges in investing in electricity in remote areas. Furthermore, the electricity pricing policy needs refinement to ensure transparency and equity while gradually eliminating cross subsidies. The amended law aims to support socio-economic development, ensure electricity supply security, and facilitate a competitive and transparent electricity market, all of which are crucial for the nation’s industrialisation and modernisation efforts.