Technology and policy thinking determine Vietnam's energy future

From policy thinking to 'barriers' holding back investors

At the forum "Energy Technology in the New Era" on July 29 in Hanoi , experts, managers and businesses mentioned the issue of policy and institutions - a story that always has many challenges but is the foundation for creating a well-developed ecosystem in the new energy sector.

Dr. Nguyen Quan - former Minister of Science and Technology said that Vietnam needs a comprehensive approach to building science policy and must stay away from biased, short-term thinking.

To illustrate, he gave the example of nuclear power: "When approving the project in Ninh Thuan, we said we had to do it because of the power shortage. When it was time to stop, we said we didn't have much of a power shortage. Now, we find ourselves in a serious power shortage." This inconsistency, he said, shows an insufficiently long-term vision.

Similarly, the forecasted growth figures for the electricity sector also need to be re-evaluated. "International experience shows that electricity growth must be almost double GDP growth. The target of double-digit economic growth requires that the electricity sector cannot grow by only 10%," Mr. Quan analyzed.

Dr. Nguyen Quan - former Minister of Science & Technology.

From there, the former Minister of Science and Technology emphasized the importance of the "three-party" connection: State - Scientists - Enterprises. Policies are only truly effective when there is extensive consultation from experts and those directly implementing them.

Continuing the policy story, Ms. Nguyen Phuong Mai - Deputy Director of Chau Anh Investment and Development Company, an energy project consultant with 20 years of experience at the Ministry of Industry and Trade, pointed out the three biggest obstacles that are holding back investment capital flows into the energy transition process in Vietnam.

Firstly, policy implementation is still weak. "We have orientation, planning, mechanisms, and laws. We have everything, but implementation is still stuck," Ms. Mai commented.

Second, local management capacity has not kept up. When decentralized, many localities lack multidisciplinary expertise (technology, finance, law) to appraise complex projects, and even have difficulty communicating with foreign investors.

Third, the stability of the macro economy, especially exchange rate risks. When the electricity price framework is calculated in VND without a foreign currency reference mechanism, it is difficult for international investors to calculate the long-term efficiency of the project.

Technology "knocks on the door", businesses proactively take the lead

While policy bottlenecks remain, clean energy technology solutions are ready to be deployed.

Mr. Tran Khanh Viet Dung - Director of HDF Energy in Vietnam said that hydrogen is a feasible and effective energy solution. For example, HDF has proposed a green power project for Phu Quy Island, using wind and solar power combined with fuel cells and hydrogen to ensure 24/7 power supply at a cost only half that of current diesel power. The company is also studying the conversion of locomotives from diesel to hydrogen.

From this reality, Mr. Dung suggested: "Hydro is a new field, so Vietnam needs to soon complete a synchronous legal corridor, with a clear roadmap from the central to local levels on planning, land, power purchase contracts, etc. to create favorable conditions for investors."

Meanwhile, Mr. Kim Gyeng Chul - General Director of VINA Tech, Enersol emphasized the role of supercapacitor technology and hydrogen fuel cells.

Speakers participated in the discussion at the forum "Energy technology in the new era".

According to Mr. Kim Gyeng Chul, the use of supercapacitor and hydrogen fuel cell technology will pave the way for energy transition in Vietnam.

“Not only do they play a role in improving efficiency in storage and power generation, they are also shaping the future of strategic industries such as transportation, renewable energy and smart electronics,” the expert emphasized.

Affirming that supercapacitor and fuel cell technology are now ready to accompany Vietnam in the process of stabilizing the national power system and moving towards a clean, sustainable and independent energy future, the General Director of VINA Tech emphasized the message "True freedom and happiness come from independence in technology".

Faced with urgent market demands, many domestic enterprises have proactively invested in core technologies. Ms. Nguyen Thi Thanh Binh - Deputy General Director of T&T Group said that renewable energy needs to go hand in hand with storage systems to ensure stability.

"With the goal of installing more than 60,000 MW of new solar power by 2035, Vietnam will need at least 10% of accompanying storage batteries. Realizing this opportunity, T&T Group has cooperated with the world's leading partners to invest in a storage battery factory, mastering core 'battery cell' technology," Ms. Binh shared.

Mr. Nguyen Hoang Kien - Deputy General Director of Rang Dong Light Source and Vacuum Flask JSC said that green products are not enough but need "green solutions" based on core IoT and AI technology.

"We create smart control solutions for buildings: smart lighting, smart electrical equipment control, energy monitoring, renewable energy monitoring and security. All are integrated on a single platform, which we call "One App, One Tap", meaning that only one application is needed to monitor and control everything. The goal is a more comfortable life, not turning off devices but using energy efficiently," Mr. Kien shared.

However, both Dr. Nguyen Quan and Ms. Nguyen Thi Thanh Binh pointed out a common bottleneck: high-quality human resources. The boom period of 2019-2021 witnessed a "crisis" of human resources, when projects had to "fight" for people from each other.

"We rarely recruit new graduates, but have to look for experienced people who can 'join the game' right away. T&T Group is very willing to cooperate with universities to be able to 'order' training, providing really good personnel for the market," Ms. Binh emphasized.

This is also the solution to the problem of "human is the leading factor" that Dr. Nguyen Quan mentioned in the story of nuclear power development in Vietnam.

It can be seen that the journey towards a sustainable energy system requires a dual revolution: a revolution in policy thinking and a revolution in the application of technology. The solution will only come when institutional "bottlenecks" are removed, creating a transparent, practical and long-term investment environment.

Moonlight

Source: https://doanhnghiepvn.vn/cong-nghe/cong-nghe-va-tu-duy-chinh-sach-quyet-dinh-tuong-lai-nang-luong-viet-nam/20250729060405069

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