Vietnam Economic Times August 17 2026

Dear readers,

Under both Politburo Resolution No. 70-NQ/TW on national energy security by 2030, with a vision to 2045, signed by Party General Secretary and State President To Lam on August 20, 2025, and the National Energy Development Strategy, approved by the Prime Minister in Decision No. 215/QD-TTg dated March 1, 2024, primary energy supply is set to reach 150-170 million tons of oil equivalent (TOE) by 2030, and then 260-280 million TOE by 2045.

This goal is aimed at meeting energy demand for the construction and defense of the homeland in the new development era, with the immediate objective of serving the goal of annual double-digit economic growth during the 2026-2030 period, as outlined in the Resolution from the 14th National Party Congress and reaffirmed in Resolution No. 19-NQ/TW on a new national development model, adopted by the third plenum of the 14th Party Central Committee.

Accordingly, energy security must be a prerequisite for achieving socio-economic goals under the new development model, which is based on productivity, knowledge, technology, and human resources.

Moreover, in the context of the world entering a new energy transition cycle, and the strong increase in electricity demand resulting from the “explosive” development of data centers and high-tech industries in general and AI technology in particular, energy is no longer merely an economic sector but has become an integral part of national competitiveness.

Thus, developing a competitive and sustainable energy sector not only aims to ensure energy security to meet socio-economic development requirements but also contributes to enhancing national competitiveness.

However, the national energy sector still faces many difficulties and challenges. Traditional oil and gas resources are tending to decline and many energy projects are slow to be implemented, the legal system, mechanisms, and policies are still lacking synchronization, and some regulations have not kept pace with practical requirements and are continuing to be researched and amended.

To harness the potential of the country’s energy sector, including new energy, and turn this potential into a competitive advantage, a host of solutions are needed, among which creating a suitable institutional system is one of the most important.

A forum with the theme “Enhancing Policy Frameworks to Build Competitive Advantage for Energy Development,” organized by Tap chi Kinh te Viet Nam / Vietnam Economic Times / VnEconomy on August 11, focused on clarifying policy-making issues relating to national energy development in the new phase, with a common view that institutional reforms must precede investment. Meanwhile, the draft revised Law on Petroleum, submitted by the government to the National Assembly on July 19, is an important reform step, not only resolving specific obstacles for the oil and gas sector but also expected to pave the way for a new energy strategy for Vietnam, linking oil and gas with renewable energy. Additionally, many other policy proposals were also discussed, aimed at creating a suitable institutional framework and a competitive investment environment for developing the energy sector, thus serving as a foundation to ensure energy security and sustainable energy growth.

To provide readers with the latest information on policy solutions to create competitive advantages for the energy sector’s rapid and sustainable development, in the context of the world entering a new energy transition cycle, thus meeting the socio-economic development requirements from the new development model approved by the third plenum of the 14th Party Central Committee, our Cover Story in this edition focuses on the outcomes of the aforementioned forum.

Warmest regards

Dr. CHU VAN LAM
CHAIRMAN OF THE EDITORIAL BOARD