Vietnam Energy Summit 2020: Private sector encouraged to engage in energy development
(VOVWORLD) - The Vietnam Energy Summit 2020 opened in Hanoi on Wednesday, and noted that the energy sector has grown into a large-scale industry with dynamic growth, but specific mechanisms are needed for it to develop further.
 Vietnam Energy Summit 2020 (Photo: Ha Hong Ha/ nhandan.com.vn) |
The participants said it is necessary to develop a competitive, effective and transparent energy market, create a breakthrough to shift from fossil fuels to renewable energy, and mobilize different sources to develop the national energy sector. The private sector should be encouraged to get involved in this process due to the energy industry developing in a dynamic manner. Deputy Prime Minister Trinh Dinh Dung said: “The Prime Minister has urged for the completion of a competitive power market to 2030 with a vision to 2045, with the goal of piloting the power retail market in 2022 and launching the official complete market in 2023. A fully competitive coal market will be launched in the period from 2026-2030”.