26th July 2023

Deputy Prime Minister Tran Hong Ha signed Decision No. 893/QD-TTg approving the National Energy Master Plan for the period 2021 - 2030, with a vision to 2050.

The contents include:

The successful implementation of energy transformation makes a significant contribution to meeting the target of "zero" net emissions by 2050. The energy industry develops harmoniously among sub-sectors with synchronous and intelligent infrastructure, reaching a high level. Advanced in the region, in line with the world's scientific and technological development trends.

Developing an independent and self-sufficient energy industry; forming an overall energy industry ecosystem based on renewable energy and new energy, aiming to become a clean energy industry center and renewable energy export of the region.

To raise the total petroleum reserve of the country (including crude oil and products) to 75 - 80 days of net import by 2030. Orientation after 2030: Consider gradually increasing the reserve level to 90 days of net import.

Regarding the Just Energy Transition, the Master Plan sets a target for the proportion of renewable energy in total primary energy to be 15-20% by 2030 and approximately 80-85% by 2050.

Energy saving is about 8-10% in 2030 and about 15-20% in 2050 compared to the typical development scenario.

GHG emissions are about 399 - 449 million tons by 2030 and about 101 million tons by 2050. The target to reduce greenhouse gas emissions by 17-26% by 2030 is about 90% by 2050 compared to the typical development scenario. Towards peak emissions by 2030, provided commitments under JETP are fully and substantively implemented by international partners.

At the same time, focus on developing the energy industry to become a center for clean energy and exporting renewable energy in the region, as well as forming and developing renewable energy centers in various regions and areas. Localities with advantages: Striving to 2030, creating and producing several clean energy centers, including energy production and use, renewable energy equipment manufacturing industry, oil and gas processing, construction, installation, and related services in the North, South Central, and South when favorable conditions are available. Developing new energy production to serve domestic and export demand. By 2030, the capacity for green hydrogen production is expected to be around 100-200 thousand tons per year. By 2050, the scale of green hydrogen production capacity is expected to be around 10-20 million tons per year.

Six solutions to implement the Energy Planning:

1. Solutions on mobilizing and allocating investment capital;

2. Solutions on mechanisms and policies;

3. Solutions on environment, science, and technology;

4. Solutions on human resource development;

5. Solutions on international cooperation;

6. Solutions for organizing the implementation and monitoring the implementation of the plan;

Full docs to download.