Vietnam's energy sector: A review of current energy policies and strategies

Since the introduction of market-oriented economy in 1986, Vietnam has made noticeable socio-economic progress. In this progress, the energy sector has played a vital role. This role is likely to deepen in the years to come as Vietnam strives to achieve even higher levels in economic progress. Such deepening in the role of energy, this paper argues, will heighten concerns about the security of energy supply, and economic, environmental, social and political consequences. In order to address these issues, Vietnam has over the last decade, developed a suite of energy policies. A deeper review of these policies suggests that they are typified by economic-growth orientation, exclusive focus on a single-sector or single issue, and largely neglect the significance of cross-sectoral and cross-thematic issues arising from the interdependencies between energy, economy, and the polity at large. The existing energy policy settings are, therefore, unlikely to be able to provide a satisfactory redress to the challenges noted above. This paper provides an overview of the current energy policies with a view to identify areas where further policy effort is needed in order to facilitate a sustainable development of the Vietnamese energy sector. ► Identifying challenges faced by the Vietnamese energy sector. ► Analyzing limitations of the existing energy policy settings (policies, strategies and institutions) in addressing these challenges. ► Developing recommendations on improving the existing energy policy settings to provide a satisfactory redress for the challenges noted above.