National Assembly passes Resolution on Vietnam’s energy development mechanisms and policies for 2026 - 2030

Presenting the report on revisions and explanations for the draft Resolution, Minister of Industry and Trade Nguyen Hong Dien stated that the Government had urgently coordinated with the National Assembly’s committees to fully incorporate lawmakers’ recommendations and finalize the draft based on several key directions:

Major Revisions

1. Adjusting the Resolution’s title in accordance with the conclusions of the National Assembly Standing Committee.

2. Allowing updates and adjustments to the national power development plan to meet practical demands without altering the fundamental viewpoints, objectives, or increasing total installed capacity by type of power source.

3. Authorizing the Prime Minister to approve investment policies and select investors for offshore wind power projects in the 2025 - 2030 period, without requiring land-use right auctions or investor bidding.

4. Delegating authority to provincial People’s Committee Chairpersons to approve investment policies for offshore wind projects in the 2031–2035 period.

5. Expanding eligibility for participation in the Direct Power Purchase Agreement (DPPA) mechanism to include electricity retailers.

The Government also removed overlapping policies and submitted written comments to the drafting and appraisal agencies of related laws (such as the Law on National Reserves, the amended Law on Public Debt Management, the Law on Investment, and the Land Law) to ensure consistency across the legal framework.

Issues Assigned to the Government for Detailed Regulation

The draft Resolution also clarifies issues under the Government’s authority that require flexibility or detailed guidance, including:

• Financial capacity requirements for enterprises proposing offshore wind projects.

• Mechanisms for the development of small modular nuclear reactors (SMR).

• Mechanisms for handling survey and exploration costs.

• Procedures for preparing, submitting, and processing applications for offshore wind projects.

Implementation After Adoption

Minister Nguyen Hong Dien affirmed that the Government will promptly issue detailed guiding documents to avoid legal gaps, ensure coherence, and enable effective implementation. This will support efforts to:

• Accelerate the implementation of power generation and transmission projects.

• Improve the electricity market mechanism.

• Attract investment and safeguard national energy security.

• Meet economic - social development demands, targeting double-digit growth and achieve net-zero emissions by 2050.

• Enhance transparency, monitoring, and timely reporting of emerging issues to the competent authorities.

The Government assessed that the revised draft Resolution is now more comprehensive and aligned with the spirit of Politburo Resolutions 66 and 70.

Earlier, during the discussions on December 4 and 8, National Assembly deputies agreed on the urgency of adopting the Resolution to address long-standing bottlenecks - especially in offshore wind development, power transmission, and ensuring energy security.

Vietnam Energy Review (VER) will publish an in-depth analysis of this Resolution in its upcoming issue./.