Vietnam Energy Summit 2020: Perfecting mechanisms for energy sector development

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Deputy Prime Minister Trinh Dinh Dung speaks at the event.

Through discussions and recommendations collected at the event, the Government will continue completing a draft action plan as well as policies and mechanisms to realize goals set in the Resolution.

The summit aims to seek specific proposals and suggestions on building a competitive, transparent and effective power market, breakthrough policies for energy transformation, especially from fossil fuels to clean, new and renewable energy, as well as for mobilizing resources for energy development.

Participants are also expected to voice their opinions on how to tackle difficulties to facilitate private investment in energy development, including in power transmission, and remove obstacles for large-scale energy projects.

International and local experience and effective energy development models will be shared, and new technologies in the field will be on show at the event.

Delegates at the event. (Photo: VGP)

Addressing the summit, Deputy Prime Minister Trinh Dinh Dung said the domestic energy sector is gradually switching to the market economy mechanism and effective use of energy.

He noted that the sector has been pooling all possible resources from all economic sectors, especially the private sector, for the development of renewable energy.

However, the Deputy PM pointed to outstanding problems facing the sector, including challenges to the goal of national energy security and domestic supply unable to meet demand.

The Vietnam Energy Summit 2020 is expected to provide a platform for discussions to seek solutions to those problems, he said.

On the occasion, several MoUs on energy projects worth tens of billions of US dollars VND is scheduled to be signed.

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