Incomplete energy market hinders energy development in Vietnam
An incomplete and asynchronous energy market is a bottleneck in energy development in Vietnam at present, according to many participants at a workshop in Hanoi on January 11.
John Kerry, honorary president of the Carnegie Endowment for International Peace, speaks at the workshop on green energy for sustainable economic development on January 11 (Photo: VNA)
Hanoi (VNA) – An incomplete and asynchronousenergy market is a bottleneck in energy development in Vietnam at present,according to many participants at a workshop in Hanoi on January 11.
The workshop on green energy for sustainableeconomic development was co-organised by the Party Central Committee’sCommission for Economic Affairs, the US Agency for International Development(USAID), and the Japanese and Australian embassies in Vietnam. It was part ofthe second Vietnam Economic Forum.
In his speech, Chairman of the Commission forEconomic Affairs Nguyen Van Binh underscored that so far most energy demand ofVietnam is met by fossil fuel sources like coal, oil, and gas. However, thosesources are limited and their use pollutes the environment and raises greenhousegas emissions.
Therefore, the research and use of alternativegreen energy sources like solar, wind, geothermal, biomass and biologicalenergy are inevitable demand, he noted.
John Kerry, honorary president of the CarnegieEndowment for International Peace, said climate change is happening all aroundthe world, and a solution to it is using energy in a smart way. Vietnam shouldinvest in the use of electricity generated by solar, wind, gas and thermalenergy. It also needs open policies and a roadmap for solar energy in itsgeneral approach.
He said he believes that coal is not cheaper,but instead more expensive than solar and other renewable energy sources if allof its impacts on climate and the environment are taken into consideration.
Vietnam is having a chance to make moreeffective changes, save billions of USD, give people better life quality, andcreate many jobs in this sector, Kerry said.
At the workshop, foreign experts sharedexperience in attracting foreign investment in the energy industry, financialand credit mechanisms to help the country develop energy infrastructure andaccess latest achievements of the global energy sector. They also identified challengesposed by climate change to the power sector in Vietnam and proposed solutions.-VNA
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John Kerry, honorary president of the Carnegie Endowment for International Peace, speaks at the workshop on green energy for sustainable economic development on January 11 (Photo: VNA) 
