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Energy Transition and Green Hydrogen Development in Vietnam

Date 28/10/2023 - 18:32:00 | 288 views
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(MPI) - The National Green Hydrogen Summit: Energy Transition and Green Hydrogen Development in Vietnam was held on October 28 at the National Innovation Centre (NIC) in Hoa Lac Hi-tech Park, as part of the 2023 Vietnam International Innovation Exhibition (VIIE 2023).

Minister Nguyen Chi Dung speaks at the summit. Photo: MPI

Speaking at the summit, Minister of Planning and Investment Nguyen Chi Dung said that for Vietnam, green growth towards economic prosperity, environmental sustainability and social justice is not only an inevitable choice but also an opportunity to catch up with the world’s development trend and realise its landmark historic commitment to reach net-zero emission by 2050.

Vietnam has implemented many mechanisms and policies to promote the application of science and technology and innovation, enhance economic resilience and contribute to reducing greenhouse gas emissions towards carbon neutrality.

The ministry as the national coordinator for green growth, advised the Prime Minister to issue the National Strategy on Green Growth in the 2021-2030 period, with a vision to 2050 along with a National Action Plan on Green Growth for the period of 2021-2030, which all share the same goal to put people as the centre, and develop based on modern institutions and governance, advanced science and technology along with high-quality human resources, digital transformation and smart, sustainable infrastructure.

Minister Dung said Vietnam needs to create more breakthroughs and take drastic steps to increase the contribution of green economy to the national GDP, from 6.7 billion USD in 2020 to 300 billion USD by 2050.

The clean hydrogen ecosystem can devote 40-45 billion USD to annual GDP and create about 40-50,000 jobs for the domestic market. It can be exported to developed countries and be a key factor in accelerating Vietnam’s energy transition process.

At the event, delegates discussed major role and potential of hydrogen in the national energy master plan for the 2021-2030 period, and proposed appropriate policies mechanisms to promote hydrogen development in Vietnam. They also talked about hydrogen trends as well as international experiences and mechanism needed for the green hydrogen development.

This provides a platform for discussing the development trend of green hydrogen industry in the future. Therefore, Vietnamese agencies will have foundation to build and perfect mechanisms and policies for the application and development of green hydrogen, towards reducing GHG emissions and accelerating clean energy transition in the country./.

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