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Clean Energy Finance and Investment Policy Review of Viet Nam

image of Clean Energy Finance and Investment Policy Review of Viet Nam

Viet Nam has become a leading regional market for renewable energy in a short space of time led by private sector investment facilitated by favourable support mechanisms. Maintaining market growth sustainably while integrating higher shares of variable generation will be a key challenge for Viet Nam’s policy makers over the next decade as the post-pandemic economic recovery builds momentum. Viet Nam's economy also remains highly energy intensive and energy efficiency improvement has the potential to unlock multiple economic benefits with further market interventions.

The Clean Energy Finance and Investment Policy Review of Viet Nam provides a comprehensive overview of the current policy framework, highlighting progress and identifying untapped opportunities for strengthening policy interventions that can help scale up clean energy finance and investment. It also provides a number of tailored recommendations for the Government of Viet Nam and development partners. The Review was undertaken within the OECD Clean Energy Finance and Investment Mobilisation (CEFIM) Programme, which supports governments in emerging economies to unlock finance and investment in clean energy.

English Also available in: Vietnamese

Preface

As international action against climate change intensifies and global value chains are reshaped as a result, effective clean energy policies will increasingly be a source of competitive advantage. Viet Nam, Asia’s major regional manufacturing hub and one of South-East-Asia’s fastest growing economies, must act consistently with these trends to maintain its position as a leading destination for foreign direct investment. This will require ever-greater levels of investment in clean energy infrastructure with sector strategies indicating a more than trebling of generation capacity by 2040 and an increasing role for solar and wind generation. Viet Nam’s economy also remains highly energy intensive with abundant economic potential for demand-side efficiency. The scale of investment required goes beyond the capacity of public finances. A strong enabling framework to attract private capital is critical to reap the economic benefits of a clean energy transition.

English Also available in: Vietnamese

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