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As part of the energy transition roadmap, Vietnam has acknowledged the importance of hydrogen and recently made initial steps in the regulatory formulation for the development of hydrogen.
Together with the recently approved national power development master plan (PDP8) and its implementation plan as well as the national overall master plan for energy, on 7 February 2024, the Prime Minister of Vietnam issued Decision No. 165/QD-TTg approving the national strategy for the development of hydrogen to 2030, with a vision to 2045 ("Hydrogen Strategy"). The Hydrogen Strategy lays the preliminary foundation for the development of hydrogen in the upcoming period by officially setting out the viewpoints, goals, directions, and the relevant implementation tasks and measures. Accordingly, this marks a significant step in Vietnam's transition to green energy, focusing on new and clean energy sources (including hydrogen).
Please find below the highlights and key takeaways of the Hydrogen Strategy.
The Hydrogen Strategy sets the broad directions and goals of the Vietnamese government in developing hydrogen as an energy source. With the overall direction and goals set, specific ministries are tasked to formulate the implementing regulations and mechanisms. Interested energy investors should stay close to upcoming regulatory developments and take the necessary steps to best position themselves to capture investment opportunities in hydrogen business in Vietnam.
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