Vietnam's GDP growth for 2021-2030 is forecasted to reach
an average of 6.6%/year and an average of 5.7% for 2031-2045.
Correspondingly, the Institute of Energy has calculated that
commercial electricity will reach 491 billion kWh by 2030, and 877
billion kWh by 2045. By 2030, the total installed capacity of
Vietnam's electricity sources is predicted to be at 137.2 GW
(of which coal-fired power: 27%, gas thermal power: 21%,
hydroelectricity: 18%, renewable energy: 29%, imported energy about
4%, pumped hydroelectricity and other energy storage devices about
1%).
Foreign investors should take advantage of the booming energy
sector in Vietnam and understand their benefits, and limitations,
under free trade agreements that may affect them. In this article,
we examine Vietnam's commitments with regard to energy
development under the Comprehensive and Progressive Trans-Pacific
Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement
(EVFTA).
