In May 2023 the Prime Minister issued the long-awaited Decision
500, approving the national power development plan known as
("PDP8"). Decision 500 took effect on
May 15, 2023, and covers a term of 27 years (2023 to 2050). It
provides general policies, objectives, plans for development of
power generation and transmission lines, on land use, and with a
list of important projects. It provides a general road map to
implement PDP8. On April 1, 2024 the Prime Minister issued Decision
262, approving the PDP8 Implementation Plan
("Plan").
It has been reported that through 2020, total installed capacity
of the power generation industry had reached 69,340 MW1. It is estimated that during
2023-2050, Vietnam's average GDP will be 6.5%-7.5%. To meet the
country's GDP growth as contemplated in PDP8, Vietnam must
double the current capacity of the power industry, to reach 150,500
MW in 20302. Vietnam has five (5) years from
now to 2030 to double the current capacity. Time is of
