Vietnam's PM orders major power sector restructuring to support economic growth

Securing reliable and sufficient power supply has been identified as a critical prerequisite for Vietnam to meet its socio-economic development objectives, with 2026 designated as a foundational year for accelerating progress toward broader goals extending through 2027 and beyond, according to statements from the Prime Minister's office.

The directive comes as Vietnam's legislative body reviews proposed amendments to the Electricity Law, signaling comprehensive reforms across the power sector. The proposed legal changes are expected to address structural challenges and create frameworks for meeting the nation's growing energy demands.

As part of the broader restructuring efforts, Vietnamese authorities are examining expanded access to green electricity for corporate consumers. Resolution No. 70 has been introduced to broaden corporate participation in renewable energy procurement, aligning power sector development with sustainability objectives.

Regional neighbors face similar pressures on their energy infrastructure. Malaysia is currently evaluating measures to mitigate the impact of rising electricity costs on consumers and businesses, reflecting broader Southeast Asian challenges in balancing power supply security with affordability concerns.

Policy analysts view the Vietnamese government's comprehensive approach to power sector reform as essential for sustaining the economic momentum required to achieve projected growth rates, with implementation of legislative and regulatory changes expected to take precedence in coming months.