11 RENEWABLE ENERGY POLICY IN VIETNAM
271
Opportunities
Availability of Supporting Policy Framework. The policy framework to
promote the development of renewable energy is now in place, with a
range of laws, strategies, action plans, and incentives. The most three
important documents include the National Energy Development Strategies, the National Renewable Energy Development Strategy, and the
Power Development Plan 7 revised. The national master plans are
prepared for the sub-sectors of coal, oil, gas, and electricity every 10 years.
It is mandated in the 2013 Electricity Law that sub-sector energy master
plans must be developed in accordance with the National Energy Development Strategy. This will ensure a degree of consistency and integration
between the sub-sectors of energy, including renewable energy sources.
The existing strategies and action plans set both general and specific
objectives. Clear targets set by year, or several year intervals, are defined
and come together with monitoring and evaluation frameworks. For
PDP7 revised, a National Steering Committee has been established where
the Deputy Prime Minister is Chairman, and Minister of MOIT serves as
Vice Chairman of the Committee. MOIT is the coordinating body for
the National Steering Committee. The Committee evaluates the progress
of the PDP’s annual implementation and reports directly to the Prime
Minister. With specific reference to renewable energy, the coordinating
and implementing agency is MOIT. MOIT is also in charge of evaluations and reporting to the prime minister. The Ministry of Agriculture
and Rural Development (MARD) and Ministry of Natural Resources and
Environment (MONRE) are also key agencies in biomass, biogas, and
biofuel feedstocks, environmental management, and climate change.
Moreover, there exists a set of measures defined in these strategies,
plans, and follow-up decisions to promote renewable energy, including tax
exemptions, FITs, power purchase agreements, the renewable portfolio
standard, net metering, etc. Tax exemptions are applicable for all renewable energy sources, including import tax, corporate income tax, land-use
tax, and environmental protection fees. FITs vary among renewable
energy sources (see Promotion Measures: Fiscal Incentives). Although
there are several concerns regarding the low levels of current FITs,
they are nonetheless expected to somehow promote the development of
renewable energy, assuming the continued fast development of renewable
energy technology, the reduction of renewable energy technology prices,
and the integration of the global renewable-energy technology market.
271
Opportunities
Availability of Supporting Policy Framework. The policy framework to
promote the development of renewable energy is now in place, with a
range of laws, strategies, action plans, and incentives. The most three
important documents include the National Energy Development Strategies, the National Renewable Energy Development Strategy, and the
Power Development Plan 7 revised. The national master plans are
prepared for the sub-sectors of coal, oil, gas, and electricity every 10 years.
It is mandated in the 2013 Electricity Law that sub-sector energy master
plans must be developed in accordance with the National Energy Development Strategy. This will ensure a degree of consistency and integration
between the sub-sectors of energy, including renewable energy sources.
The existing strategies and action plans set both general and specific
objectives. Clear targets set by year, or several year intervals, are defined
and come together with monitoring and evaluation frameworks. For
PDP7 revised, a National Steering Committee has been established where
the Deputy Prime Minister is Chairman, and Minister of MOIT serves as
Vice Chairman of the Committee. MOIT is the coordinating body for
the National Steering Committee. The Committee evaluates the progress
of the PDP’s annual implementation and reports directly to the Prime
Minister. With specific reference to renewable energy, the coordinating
and implementing agency is MOIT. MOIT is also in charge of evaluations and reporting to the prime minister. The Ministry of Agriculture
and Rural Development (MARD) and Ministry of Natural Resources and
Environment (MONRE) are also key agencies in biomass, biogas, and
biofuel feedstocks, environmental management, and climate change.
Moreover, there exists a set of measures defined in these strategies,
plans, and follow-up decisions to promote renewable energy, including tax
exemptions, FITs, power purchase agreements, the renewable portfolio
standard, net metering, etc. Tax exemptions are applicable for all renewable energy sources, including import tax, corporate income tax, land-use
tax, and environmental protection fees. FITs vary among renewable
energy sources (see Promotion Measures: Fiscal Incentives). Although
there are several concerns regarding the low levels of current FITs,
they are nonetheless expected to somehow promote the development of
renewable energy, assuming the continued fast development of renewable
energy technology, the reduction of renewable energy technology prices,
and the integration of the global renewable-energy technology market.