(Photo: VNA)Hanoi (VNA) – As a rapidly growing economy, Vietnam is facing many difficulties in ensuring energy security, green and sustainable development, insiders have said. Nguyen Tuan Anh, Deputy Director of the Electricity and Renewable Energy Authority under the Ministry of Industry and Trade (MoIT), said in line with draft Power Development Planning (PDP) VIII, the country will not develop new coal-fired plants after 2030. He emphasised that developing the industry toward sustainable energy and ensuring an adequate and stable supply of electricity at a reasonable price is always a challenge for developing countries, including Vietnam. The SBV has rolled out solutions to boost green growth and sustainable development, including shifting the credit flow to environment-friendly projects, promoting green consumption and service industries, clean and renewable energy as well as low-carbon production industries. It will enhance the efficiency of credit capital allocation to serve socio-economic development while expanding green financing, she said.

Source: Viet Nam News August 24, 2022 20:09 UTC