After more than 2 years of consultation, the long-awaited Power Development Plan VIII (PDP8) has finally been approved on 15 May 2023 by Deputy Prime Minister Tran Hong Ha under Decision No. 500/QD-TTg. The approval of PDP8 will heavily influence the development of green energies in Vietnam and guide Vietnam toward the objective of reaching net-zero emissions by 2050. PDP8 will also have an impact on the adoption of the use of green energy technologies for both industrial and non-industrial applications. At a glance, USD134.7 billion is the total investment for the development of energy plans for the period from 2021 to 2030.
Currently, we are conducting in-depth research and analysis on the PDP8 and more detailed information of the PDP8 will be updated by us in the coming day to keep you informed.
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Please do not hesitate to contact Dr. Oliver Massmann at omassmann@duanemorris.com in case you need more analysis on the PDP8. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.