Asia Counsel is pleased to share an important update regarding Vietnam’s energy sector. On 30 November 2024, the National Assembly passed the New Electricity Law, which will take effect on 1 February 2025, repealing the existing law. This law is part of the National Power Development Plan (PDP VIII) for 2021-2030, with a vision for 2050.
The New Law aims to create a more transparent framework for electricity activities, encouraging private sector investment, especially from foreign investors. It includes a dedicated chapter on renewable energy (RE) development, marking a shift from the previous plan for a separate RE law. While broad regulations are outlined, specific details regarding conditions, incentives, and procedures are yet to be defined, pending further government guidance.
For more detailed insights, please click HERE for the full legal update.

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