Hanoi (VNA) – Mechanisms for developing the energysector in line with the Politburo’s Resolution No.55-NQ/TW on orientations tonational energy development till 2030 with a vision to 2045 are under focus atthe Vietnam Energy Summit 2020 which opened in Hanoi on July 22.

Through discussions and recommendations collected at theevent, the Government will continue completing a draft action plan as well aspolicies and mechanisms to realise goals set in the Resolution.

The summit aims to seek specific proposals and suggestionson building a competitive, transparent and effective power market, breakthroughpolicies for energy transformation, especially from fossil fuels to clean, newand renewable energy, as well as for mobilizing resources for energydevelopment.

Participants are also expected to voice their opinions onhow to tackle difficulties to facilitate private investment in energydevelopment, including in power transmission, and remove obstacles for large-scaleenergy projects.

International and local experience and effective energydevelopment models will be shared, and new technologies in the field will be onshow at the event.

Addressing the summit, Deputy Prime Minister Trinh Dinh Dungsaid the domestic energy sector is gradually switching to market economymechanism and effective use of energy.

He noted that the sector has been pooling all possibleresources from all economic sectors, especially private sector, for thedevelopment of renewable energy.

However, the Deputy PM pointed to outstanding problemsfacing the sector, including challenges to the goal of national energy securityand domestic supply unable to meet demand.

The Vietnam Energy Summit 2020 is expected to provide aplatform for discussions to seek solutions to those problems, he said.

On the occasion, several MoUs on energy projects worth tensof billions of US dollars VND are scheduled to be signed./.