In an interview with the press on the sideline of the 14th National Party Congress, Phan Thi Thang, Deputy Minister of Industry and Trade, underscored the crucial role of the industry and trade sector in promoting economic development, securing national energy, and setting strategic directions for the period beyond 2026.
According to the Deputy Minister, the sector has made comprehensive and vital contributions to Vietnam’s socio-economic progress in recent years. It has proactively advised on key mechanisms and policies that have helped remove bottlenecks and enabled the Government to issue several landmark resolutions, including those on international integration, national energy security, and breakthroughs in science, technology, and digital transformation.
The Deputy Minister affirmed that the Ministry of Industry and Trade remains a driving force for Vietnam’s growth and modernization leading the country toward self-reliance, green and digital transformation, and deeper international integration.
Industrial production has shown strong recovery, with an average annual growth rate of 6.1 percent. The processing and manufacturing industries, the main engines of growth, have expanded by 6.9 percent per year, increasing the sector’s scale by nearly 1.5 times since the start of the term. Key industries such as electronics, textiles, footwear, and agricultural processing continue to strengthen Vietnam’s role in global supply chains.
In the energy sector, Vietnam’s power system now ranks among the world’s top 20 and leads Southeast Asia. National energy security has been ensured, meeting economic and social demands while moving toward greener, more sustainable sources in line with global trends.
Foreign trade also remains a highlight, with import-export turnover growing by 10.9 percent annually. By 2025, total trade is expected to exceed US$930 billion, double that at the start of the term. Vietnam continues to post a strong trade surplus, bolstering macroeconomic stability and market confidence.
Domestically, the market has grown steadily at 7.7 percent per year, serving as a stabilizing force during global disruptions, especially the Covid-19 pandemic. E-commerce has surged by over 20 percent annually, placing Vietnam among the world’s fastest-growing digital economies and accelerating business digitalization.
She disclosed that through 17 free trade agreements, Vietnam now reaches nearly 6 billion consumers worldwide, diversifying markets, attracting investment, and boosting competitiveness. These efforts continue to guide the country toward sustainable, high-quality growth.
Deputy Minister Phan Thi Thang reaffirmed that ensuring national energy security is essential for sustainable development and macroeconomic stability. Under Resolution No. 70-NQ/TW, energy development will remain “one step ahead,” fully meeting national growth, defense, and social needs.
In accordance with the Party and State's policies and the Government and Prime Minister's directives, the Ministry of Industry and Trade has been focusing on implementing a comprehensive set of solutions in the energy sector, such as developing diverse energy sources, harmoniously combining traditional and renewable energy; improving the efficiency of exploiting and utilizing domestic fossil fuels (coal, oil); promoting the development of new energy forms; and boosting energy conservation and efficiency.
Simultaneously, it is accelerating the completion of institutional and policy frameworks to develop a competitive and transparent energy market, aiming to strongly attract social resources to participate in energy development investment (including the amendment of the Electricity Law, the Oil and Gas Law).
The Ministry of Industry and Trade is highly focused on directing and leading the completion of institutional and policy frameworks, and promoting the implementation of key projects to comprehensively develop the energy policy framework and infrastructure.
The ministry has advised on the development and completion of the 2024 Electricity Law and its implementing decrees and circulars. It has researched and proposed mechanisms and policies for implementing resolutions of the Politburo and the National Assembly (including the National Assembly's resolution on mechanisms and policies for national energy development in the 2026-2030 period) and of the Government on energy development and ensuring energy security. It has chaired the process of advising the Prime Minister on the approval of the revised Power Development Plan VIII. The ministry has implemented the Government's policy on concretizing the national power system dispatching mechanism (receiving and organizing the operation of the National Power System Mechanism).
It has organized the implementation of the national power development plan. It has coordinated with ministries, agencies, and localities to concretize these in provincial planning, and urged the implementation of key power source and grid projects, especially 500 kV and 220 kV transmission projects, contributing to the gradual improvement of the power infrastructure. To date, Vietnam's energy source and network system has reached a leading scale in ASEAN.
Amid a fast‑changing global and regional economy, the accelerating energy transition, and mounting demands for green growth, emission reduction, and climate adaptation, the need for reliable energy to drive economic expansion has never been greater.
Against this backdrop, the Ministry of Industry and Trade affirms that ensuring national energy security remains a vital and ongoing political priority. This task carries fundamental importance for sustaining rapid and sustainable economic development, safeguarding social welfare, and upholding the nation’s independence and self-reliance.
To safeguard national energy security in the coming years, the Ministry of Industry and Trade will pursue comprehensive, long- term solutions. Key priorities include:
- Strengthening the legal framework for energy so it is modern, consistent, and aligned with laws on investment, planning, environment, land, and construction.
- Institutionalizing the national energy plan and power plan, creating a stable and transparent foundation that builds investor confidence.
- Developing a practical roadmap for electricity market growth, covering all levels of the market.
- Refining the electricity pricing mechanism to follow market principles under state regulation, ensuring fairness and balance among the Government, businesses, and consumers.
Alongside institutional improvements, priority should be given to reforming investment, finance, and credit mechanisms. These reforms aim to encourage broader social participation, strengthen public-private partnerships, develop green financial instruments, and effectively attract both domestic and international capital for strategic energy projects.
She said that building on this foundation, it is essential to advance decentralization and delegation of authority while reinforcing inspection and supervision. At the same time, management agencies must enhance their capacity to design and implement effective policies.
Finally, the strong integration of digital transformation into the management and operation of energy systems will boost efficiency and safeguard sustainable national energy security.
