National Assembly approves Electricity Law (amended) with high approval rate.

According to the Electricity Regulatory Authority (Ministry of Industry and Trade), the Electricity Law 2024 has covered major policies such as electricity planning, electricity market, and renewable energy development, ensuring consistency with related laws, supplementing many regulations to remove bottlenecks that have existed for a long time, such as the mechanism for implementing emergency electricity projects; clarifying the mechanism for handling and replacing power projects behind schedule.

During the drafting and public consultation process, many experts said that the amendment of the Electricity Law is an urgent issue and needs to be approved soon to ensure energy security for economic and social development by the strategic targets set by the Party and the Government and at the same time in line with the global Zero carbon orientation that Vietnam has committed to.

The Electricity Regulatory Authority affirmed: Over the past nearly a year, the Electricity Law Project (amended) has been prepared very seriously; mobilized all resources with a truly progressive, listening, and democratic spirit; made the most of the intelligence and contributions of experts, scientists, the business community, voters and people nationwide.

With a sense of responsibility, the efforts and close coordination of the agencies of the National Assembly, the Government, relevant agencies, and organizations have deployed the work urgently but thoroughly and cautiously, to build and ensure the quality of the Law project and be approved by the National Assembly on the afternoon of 30 November  2024.

Translator: Hải Yến