The Ministry of Industry and Trade (MoIT) held a conference on February 22 to implement the National Hydrogen Development Strategy by 2030 with a vision to 2050, which has been approved by the Prime Minister.

The strategy opens a new development space for Vietnam’s energy sector in a green, clean, and sustainable manner.

Vietnam targets hydrogen production from renewable energy to produce green hydrogen and other processes with a carbon capture of 100,000-500,000 tons by 2030 and 10-20 million tons by 2050.

The strategy is aimed at establishing a comprehensive hydrogen energy ecosystem from production to storage, transportation, distribution, and utilization.

By 2030, Vietnam will work to introduce modern technologies in green hydrogen production and in carbon capture and storage. The country will also gradually develop its hydrogen energy market in line with the energy transition process of its economic sectors that use energy, such as electricity production, transport, industry, and trade.

By 2050, Vietnam will speed up the application of green hydrogen and the use of hydrogen-derived fuels for all fields that use fuels, to decarbonize the economy and contribute to fulfilling the country’s target of net-zero emissions by 2050.

In order to implement the strategy effectively, Minister of Industry and Trade Nguyen Hong Dien asked relevant ministries and agencies to urgently build action plans to fulfill targets and carry out solutions set by the strategy.

They were also required to study and consult authorized agencies to issue related mechanisms and policies as well as mobilize both domestic and foreign capital to implement hydrogen-derived fuel projects.