Thị Vải LNG (Cái Mép Industrial Zone, Phú Mỹ District, Bà Rịa - Vũng Tàu Province) (Source: ZingNews)
At the 26th Conference of the Parties to the United Nations Framework Convention of Climate Change ("COP26"), Vietnam pledged to reach its net zero carbon emission targets by 2050. For these targets to be realised, holistic and strong determination is needed from all stakeholders in Vietnam, requiring radical changes in the country's power sector structure inter alia revising the total capacity of power system nationwide, reducing coal-fired electricity and fostering renewable and green energy sources. The Vietnamese government has been aware of the importance of Liquefied Natural Gas (LNG) to achieve these targets and the need to develop the energy sector and environmental protection whereby the country needs to prepare LNG-related infrastructure and pave the way for LNG electricity market. The Vietnamese Government has shown its readiness to pursue regulatory reform to create a stable legal framework in order to attract foreign investment, particularly in sectors where foreign investment can be leveraged to expedite implementation of its ambitions. Firstly, this novel paper navigates the complex legal framework governing energy and LNG-to-Power projects in Vietnam and presents a user-friendly understanding of the current legal regime. Secondly, the paper critically analyses the recent legal reforms and corporate governance practices and by doing so it assesses whether these would lead to a more competitive, efficient and profitable energy sector in Vietnam.
About authors:
- Mr. Ha T. NGUYEN is a Counsel of Huy & Partners LLC. He worked in the energy sector and infrastructure construction for several years in Vietnam and other ASEAN countries which exposed him to the field and practice of relevant legal provisions. His research interest includes law, policy and practice in a number of areas which are important for Vietnam and the strategic industries, including energy investment and trade (encompassing all types of energy such as oil and gas, electricity, renewables); competition law, aviation and dispute resolution in these sectors.
- Prof. Dr. Umut TURKSEN, Professor in Law, Research Centre for Financial & Corporate Integrity, Coventry University.
Prof Turksen is interested in the practical application of the law in innovation, societal security and development. He has published several articles and books on energy, financial crime and international trade and economic law. He has provided consultancy and training to prestigious international businesses and government projects. These include technical assistance programmes to multinational corporations (e.g. France Telecom, Orange, Equas Ltd, Wilmington Plc.) and international organisations (e.g. Commonwealth, NATO, EUROPOL), professional development training to practitioners and to the EU funded projects (e.g. CEPOL, SecuCities, MUTRAP III, COFFERS, PROTAX, VIRTEU). Prof Turksen is currently leading an EU H2020 project, PROTAX (www.protax-project.eu), which aims to co-create solutions - in collaboration with ministries and law enforcement agencies across Europe - for the prevention and prosecution of tax crimes. Prof Turksen is also a member of the Innovation Caucus (https://innovationcaucus.co.uk).
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