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Sunday, June 14, 2026

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Energy security for growth targets

High and sustainable economic growth cannot be separated from energy security. Economies that maintain strong growth not only need sufficient electricity and fuel, but must also build energy systems characterized by high reliability, affordable and predictable costs, resilience to geopolitical, supply chain, and climate shocks, and the capacity to transition toward clean technologies in line with their level of development. In the context of Vietnam gradually more dependent on external energy sources, the issue is no longer simply about adding supply. Rather, it is about designing an energy structure that supports rapid growth, reduces disruptions, minimizes dependency, and improves energy efficiency. This article analyzes international empirical evidence and proposes policy implications to help implement Politburo Resolution 70-NQ/TW (on ensuring national energy security through 2030, with a vision to 2045), in support of achieving double-digit growth in the coming years. Empirical evidence: how does energy security relate to growth? Research by Pinar (2026) shows that in low-income and lower-middle-income countries, economic growth depends more strongly on: (i) domestic energy availability, (ii) energy production per capita, and (iii) energy consumption per capita. As a country progresses toward upper-middle-income and high-income status, three points should be noted: First, regarding the share of renewable […]
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