INTERNATIONAL COORDINATION OF VIETNAM'S INTEGRATION STRATEGIES TO THE WORLD ENERGY MARKET UNDER THE REQUIREMENTS OF SUSTAINABLE DEVELOPMENT

Keywords: international coordination, world energy market, foreign trade, energy, strategy, sustainable development, Vietnam, ASEAN

Abstract

The article focuses on the impact of international coordination of strategies for the integration of Vietnam's energy system into the global energy market, taking into account the requirements of sustainable development. It is determined that the energy sector of Vietnam is rapidly integrating into the world energy market, which is manifested in increased foreign trade in fuel and energy resources, attracting foreign investors in large-scale energy projects, increasing the presence of national TNCs in the national market. Vietnam is expanding the geographical structure of energy partnerships in the region and beyond Southeast Asia, strengthening regional energy cooperation within ASEAN. The role of international coordination in the implementation of sustainable development requirements in the process of integration of Vietnamese energy into the world energy market has been identified. The implementation of sustainable development requirements into national energy policy and participation in international coordination to combat climate change has led to an adjustment of Vietnam's energy strategies to change the structure of primary energy consumption by reducing the share of coal and oil in electricity generation in favor of natural gas and renewable energy sources. government strategies of new increased key indicators for increasing the share of renewable energy sources. Vietnam's government strategies set new high key indicators for increasing the share of renewable energy. Vietnam participates in international coordination on sustainable energy development at all levels: at the first - in the exchange of information on requirements and measures for sustainable development at the global, regional and national, and local levels; on the second, it takes into account plans for sustainable energy development of other countries into national energy plans and strategies ASEAN Plan of Action for Energy Cooperation (APAEC). This plan contributes to the direction of energy strategies of all member countries to improve energy security, the sustainable future energy landscape of ASEAN, and the integration of the group into the global energy market. Vietnam’s energy integration strategies are coordinated with ASEAN’s sustainable energy development strategies for the modernization of electricity networks and the functioning of the regional electricity market; on joint development of ASEAN gas market infrastructure; on the implementation of "clean coal" technology; on the implementation of measures and standards of energy efficiency and energy saving; to increase the share of renewable energy; on compliance of regional energy policy and planning with global trends; on cooperation with international organizations and the best operators in the use of nuclear energy for peaceful purposes); on the third - carries out joint actions to achieve the goals of sustainable development (ASEAN Petroleum Security Agreement APSA), participation in the development of a common infrastructure of the regional gas and electricity market).

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Published
2020-12-15
How to Cite
Galperina, L., Panchenko, Y., & YatsenkoО. (2020). INTERNATIONAL COORDINATION OF VIETNAM’S INTEGRATION STRATEGIES TO THE WORLD ENERGY MARKET UNDER THE REQUIREMENTS OF SUSTAINABLE DEVELOPMENT. Economy and Society, (22). https://doi.org/10.32782/2524-0072/2020-22-60
Section
INTERNATIONAL ECONOMIC RELATIONS