Becoming a green hydrogen exporter: Vietnam can elevate its economic position

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What opportunities does Vietnam face with the potential of green hydrogen?

Green hydrogen (also known as green hydrogen or GH2) is produced through the electrolysis of water, using renewable energy sources such as wind, solar, or hydropower. This is a zero-carbon emission solution, replacing traditional hydrogen production methods that rely on fossil fuels.

Green hydrogen is a promising and versatile clean energy source, making it a viable solution for developing countries that depend on fossil fuels like Vietnam, especially as the country approaches a critical juncture in its national energy strategy. In early February 2024, the Prime Minister approved Vietnam’s Hydrogen Energy Development Strategy to 2030, with a vision to 2050, as outlined in Decision No. 165/QĐ-TTg. The objectives set by the strategy, in my opinion, are ambitious but necessary.

I believe Vietnam can draw inspiration from India, which launched the "National Green Hydrogen Mission" in 2023. My home state of Kerala is a successful example, not only because it uses renewable energy sources like solar and wind to produce hydrogen but also because it integrates green hydrogen into a broader sustainable development ecosystem. Kerala is utilizing the hydrogen it produces for domestic use and export. This strategy not only reduces carbon emissions but also positions Kerala as a leader in developing comprehensive, future-ready energy infrastructure.

Many other developing countries are also exploring green hydrogen. Vietnam can benefit by studying the innovative approaches of other countries and adapting them to fit the domestic context.

What steps should Vietnam take to seize the opportunities presented, sir?

Vietnam relies heavily on imported fossil fuels, making it vulnerable to market fluctuations and geopolitical risks. Therefore, Vietnam can create clean energy by investing in green hydrogen, enhancing energy security, and reducing dependence on foreign sources.

Moreover, as I mentioned earlier, green hydrogen offers significant economic benefits. While high fossil fuel import costs are straining Vietnam’s economy, domestic green hydrogen production could significantly reduce these costs, allowing for the reallocation of investments to crucial sectors like healthcare, education, and infrastructure, thereby promoting inclusive economic development.

Implementing this also fulfills the country's environmental responsibilities. Vietnam has committed to reducing greenhouse gas emissions and transitioning to a low-carbon economy. Green hydrogen provides a zero-emission solution, helping the country meet its environmental goals while improving air quality and public health.

Additionally, this sector offers potential for industrial and technological innovation. By developing this field, Vietnam can position itself as a regional leader in clean energy, attracting investment and global expertise. This, in turn, would enhance its competitiveness in the global market. As the international community moves toward sustainable energy, early investment in green hydrogen could help Vietnam become a key player in this emerging market, particularly in Southeast Asia. By becoming a green hydrogen exporter, Vietnam can contribute to global sustainability efforts and elevate its economic standing.

Thank you!