According to Reuters, Vietnam has set ambitious targets in its latest H₂ development strategy, aiming to produce up to 500,000 metric tpy of H₂ by 2030 and scale up to 20 MMt by 2050. This initiative is a cornerstone of Vietnam's commitment to green growth and achieving net-zero emissions by mid-century.

The nation plans to integrate green H₂, generated using renewable energy, to progressively replace fossil fuels in power generation, transport, and heavy industry sectors like fertilizer, steel and cement production. By 2050, H₂ is projected to supply 10% of Vietnam's electricity needs. To finance this energy transition, Vietnam will leverage both public and private investments, including green bond issuances and international funding through collaborations like the Just Energy Transition Partnership.

Source: Reuters