Electricity market development in Vietnam: Historical trends and future outlooks

This study discusses electricity market development in Vietnam, focusing on key achievements and future possibilities. The empirical analysis involves the construction of ESSI, a composite indicator for the security of the electricity supply for Vietnam. Specifically, principal component analysis (PCA) is performed based on eight normalized variables representing four aspects of electricity security. ESSI trends for Vietnam and other ASEAN+6 countries are reviewed and compared during the 1996–2019 period. This research finds that, except for Brunei, the ESSIs of the ASEAN+6 have been on the rise. The findings are robust to different normalization techniques. Policy implications are then offered.