260 maintenance of suitable investment conditions, and the considerable reduction in CO2 emissions However, this pathway also underscores some critical challenges that need to be addressed For example[.]
260 maintenance of suitable investment conditions, and the considerable reduction in CO2 emissions However, this pathway also underscores some critical challenges that need to be addressed For example, in order to achieve annual GDP growth of 6.9%, Vietnam needs to encourage investment in major economic sectors, as well as modify technologies, improve industrialization, and ensure public transparency to increase investment efficiency High levels of energy diversity require higher contribution from new energy technologies—such as distributed solar plants, small-modular geothermal units, small wind turbines, and micro-hydro, for example—which can be expensive to integrate into the grid due to system reliability considerations In some cases, back-up electricity generation capacity—such as small gas-turbines and diesel generators—or electricity storage technologies may be required to provide electricity when renewable energy is unavailable In addition to energy security, significant efforts will be required of policy makers to ensure water security through the import and implantation of micro-irrigation and sewage treatment systems Moreover, mechanization and food processing development also require the importing of advanced technologies and industrial auto-machines As such, the Vietnamese government must actively seek suitable investors and entrepreneurs to ensure food improvement These are also key considerations following implementation Table 7-8 below describes the policy choices available to the country’s policy makers according to the field of policy objectives, scenario outcomes, and key policy issues In cases, for example, where energy security is the goal, SC2 should be the preferred choice; the energy security index in this scenario increases by th highest value (45%) This scenario is also the optimal choice from the consideration of maximizing energy production (increase of 43%) Conversely, the worst choice for energy security would be SC1, in which the continuation of current energy policies heavily increases dependence on conventional energy (coal, oil, gas, hydro); moreover, the country would not be able to adequately meet the increasing demand for energy Further, high reliance on fossil energy would even cause higher energy-import-dependency (18% - the highest among scenarios, compared with SC1-BAU 2030) as coal, oil resources are getting scare