EIRA – A Report released in 2021 on globally energy investments risk assessments. Coverage from 30 countries to 34 countries in 2020 – 2021 has been collected to report detailed assessment results from small countries such as Burundi, Mali, Mauritania, South Sudan and Yemen… Specifically, EIRA 2021 provides the latest information on energy projects, programs, policies and operational plans developed by participating countries between April 2020 and April 2021. This Report is the presence for EIRA in terms of Energy Investment and specifies difficulties such as Vietnam, Mongolia back from 2019.
Specifically, at the recent event, the representative of Vietnam participating in the Report was Asia Legal. Asia Legal has released indicators from 2019 to 2021, including Foresight of policy and regulatory change, which in March 2021, the Government announced it to consult stakeholders in the National Power Development Master Plan (PDP) VIII period 2021-2030. Next is the Management of decision-making processes, which is the process responsible for the overall energy planning and policy development. In addition, Regulatory environment and investment conditions are established based on MOIT according to Law No. 61/2020/QH14 On Investment, Law No. 59/2020/ QH14 On Enterprises, and Law No. 64/2020/QH14 On PPP Investment took effect on 1 January 2021. The final assessment from Vietnam is the Rule of Law, which introduces the term “Public Interest” to provide investors with more legal guarantees.
The report summarizes three risks assessed in EIRA, including Unpredictable policy and regulatory change, Discrimination between domestic and foreign investors, Breach of State obligations, specifically EIRA provides specific data through Risk Level according to the chart. Although Vietnam has related policies and measures, there is still potential for improvement. After that, the Government should pay attention to reducing restrictions on currently effective FDI in the future.
On this occasion, Asia Legal would like to thank EIRA for providing the opportunity to learn and research more deeply about risks in energy investment. We hope to be able to continue this relationship and contribute to EIRA’s next projects.