Vietnam's energy sector needs more than 4 billion USD invested annually. Since the Ministry of Industry and Trade started preparing the Power Development Plan 8 in 2019, fossil fuel prices are in crisis, domestic fossil fuel reserves are peaking, and climate policy ambitions have increased. The national climate change strategy to 2050 sets a goal of reducing greenhouse gas emissions from the energy sector by 32.7% in 2030. The Power Development Plan 8 has undergone many revisions from July 2020 to August 2022. To move forward, solutions such as energy efficiency, gas-to-power, auctions, offshore wind, electricity prices, and green finance are needed.