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Although the competitive power generation market has operated quite smoothly, it is not an easy job to move to a competitive power trading market. Foreign experts supposed that Vietnam will still have much work to do to have a complete competitive power trading market after 2020.

The competitive electricity wholesale market in Vietnam is expected to begin official operations this coming January following a year-long pilot program, opening the field to additional business investment.

Deputy Prime Minister Hoang Trung Hai assigned Ministry of Industry and Trade (MoIT) to direct building and completing the design of the model of Competitive Power Bulk Market (CPBM), at the same time, with the suggestions on the restructuring of the power industry in accordance with the specific design of the Competitive Power Wholesale Market to submit to Prime Minister in June 2015.

Ministry of Industry and Trade (MoIT) has issued the Decision No. 8266/QD-BCT, dated 10/8/2015 on approving detailed design for the Competitive Power Bulk Market.

On October 02, 2014, the Ministry of Industry and Trade (MoIT) issued Circular No.30/2014/TT-BTC on  regulating the operation of competitive power generation market.

The Electricity Regulatory Authority of Vietnam (ERAV) needs to continue implementing specific regulations on the competitive electricity wholesale market to carry out a trial implementation in 2016.  

The Electricity Regulatory Authority - Ministry of Industry and Trade informed that, by the end of December 2022, there are 108 power plants directly participating in offering in the competitive electricity market, with a total installed capacity of 30,837 MW, equal to about 38.8% of the total capacity of the national power system. The competitive nature in the electricity wholesale market of Vietnam has gradually expanded in scale.

In Hanoi, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan had a meeting with the Australian Deputy Minister in charge of Climate Change and Energy - Jenny McAllister. At the meeting, the two sides witnessed the signing ceremony of the "Memorandum of Understanding on Cooperation to promote the development of a competitive electricity market" between the Electricity Regulatory Authority and the Australian Embassy in Vietnam.