Speaking at a meeting Wednesday he warned that if Vietnam does not resolve its coal shortage, it could face a power shortage right from this year. Since there are currently no effective alternatives, "coal power must be developed with modern and environment-friendly technologies," he said. Total electricity production next year is estimated at 232.5 billion kilowatt hours, with coal power plants accounting for exactly half, and requiring 13 million tons of coal. "Under all circumstances and at all costs, Vietnam must provide enough electricity to the economy," Dung said. He ordered the Ministry of Industry and Trade to quickly draft a plan for consumption of local and imported coal. He instructed the country’s two coal suppliers, Vietnam National Coal-Mineral Industries Corporation (Vinacomin) and the North-Eastern Company (NECO), to sign coal purchase contracts next year. Data from EVN shows demand for electricity this month is 18.89 billion kilowatt hours. To meet this, the … [Read more...] about Coal remains indispensable to Vietnam power needs: Deputy PM
Vietnam power
Competitive electricity in Vietnam? It’s still far away
VietNamNet Bridge - More than one electricity generator and wholesaler exists in Vietnam, but the country still does not have a competitive electricity market. Vietnam is string for a competitive electricity market Tran Dinh Long, deputy chair of the Vietnam Power Association, under the Electricity Law and the Prime Minister’s Decision No 63, said Vietnam will experience three stages of development before a competitive electricity market is established. Vietnam plans to develop existing power companies into wholesale buying companies. However, it is necessary to prepare well for the development, especially the legal framework. But it is unclear when such a framework will be completed. Vietnam plans to develop existing power companies into wholesale buying companies. However, it is necessary to prepare well for the development, especially the legal framework. But it is unclear when such a framework will be completed.Consumers RELATED NEWS Power sector … [Read more...] about Competitive electricity in Vietnam? It’s still far away
Vietnam power plant will drive Jaks profit growth
Malaysia-based Jaks Resources Bhd bets on its power plant in Vietnam to drive the company’s profit growth as its property business continues to drag behind. Vietnam power plant will drive Jaks profit growth Jaks Resources plans to take a step back from the property segment to focus more on infrastructure and power generation projects, including the one being developed in Vietnam, as well as searching for other opportunities in the renewable energy sector. “In the next two years, Jaks Resources sees the $1.87 billion, 1,200-megawatt coal-fired thermal power plant in the northern province of Hai Duong driving the company’s profit growth,” the company stated in its latest report recently released. According to another Jaks Resources report on its property development and investment division, the company recorded a pre-tax loss of RM14.8 million ($3.64 million) in the first quarter of this year, lower than a pre-tax loss of RM10 million ($2.46 million) in … [Read more...] about Vietnam power plant will drive Jaks profit growth
Vietnam ensures power supply for businesses
Ensuring stable supply of electricity for businesses in major industrial parks is an important task for the power sector and particularly the National Power Transmission Corporation of the Electricity of Vietnam (EVNNPT) to attract more foreign investors in Vietnam. Vietnam ensures power supply for businesses - Photo: VNA Recently, Director General of Samsung Display Vietnam Kweon Yuong Chan sent thank-you letters to Vietnam’s Ministry of Industry and Trade, EVNNPT, Power Transmission Company N01 and Northern Vietnam Power Projects Management Board for their efforts to ensure safety while providing electricity for businesses at Yen Phong industrial park in the northern province of Bac Ninh. Theo VNA … [Read more...] about Vietnam ensures power supply for businesses
Vietnam needs more strong businesses, rich people: pundit
As the number of Vietnamese people with a fortune worth at least US$1 billion keeps increasing, it is time the country reconsidered the ‘anti-rich’ mindset, Tran Dinh Thien, head of the Vietnam Institute of Economics, has said. The way the public views the affluent and policies that assist people to get rich should both be changed to boost the country’s growth and prosperity, Thien told Tuoi Tre (Youth) newspaper in an interview. The interview was done shortly before four Vietnamese were named in a 2018 billionaire list by Forbes. They are Pham Nhat Vuong, the boss of multifaceted conglomerate Vingroup, Nguyen Thi Phuong Thao, CEO of low-cost carrier Vietjet, Tran Ba Duong, chairman of automaker THACO, and Tran Dinh Long, chairman of steelmaker Hoa Phat Group. Vuong’s assets rose significantly from $2.4 billion in the 2017 ranking to $4.3 billion in the latest list, and Thao, from $1.2 billion to $3.1 billion. Citing the annual 2017 Wealth Report by Knight … [Read more...] about Vietnam needs more strong businesses, rich people: pundit