Vietnam Calls For More Investment In Power Sector

The domestic demand for electricity would increase by 15 to 20% a year due to the growth of national economy, industrialization and modernization, said the ministry.

The ministry said that the money needed to develop the country’ s power sector is part of a total capital between US$8 to US$10 ten billion required in the next ten years to develop the infrastructure of all energy sectors in Viet Nam, including coal, oil and gas. However, capital from international financial organizations and state budget meets just 30% of the total required.

To meet demand for funds in the period from 2008 to 2010, the government focused on calling for foreign direct investment into the energy sector infrastructure projects, said the ministry.

The project with potential for foreign investors included power plants; development of power from other energy sources such as wind, sun, biomass, hot land; development of alternative energy sources and production and use of technologies of biofuel.