VN NEEDS MORE THAN US$128 BLN TO DEVELOP ELECTRICITY INDUSTRY

Viet Nam needs about 128.3 billion USD of investment capital to develop its electricity industry in 2021-2030, according to draft electricity planning released by the Ministry of Industry and Trade (MoIT).

On February 9, the MoIT issued a draft national electricity development planning project for 2021-2030, with a vision to 2045 or the power master plan VIII and asked other ministries and agencies to contribute their ideas.

With forecasts that Viet Nam's GDP growth will reach an average of 6.6 percent per year in 2031-2045 and 5.7 percent per year in 2031-2045, the MoIT forecast the supply of commercial electricity to reach 491 billion kWh by 2030, and 877 billion kWh by 2045.

The draft expected by 2030, the total installed capacity of electricity sources in the country would reach 137.2 GW including 27 percent from coal-fired thermal power, 21 percent from gas thermal power, 18 percent from hydroelectricity, 29 percent from wind power, solar and renewable energy and 4 percent from the imported sources and 1 percent from other types of energy from storage devices.

The MoIT’s draft said by 2045, the total installed capacity will reach nearly 276.7 GW including 18 percent from coal-fired thermal power, 24 percent from gas thermal power, 9 percent from hydroelectricity, 44 percent from wind power, solar and renewable energy and 2 percent from the imported sources and 3 percent from other types of energy from storage devices.

The power master plan VIII encourages the development of renewable energy and discourages hydroelectricity. Renewables made up 13 percent of power in 2020 and are aimed to make up 30 percent by 2030 and 44 percent by 2045.

Regarding the power grid development program, the plan proposes to continue building the 500kV power transmission system to transmit electricity from major power source centers in the Central Highlands, south-central, north-central and central regions to the large load centers in Ho Chi Minh City and the Red River Delta. It also asked to strengthen the interconnected transmission grid to support the transmission of power capacity.

In the draft, they also research the application of smart grid and the 4.0 technology in power transmission to calculate and propose in the master plan.

The MoIT calculated total investment capital for electricity development in 2021-2030 of about 128.3 billion USD including US$95.4 billion for electricity and US$32.9 billion for the grid.

For the next 15 years, the ministry calculated the need at about 192.3 billion USD including US$140.2 billion for electricity and US$52.1 billion for the grid.

Combining the two periods, Viet Nam needs 320.6 billion USD to develop its national power system.

Source: VGP

Related News

MEMBER CORNER / PROMOTIONS

KING’S SPOTLIGHT: EXPERIENCE A KING’S CLASSROOM IN HO CHI MINH CITY

For the first time in Ho Chi Minh City, pupils can experience authentic lessons delivered by teachers from King’s College School, Wimbledon - the world’s top 5 school. Through engaging sessions in Logical Math and Language & Communication, pupils will discover how King’s nurtures curiosity, confidence, critical thinking and communication skills.

Jun 24, 2026

TECHNOLOGY

VIETNAM AIMS FOR 10 STRATEGIC TECH FIRMS WORTH $1 BILLION BY 2030

The plan, unveiled on June 17, seeks to drive the development of digital infrastructure, workers, data, strategic technologies, and cybersecurity during the 2026-2030 period. Under the scheme, large-scale strategic technology companies must meet several criteria simultaneously, including annual revenue of at least $1 billion and an average workforce of no fewer than 5,000 employees.

Jun 22, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

CAN THO EYES TRANSFORMATION INTO A MODERN INTERNATIONAL LOGISTICS HUB

With its extensively expanded economic space, Can Tho now possesses a range of strategic advantages, including an extensive road transport network with both north-south and east-west expressways; an inland waterway transport system; an international airport; a network of ports along the Hau River; a large concentration of industrial parks and agricultural and seafood processing facilities; and connectivity to the Mekong development corridor.

Jun 22, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

HCMC APPROVES MAJOR PROJECTS WORTH VND155 TRILLION

The HCMC People’s Council has approved a series of major transport and urban redevelopment projects under public-private partnership (PPP), with preliminary investment estimated at nearly VND155 trillion. Resolutions passed at the closing session of the council’s third meeting for the 2021-2026 term on June 19 included two flagship transport projects.

Jun 22, 2026

VIETNAM ECONOMY INVESTMENT

CHINESE INVESTORS SEEK INVESTMENT OPPORTUNITIES IN BAC NINH

Many Chinese investors are accelerating their plans to expand investment and increase their presence in Bac Ninh by proposing new projects in key sectors such as high technology, electronics, AI, and digital infrastructure. Several large enterprises are also encouraging long-term investment plans in the locality. In late May, a delegation of Chinese enterprises met the province’s leadership to discuss policies related to energy storage, AI computing infrastructure, power supply capacity and industrial park resources.

Jun 22, 2026

VIETNAM ECONOMY INVESTMENT

VIETNAM ON TRACK TO TOP $1 TRILLION IN TRADE FOR FIRST TIME

With total import-export turnover reaching approximately $445 billion in the first five months of 2026, Vietnam is on track to surpass the $1 trillion trade milestone for the first time. Speaking at the seminar on export trends on June 17, Nguyen Tuan Viet, CEO of VIETGO, a company specialising in export consultancy and international trade matching, said exports continue to be one of the brightest spots of the economy and are making an important contribution to the government’s double-digit growth target.

Jun 22, 2026