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

KNIC ENGAGES WITH GOVERNMENT AND HIGH-TECH BUSINESS COMMUNITIES IN CHINA

From Beijing to Shandong, KN Holdings and KN Industrial City are continuing to expand their engagement with government authorities, trade promotion organizations, and high-tech business communities in China. In Beijing, the delegation met with the Center for International Economic and Technological Cooperation under the Ministry of Industry and Information Technology (MIIT), exchanging perspectives on industrial and technology cooperation between the two markets.

Sep 24, 2026

VIETNAM ECONOMY INVESTMENT

VIETNAM’S TRADE TOPS $825 BILLION BY MID-SEPTEMBER

Figures released on September 21 showed goods trade reached nearly $55 billion in the first 15 days of September alone, bringing cumulative turnover since the beginning of the year to more than $825 billion. The strong growth reflects robust trade flows, with demand for consumer goods and production inputs remaining high.

Sep 23, 2026

TECHNOLOGY

VIỆT NAM'S BUSINESSES MOVE TOWARDS AI AGENTS

Việt Nam’s AI landscape is entering a new phase as businesses move beyond generative AI (GenAI) tools designed to assist human users towards autonomous AI, agentic AI and AI agents that can take action with limited supervision, experts have said. The shift comes as Việt Nam seeks to accelerate science and technology, innovation and digital transformation under Politburo Resolution 57-NQ/TW, issued on December 22, 2024.

Sep 23, 2026

GARMENT / TEXTILE

VIỆT NAM TARGETS $48 BILLION IN TEXTILE-GARMENT EXPORTS

Việt Nam’s textile and garment industry is facing both opportunities and challenges amid complex and unpredictable developments in the global market, prompting businesses to improve growth quality, optimise production costs and enhance adaptability in pursuit of an export turnover of about $48 billion this year. The target is considered an important milestone that requires concerted efforts from management agencies and the business community.

Sep 23, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

CUTTING LOGISTICS COSTS KEY TO BOOSTING EXPORTS

Reducing costs has become an increasingly urgent priority for import-export activities, particularly logistics costs, a conference in Hà Nội was told on Tuesday. According to Deputy General Director of the Ministry of Industry and Trade's Agency for Foreign Trade, Trần Thanh Hải, import-export activities has remained a bright spot for the economy in recent years, playing an important role and helping drive macroeconomic growth.

Sep 23, 2026

LEGAL UPDATE / POLICY

FLEXIBLE FISCAL POLICY HELPS DRIVE ECONOMIC GROWTH

Việt Nam’s fiscal policy has been implemented in a targeted expansionary manner since early 2026, helping maintain macroeconomic stability and supporting the country’s goal of achieving double-digit economic growth. According to the Ministry of Finance, State budget revenue in the first eight months of 2026 was estimated at VNĐ2.02 quadrillion (US$77.7 billion), equivalent to 80 per cent of the annual estimate and up 16 per cent year-on-year.

Sep 23, 2026