Vietnam Needs $7.2B for Electric Equipment Production Next Five Years
Vietnam is estimated to need VND136 trillion ($7.2 billion) for electric equipment production in the next five years, said the Ministry of Industry and Trade.
The huge needed investment is expected to help meet 70% of the domestic demand for electric wires and transformer stations, as well as satisfy 55% of the local need for electric motors and dynamos by 2015.
Last year, the Japan International Cooperation Agency (JICA) signed a deal to fund JPY350 million ($3.98 million) for a project to improve the quality of electric equipment in Vietnam. The 3.5-year project will be kicked off in November, 2011.
The Southeast Asian nation has been encouraging enterprises nationwide to design and manufacture home-made synchros for coal-fired power plants.
It has spent VND43 trillion on electric equipment production since 2006. (
www.ven.vn))
Vietnamese
