Vietnam is calling on foreign investors to develop independent power projects, hoping to ensure enough power for its development goals, a senior industry official said.
Industry Minister Hoang Trung Hai made the call at the meeting with Japanese Kozo Yamamot, Deputy Industry, Economic and Trade Minister who attended the Vietnam-Japan Energy Forum.
Vietnam needs US$4billion a year from now till 2010 to develop power projects to meet the country’s electricity demand growth of 15-17 per cent, Hai said.
In conformity with the power sector’s development roadmap, Vietnam is offering opportunities for foreign investors to take part in the competitive power market.
Meanwhile, Dinh Quang Tri, deputy general director of the Electricity group of Vietnam (EVN), said Vietnam needs US$20 billion of foreign investment to carry out its planned power generation and transmission lines from now to 2010.
Tri spoke at the annual Vietnam Investment Forum, Mar 20 in Hanoi.
EVN, to build power plants of 100-2,000 megawatts, is seeking strategic and technically and financially viable investors, Tri noted.
EVN will sell 40 per cent of its shares of three medium-sized power plants, including Pha Lai, Thac Mo and Ninh Binh, around this June.
EVN is accelerating bond issuance, power plant privatization, and joint-venture establishments among other fund raising channels, said the deputy minister. (Labor, Pioneer)
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