Securing energy for economic development

Wednesday, January 04, 2017 - 14:36:00

(VOVworld) – Fuel resources and energy are essential to national socio-economic development. The higher the development level is, the more energy it demands. In 2017, Vietnam will take various measures to secure sufficient energy supplies.

securing energy for economic development hinh 0
(Source: VNA)

Vietnam is now much dependent on thermal power because the hydropower supply is decreasing from 34% in 2016 to 32% in 2017. Thermal power met 37% of economic demands last year and the figure will increase to nearly 40% this year, while renewable energy has yet been developed. So, it’s a tough task to secure energy. Minister of Industry and Trade Tran Tuan Anh said Vietnam has established a National Steering Committee on Major Energy Projects and the Ministry will continue to ask for a special mechanism in energy: “First, we should make sure that key projects should be carried out on time both in 2017 and in the 2018-2020 period. With the new power plant in place, we will ensure an energy growth rate of 11.5% annually. Second, we should aggressively implement infrastructure projects, particularly the power transmission system. Third, a series of projects on supplying gas and coal for thermal power should operate soon. An overall mechanism should be adopted to ensure coal imports in accordance with market rules.”

Minister Anh said Vietnam will utilize renewable energy: “It’s important to develop renewable energy and other clean energy sources to serve demand-supply balance. We will propose the Government to adopt a new price system to develop the market and production of renewable energy in Vietnam.

Other measures include renovating technologies to minimize power loss and encouraging technological renovations in economic sectors.

Vietnam has successfully utilized cheap power sources such as hydro and thermal power. Vietnam will tap other energy sources to achieve economic goals for 2017 and the following years. 

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