4:39:16 PM | 3/5/2008
The fast-growing economy of is estimated to need between US$8 billion and US$10 billion to develop energy infrastructure networks a year in order to meet the national increasing fuel demand in the next decade.
Of the figure, around US$4 billion-US$5 billion should be pumped into the power sector, an official of the Ministry of Industry and Trade who declined to be named said.
The problem is that the estimated loans from international financial organizations and the reciprocal of the Vietnamese government will satisfy only 30 per cent of the need, he attributed.
In order to offset the capital lack, the Vietnamese government sets focal target of foreign direct investment attraction between 2008 and 2010 to energy infrastructure development.
Potential investment fields for foreign investors in Vietnam include power plant construction; new and renewable energy development such as solar energy, wind-to-power, geothermy, biomass; alternative fuel development; biofuel development and application; energy conservation and development; petroleum processing and services; petrochemical industry development, and environmentally friendly clean coal development.
Following the success of some independent power projects (IPPs) such as Phu My 3, Phu My 2.2 and
’s energy consumption is forecast to grow over 10 per cent yearly with power demand to soar between 15 per cent and 20 per cent per annum in the future, the ministry forecast.
The country is facing an adverse power lack, which is estimated at 8.6 billion kWh this year. The figure will peak at 10.3 billion kWh in 2009 but will considerably fall to around 7.2 billion kWh in 2010.
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