Vietnam boosts coal imports as it promises investors no more power cuts

March 26, 2024

During a meeting with foreign investors last week, Prime Minister Pham Minh Chinh vowed there will be no more electricity shortages, state media reported. Coal imports, mostly from Australia and Indonesia, were up by roughly 88% as of March 15 compared to the same period last year, customs data shows. Coal imports are projected to rise further in the second half of the year, a Vietnam-based trader said, when steelmakers and other energy-intensive industries are expected to boost production. No breakdown on power generation is yet available for this year, but on Monday coal-fired plants accounted for about 60% of total output, according to Vietnam's power network operator. Foreign investors, on which Vietnam's economy is highly reliant, are demanding quick action.

The source of this news is from Tuoi Tre News