No power cuts until year-end: deputy minister
There will be no shortage of electricity for production and daily life in Vietnam until the end of this year, Deputy Minister of Industry and Trade Do Thang Hai said Tuesday.
Speaking at the government's monthly press meet, Hai said the demand for electricity for people’s production and consumption activities in the first six months of 2023 was higher than the same period last year.
The total electricity produced and imported by the whole national system in June was estimated at 25,323 billion kWh, a year-on-year increase of over 3.4%, raising the six-month figure to 136,090 billion kWh (including rooftop solar power output), up 2.2%, he said.
Deputy Minister of Industry and Trade Do Thang Hai speaks at a press meet on July 4, 2023. Photo by The Investor/Nhat Bac.
The system had ensured electricity production and supply in the first four months of 2023, meeting electricity demand for production and daily life of people nationwide, Hai said.
He also acknowledged that power supply in May and June had faced many difficulties due to prolonged hot weather, increased demand, low water flows to hydropower reservoirs, and problems in the operation and repair of thermo power turbines.
“Therefore, state utility Vietnam Electricity (EVN) had to make power cuts in some localities, especially in the northern region,” he said.
In the last 10 days of June, water flows to hydropower reservoirs improved, some thermo power turbines had their problems fixed and resumed operations. This allowed the northern electricity grid to meet regional demand.
"In July, the power system is expected to continue facing operational difficulties, especially in the north, as heat waves linger and reservoir water levels remain low," Hai said.
Following directions from Prime Minister Pham Minh Chinh on ensuring safe and stable electricity supply in July and the last months of 2023, the Ministry of Planning and Investment (MoIT) has been closely monitoring the operation of the power system, he added.
The ministry has requested EVN for continuous updates on the power load situation as well as conditions for operating the power system, ensuring safe, stable and reliable electricity operation and supply for the national power system for the rest of the year.
He said the EVN has been asked to proactively develop scenarios to cope with power system problems and promptly report cases with “unusual impacts” on the assurance of power supply so that competent authorities can find solutions, he said.
The national power utility has also been asked to coordinate with electricity users, especially large consumers, to prepare scenarios and plans to adjust the power load towards ensuring power system security.
Hai said it was necessary to synchronously implement four solutions: providing enough fuel for thermal power plants, minimizing breakdowns and quickly fixing problems (if any); rational operation of hydropower sources; taking electricity saving measures; and accelerating investment in power sources and grid projects.
Regarding rooftop solar power generation, the deputy minister said that the government has directed ministries, including the MoIT, as well as other agencies and localities to review and correct investments in the energy source.
According to EVN's National Load Dispatch Center, the installation capacity of rooftop solar power in Vietnam as of March 2023 was around 7,660 MW, or 9.65% of all power sources. It is estimated to increase by 2,600 MW by 2030 under the Power Development Plan VIII.
The MoIT has submitted to the PM a proposal on incentives for solar power development at homes and official buildings. Under the proposal, households and offices that install rooftop solar panels will enjoy several incentives including tax and fee breaks and preferential loans.
- Read More
Vietnam bank deposit rates hit 9%: Is the race to mobilize capital heating up again?
Vietnamese banks have largely kept publicly listed deposit rates unchanged, but many are quietly offering significantly higher returns to priority customers and large depositors as competition for funding intensifies amid robust credit growth.
Banking - Fri, July 10, 2026 | 4:42 pm GMT+7
Becamex sets up subsidiary to advance $176 mln industrial park project in central Vietnam
The VND4.63 trillion ($176.13 million) Ninh Xuan 1 Industrial Park, located in the south-central province of Khanh Hoa, has reached a new milestone as Becamex IDC, one of Vietnam’s largest industrial real estate developers, decided to establish a wholly owned subsidiary to push the project.
Companies - Fri, July 10, 2026 | 2:31 pm GMT+7
Trungnam Group triples investment for urban area project in central Vietnam
The Golden Hills City project, developed by Vietnam’s multi-sector Trungnam Group, has been approved by authorities in the central city of Danang to increase its total investment from VND4.4 trillion to nearly VND15.5 trillion ($589.6 million).
Real Estate - Fri, July 10, 2026 | 11:14 am GMT+7
Vietnam's leading developer Sun Group, Accor elevate strategic partnership
Sun Group and Accor have signed an agreement to elevate their decade-long strategic partnership, adding nearly 6,000 premium hotel rooms and serviced apartments across Phu Quoc island and Danang city to their cooperation portfolio.
Companies - Fri, July 10, 2026 | 10:39 am GMT+7
Samsung Display ultra-thin glass supplier breaks ground on second plant in northern Vietnam
South Korea's Dowooinsys Vina, a subsidiary of NP Group, has begun construction of its second manufacturing plant in Thai Nguyen province, expanding production capacity for ultra-thin glass (UTG) used in Samsung Display's foldable smartphone panels.
Investing - Fri, July 10, 2026 | 8:17 am GMT+7
From Phu Quoc to Sa Pa: Why Vietnam’s tourism accelerating in Southeast Asia
Leading U.S. business magazine Fortune has described Vietnam as an emerging tourism “hot spot” in Southeast Asia, driven by the strong rise of destinations such as Phu Quoc and Sa Pa.
Travel - Thu, July 9, 2026 | 11:09 pm GMT+7
VietinBank seeks to divest entire stake in Hai Phong Port via public auction
VietinBank (HoSE: CTG) plans to divest its entire stake in state-controlled Hai Phong Port (UPCoM: PHP) through a public auction on the Hanoi Stock Exchange (HNX), potentially raising nearly VND278 billion ($10.57 million).
Companies - Thu, July 9, 2026 | 5:10 pm GMT+7
Starlink begins taking orders in Vietnam, first-year service costs $1,190
Starlink, the satellite internet service operated by Elon Musk’s SpaceX, has released pricing and started accepting orders in Vietnam, with first-year costs estimated at about VND31.4 million ($1,190).
Companies - Thu, July 9, 2026 | 4:09 pm GMT+7
Masan High-Tech Materials partners with S Korea’s GBI on tungsten processing
Masan High-Tech Materials (UPCoM: MSR), the mining unit of Vietnamese conglomerate Masan Group (HoSE: MSN), has entered into a strategic partnership with South Korea’s GB Innovation (GBI) to process Korean tungsten concentrate into higher-value products in Vietnam, strengthening a non-Chinese tungsten supply chain.
Companies - Thu, July 9, 2026 | 3:51 pm GMT+7
Idemitsu Kosan expands energy ecosystem in Vietnam
After more than three decades of operations in Vietnam, Japan’s Idemitsu Kosan is further expanding its energy ecosystem with a biomass pellet plant project in the central province of Gia Lai.
Industries - Thu, July 9, 2026 | 1:43 pm GMT+7
Two banks to list on Ho Chi Minh City bourse, expand charter capital
Vietnam's private banks Vietbank and BVBank are finalizing the last steps to transfer their trading from the unlisted public company market UPCoM to the Ho Chi Minh Stock Exchange (HoSE), while simultaneously implementing plans to increase their charter capital.
Banking - Thu, July 9, 2026 | 11:51 am GMT+7
Strong Q2 earnings, lower interest rates to bolster Vietnam stocks
Strong second-quarter corporate earnings and declining interest rates are expected to support Vietnam's stock market in the coming months, brokerage firms said, as the market moves beyond a period of limited news flow and enters a more favorable phase driven by improving fundamentals.
Finance - Thu, July 9, 2026 | 8:00 am GMT+7
Wistron raises construction, equipment investment in northern Vietnam province to $178 mln
Taiwanese technology firm Wistron has increased its investment in factory construction and equipment in Ninh Binh province to $178.27 million, adding $24.5 million to expand its facilities at Kim Bang Industrial Park.
Industries - Wed, July 8, 2026 | 7:56 pm GMT+7
Sun Group targets groundbreaking for $624 mln urban projects in central Vietnam this year
Vietnam's leading developer Sun Group aims to begin construction of two urban projects worth a combined VND16.4 trillion ($623.78 million) in the central province of Quang Ngai by the end of 2026, while also advancing plans for a new expressway linking the province with the Central Highlands.
Real Estate - Wed, July 8, 2026 | 4:54 pm GMT+7
Vietnam raises airport number target to 36 by 2030 as aviation demand surges
Vietnam plans to expand its airport network to 36 airports by 2030, up from the previous target of 30, under a revised national aviation infrastructure plan aimed at catering for rising passenger demand and boosting regional connectivity.
Infrastructure - Wed, July 8, 2026 | 4:45 pm GMT+7
Germany's VFT Bio Fuels UG eyes $3.1 bln green steel complex in southern Vietnam
Vietnamese industrial park developer IMG Phuoc Dong and Germany’s VFT Bio Fuels UG have signed a memorandum of understanding to study the development of a $3.1 billion green steel complex in the southern province of Tay Ninh.
Industries - Wed, July 8, 2026 | 4:25 pm GMT+7




















