No power shortage under ‘any circumstances,’ pledges state utility EVN

By Minh Minh
Mon, March 4, 2024 | 4:49 pm GMT+7

Vietnam Electricity (EVN), which holds a power distribution monopoly, is committed to not letting power shortages happen under “any circumstances” in order to accommodate economic growth of 6-6.5% this year.

EVN chairman Dang Hoang An said Sunday that the national power utility has prepared for a scenario of high growth in power consumption at 9.18% or more, where electricity output could reach 306.4 billion kWh, up 26 billion kWh from 2023.

He made the pledge of not repeating power shortages at a conference of state-owned enterprises (SOEs) chaired by Prime Minister Pham Minh Chinh.

EVN chairman Dang Hoang An speaks at a conference chaired by PM Pham Minh Chinh, Hanoi, March 3, 2024. Photo courtesy of the government's news portal.

EVN chairman Dang Hoang An speaks at a conference chaired by PM Pham Minh Chinh, Hanoi, March 3, 2024. Photo courtesy of the government's news portal.

In 2023, power consumption nationwide rose 4.56% year-on-year to total 280.6 billion kWh. EVN invested VND91 trillion ($3.68 billion) in power projects and disbursed VND87.55 trillion ($3.55 billion), the highest amount among SOEs, An noted.

Besides, it kick-started 146 power projects and completed work on 163 100-500kV grids.

However, power shortages spread across the northern region for 23 days early summer last year, affecting production and livelihoods of firms and retail consumers.

“This is an expensive lesson that EVN is still analyzing and working on measures to avoid its repetition,” An said.

To ensure power supply in 2024, EVN is speeding up investment in power generation and grid projects worth a combined VND102 trillion ($4.13 billion), up VND11 trillion from 2023.

Key projects include the upgrade of the Yaly and Hoa Binh hydropower plants, the Quang Trach 1 thermal power plant, preparing investment for the Quang Trach 2 LNG-to-power plant and construction of the expanded Tri An hydropower plant.

EVN will also focus resources to complete the new 500kV transmission line from the central province of Quang Binh to the northern province of Hung Yen by June 30 as requested by the prime minister, An said.

Comments (0)
  • Read More
Vietnam, China firms partner to develop pumped storage hydropower in Vietnam

Vietnam, China firms partner to develop pumped storage hydropower in Vietnam

Vietnam's Power Generation Corporation 2 (EVNGENCO2) and China's Lancang-Mekong International Company Limited (CSG-LMI) have signed an MoU on cooperation to develop pumped storage hydropower projects in Vietnam.

Companies - Fri, May 16, 2025 | 12:27 pm GMT+7

Vietnam market rebound in May: Leading stocks begin to rally

Vietnam market rebound in May: Leading stocks begin to rally

A new wave of stock market gains appears to be forming in Vietnam, opening up promising investment opportunities for both institutional and retail investors.

Finance - Fri, May 16, 2025 | 11:12 am GMT+7

Malaysia's TNB proposes partnership with Vietnam's EVN in connecting regional power grids

Malaysia's TNB proposes partnership with Vietnam's EVN in connecting regional power grids

TNB, Malaysia's largest utility, has proposed Vietnam's state-owned utility EVN to cooperate in building a power transmission network connecting countries, including a line between Malaysia and Vietnam, via land and sea.

Energy - Fri, May 16, 2025 | 8:17 am GMT+7

New Vietnam-China int'l road transport route opens

New Vietnam-China int'l road transport route opens

Convoys carrying electronic components, fresh vegetables, and daily necessities departed simultaneously from Nanning in south China's Guangxi Zhuang Autonomous Region and Kunming in southwest China's Yunnan province on Wednesday morning, heading for Hanoi, the capital of Vietnam.

Southeast Asia - Thu, May 15, 2025 | 10:34 pm GMT+7

Indonesia’s rice reserve set to hit record 4 mln tons

Indonesia’s rice reserve set to hit record 4 mln tons

Indonesia’s rice reserves are on track to surpass 4 million tons, setting an all-time high after reaching a new record of 3.7 million tons in mid-May.

Southeast Asia - Thu, May 15, 2025 | 10:24 pm GMT+7

China's giant Huadian Group eyes enlarging renewable energy portfolio in Vietnam

China's giant Huadian Group eyes enlarging renewable energy portfolio in Vietnam

Huadian Group, a wholly state-owned company of China, is keen to further invest in Vietnam’s renewable energy sector.

Energy - Thu, May 15, 2025 | 9:40 pm GMT+7

Vietnam’s macroeconomic indicators 'broadly positive': Dragon Capital

Vietnam’s macroeconomic indicators 'broadly positive': Dragon Capital

Vietnam's macroeconomic indicators remained broadly positive, with both trade and FDI attraction performing well in the first four months of the year, write Dragon Capital analysts.

Economy - Thu, May 15, 2025 | 5:47 pm GMT+7

'How many new jobs created’ should be new KPI for local governments: VCCI leader

'How many new jobs created’ should be new KPI for local governments: VCCI leader

With a shift in thinking about the role of the private sector, local governments may soon prioritize creation of new jobs and businesses over traditional growth metrics, according to Dau Anh Tuan, deputy secretary-general of the Vietnam Chamber of Commerce and Industry (VCCI).

Economy - Thu, May 15, 2025 | 5:23 pm GMT+7

Herbalife’s Vietnam earnings hit $75.4 mln in Q1, exceed China tally

Herbalife’s Vietnam earnings hit $75.4 mln in Q1, exceed China tally

Herbalife, a global multi-level marketing corporation selling dietary supplements, recorded $75.4 million in net sales in Vietnam in the first quarter of 2025, according to the firm’s report.

Companies - Thu, May 15, 2025 | 5:01 pm GMT+7

Japan’s Nitto Denko to quadruple northern Vietnam plant's production capacity

Japan’s Nitto Denko to quadruple northern Vietnam plant's production capacity

Nitto Vietnam, a subsidiary of Japan’s multi-sector corporation Nitto Denko, has decided to raise the investment in its Hung Yen province-based plant by $28 million to $160 million.

Investing - Thu, May 15, 2025 | 3:58 pm GMT+7

UAE Embassy, VAFIE to jointly strengthen Vietnam-UAE business connections

UAE Embassy, VAFIE to jointly strengthen Vietnam-UAE business connections

The Embassy of the United Arab Emirates (UAE) in Hanoi and the Vietnam's Association of Foreign Invested Enterprises (VAFIE) on Wednesday agreed to jointly deploy specific measures to lift trade and investment ties between the two countries.

Companies - Thu, May 15, 2025 | 2:37 pm GMT+7

Turbulent times of Vietnam's food giant Kido

Turbulent times of Vietnam's food giant Kido

Profits of Kido Group, a leading food company in Vietnam, have been lower than its leaders' expectations in the past few years, with its real estate investment and divestment from Kido Foods not being smooth sailing.

Companies - Thu, May 15, 2025 | 2:27 pm GMT+7

Impact of US tariffs on Vietnam’s textile, clothing and footwear sector

Impact of US tariffs on Vietnam’s textile, clothing and footwear sector

The adjustments in the U.S. tariffs are poised to reshape Vietnam’s textile, clothing and footwear industry, prompting businesses to reassess their strategies and operations, write Assoc. Prof. Rajkishore Nayak and Corinna Joyce from the Fashion Enterprise program at RMIT University Vietnam.

Consulting - Thu, May 15, 2025 | 8:17 am GMT+7

Malaysia-EU FTA expected to promote ASEAN-EU ties

Malaysia-EU FTA expected to promote ASEAN-EU ties

The EU is placing high expectations on the Free Trade Agreement (FTA) with Malaysia as a central pillar in its strategy to strengthen relations with the Association of Southeast Asian Nations (ASEAN) amid escalating global uncertainties.

Southeast Asia - Wed, May 14, 2025 | 10:17 pm GMT+7

Malaysia works hard to expand semiconductor ecosystem

Malaysia works hard to expand semiconductor ecosystem

Malaysia needs to broaden its manufacturing ecosystem beyond assembly lines and semiconductors to fully capitalize on foreign investments, towards becoming a more complete manufacturing hub.

Southeast Asia - Wed, May 14, 2025 | 10:14 pm GMT+7

Vietnam's Phu Quoc airport to undergo major upgrade ahead of APEC 2027

Vietnam's Phu Quoc airport to undergo major upgrade ahead of APEC 2027

Phu Quoc International Airport in the southern province of Kien Giang will be expanded and upgraded to support local economic development, while ensuring transport infrastructure for hosting the 2027 APEC Economic Leaders' Week.

Travel - Wed, May 14, 2025 | 9:57 pm GMT+7