Vietnam PM orders construction of 2 LNG-fired power plants to begin in Q2
Vietnamese Prime Minister Pham Minh Chinh has instructed the construction of two LNG-fired power plants in Quang Ninh and Thai Binh provinces to begin in the second quarter of this year.
Per the PM’s Directive 1/CT-TTg issued on Friday, provincial leaders are required to accelerate these projects to meet the timeline.
For other projects, including LNG Ca Na, LNG Nghi Son, and LNG Quynh Lap, provincial authorities are tasked with expediting the investor selection process, aiming to commence construction in 2025.
The under-construction LNG-fired power plants Nhon Trach 3 and 4 in Dong Nai province, southern Vietnam. Photo by The Investor/Vu Pham.
Prime Minister Chinh also emphasized the need to accelerate the development of major power projects outlined in the Power Development Plan VIII (PDP VIII), including LNG-fired power plants, aiming to complete them by the third quarter of 2028.
The PM also directed the Ministry of Industry and Trade to work closely with provincial authorities to ensure that projects, particularly LNG-fired plants, are brought into operation one to two years ahead of their planned schedules, if possible.
For nuclear power, the ministry has been assigned to deploy and complete the nuclear power project in Ninh Thuan province within five years. In November 2024, the parliament agreed to resume the nuclear power project in the south-central province after an eight-year suspension.
Regarding solar energy, the PM asked the ministry and state utility Vietnam Electricity (EVN) to support households and businesses in developing rooftop solar power systems for self-consumption. This initiative aims to reduce the load on the national grid and promote more economical energy use.
- Related News
- Read More
EVFTA generates positive outcomes for Vietnam after 5 years of enforcement: CIEM
After five years of implementation, the EU-Vietnam Free Trade Agreement (EVFTA) has delivered many positive outcomes, according to a report released by the Central Institute for Economic Management (CIEM) on Monday.
Southeast Asia - Tue, February 25, 2025 | 10:42 pm GMT+7
Indonesia considers plan to phase out fuel subsidies by 2027
Indonesia’s Ministry of Energy and Mineral Resources (ESDM) has said that fuel subsidies remain in place, while leaving open the possibility of phasing out the program by 2027.
Southeast Asia - Tue, February 25, 2025 | 10:34 pm GMT+7
Indonesia to invest in three key sectors
Indonesia's newly inaugurated sovereign wealth fund, Daya Anagata Nusantara (Danantara), will prioritize investments in mineral processing, artificial intelligence (AI), and renewable energy, Indonesian President Prabowo Subianto has said.
Southeast Asia - Tue, February 25, 2025 | 10:31 pm GMT+7
Australia eyes new business opportunities in Southeast Asia
The Australian government is advancing its trade diversification agenda by facilitating greater access for businesses to fast-growing markets in Southeast Asia.
Southeast Asia - Tue, February 25, 2025 | 10:27 pm GMT+7
Vietnam launches national data center for digital society, economic development
Vietnam’s Ministry of Public Security launched a national data center on Tuesday, which will serve as a foundation for developing digital products and reliable state databases.
Society - Tue, February 25, 2025 | 10:16 pm GMT+7
Vietnam central bank has new deputy governor
Nguyen Ngoc Canh, vice chairman of the Commission for the Management of State Capital at Enterprises (CMSC), has been appointed Deputy Governor of the State Bank of Vietnam (SBV), the country's central bank.
Banking - Tue, February 25, 2025 | 5:51 pm GMT+7
S Korea LS Eco Energy seeks stable rare earth supply from Vietnam
South Korean cable firm LS Eco Energy seeks to secure a stable rare earth supply from Vietnam, after its partners in a deal signed in January 2024 were arrested in November 2024.
Companies - Tue, February 25, 2025 | 5:37 pm GMT+7
A new chapter for Vietnam's private lender National Citizen Bank
The recent financial results of National Citizen Bank (NCB) show that the Vietnamese private lender has overcome hardships and is entering a period of recovery.
Banking - Tue, February 25, 2025 | 3:57 pm GMT+7
Vietnam, S Korea to boost nuclear energy collaboration
Vietnam and South Korea should boost their nuclear energy cooperation, by resuming the bilateral director general-level nuclear industry dialogue channel as one of the ways.
Energy - Tue, February 25, 2025 | 3:31 pm GMT+7
Central Vietnam province seeks to add long-delayed Blue Whale power project to Power Development Plan
Quang Ngai province has urged the Ministry of Industry and Trade and the Prime Minister to add the long-delayed Ca Voi Xanh (Blue Whale) gas-to-power project to the Power Development Plan VIII (PDP VIII).
Energy - Tue, February 25, 2025 | 3:03 pm GMT+7
Canadian group eyes $110 mln waste treatment project in central Vietnam
Canada’s Naanovo Group has proposed a solid waste treatment complex utilizing incineration technology to produce electricity and bio-fertilizer in the central province of Quang Nam, with an investment of $110 million for the first phase.
Investing - Tue, February 25, 2025 | 12:16 pm GMT+7
Samsung SDI allocates $2 mln to pay global minimum tax in Vietnam in 2024
Samsung SDI, the battery arm of Samsung, “recognized” a global minimum tax (GMT) expense of KRW2,838 million ($2 million) in Vietnam in 2024.
Companies - Tue, February 25, 2025 | 11:39 am GMT+7
Heavyweight Hoa Phat benefits most from Vietnam's anti-dumping duty on China’s steel
Hoa Phat, Vietnam's biggest steel manufacturer, is the biggest beneficiary of the country's decision to impose an anti-dumping tax on hot-rolled coils (HRC) imported from China.
Finance - Tue, February 25, 2025 | 8:17 am GMT+7
Road linking Gia Binh airport with Hanoi must be completed in 2 years: Vietnam PM
A road linking Gia Binh Airport in the northern province of Bac Ninh to downtown Hanoi must be completed within a maximum of two years, said Prime Minister Pham Minh Chinh.
Infrastructure - Mon, February 24, 2025 | 11:45 pm GMT+7
Vietnam PM requests probe into banks with increased deposit interest rates
Prime Minister Pham Minh Chinh has requested the State Bank of Vietnam, the country's central bank, to immediately inspect banks that have lifted their deposit interest rates, a driver of increased lending rates.
Banking - Mon, February 24, 2025 | 11:37 pm GMT+7
Thailand unveils AI-, IoT-based smart agriculture platform
Thailand has launched a new smart farming platform named “HandySense B-Farm” which harnesses the power of smart sensors, artificial intelligence (AI) and Internet of Things (IoT) to help farmers control and manage their farms efficiently.
Southeast Asia - Mon, February 24, 2025 | 10:33 pm GMT+7
