Yes, no: trade ministry turns around, says nix coal-fired power
The Ministry of Industry and Trade has proposed that five thermal power projects with a total capacity of 6,800 MW be excluded from the national power development plan VIII (PDP VIII).
In its latest proposal to the government, the ministry explains the sudden turnaround by citing problems in implementation and capital arrangement. It now suggests that the thermal plants be replaced with other projects that tap wind and biomass power.
The ministry had insisted late last month on the inclusion of five projects in the PDP VIII for the period 2021-2030, with vision until 2050.

Quang Ninh thermal power plant in Quang Ninh province, northern Vietnam. Photo courtesy of EVN.
The five plants are: the 600 MW Cong Thanh; 1,200 MW Quang Tri; 2,000 MW Song Hau 2; 1,200 MW Nam Dinh 1; and 1,800 Vinh Tan III.
Investors for the Cong Thanh have informed the ministry that they are not in a position to continue with the coal-fired project. Thanh Hoa province has proposed that the Cong Thanh project be converted to an LNG-fired power plant with a total capacity of 1,500 MW, up from the originally planned 600 MW.
Thailand’s state utility EGATi will abandon its $2.3 billion project in Quang Tri province, Thailand’s Ministry of Energy confirmed last Thursday.
Malaysia’s Toyo Ink Group Berhad, the investor for Song Hau 2, failed to arrange capital for the project before the June 24 deadline as committed under the BOT contract. The investor has given Hau Giang province VND343.25 billion ($14.22 million) for land clearance and resident resettlement support, but still owes VND365.5 billion.
The investor for the 1,200 MW Nam Dinh 1 plant is the Nam Dinh First Power Company Limited, a joint venture between Saudi Arabian ACWA Power and the South-Korean conglomerate Taekwang Power. Currently, negotiations for the government guarantee and undertaking (GGU) are not yet complete. Besides, ACWA Power has withdrawn from the project without any replacement.
Meanwhile, Japan’s Mitsubishi Corporation and Hong Kong-based CLP Holdings Ltd. have withdrawn from the Vinh Tan 3 project after adopting policies of making no investments in coal-fired power.
Vietnam currently runs 39 coal-fired thermal power plants with a total capacity of 24,674 MW, the ministry said. In addition to the five above-mentioned projects, there are seven under construction with a combined capacity of 6,992 MW.
Four of them - Thai Binh 2, Quang Trach 1, Van Phong 1 and Vung Ang 2 - have completed capital arrangements and are under construction. For Long Phu 1, negotiations are ongoing for continuation with the EPC contractor. The An Khanh-Bac Giang and Na Duong 2 plants plan to tap domestic capital sources.
Prior to the latest proposal, the ministry had already suggested a cut of 14,120 MW of thermal power from the PDP VIII.
As a solution, it proposed that thermal power plants would also use biomass and ammonia as fuel after 20 years of operations, with the initial ratio of 20%. The ratio would increase to 100% gradually, aiming at zero coal-fired power plants by 2050.
Besides, gas-fired power plants would also use hydrogen as a fuel, starting with 20% of the total, after 2030, eventually going on to 100%. The target is that a majority of gas-fired power plants will run with hydrogen in 2050, the ministry said.
It added that by 2050, total demand of hydrogen and ammonia to replace gas and coal respectively would reach 40 million tons. Of this, 33 million tons of green hydrogen would be produced from solar and wind power.
- Read More
Halal market presents major opportunities for Vietnamese businesses
The global Halal market is projected to reach $5 trillion by 2030, with Malaysia alone expected to hit $113.2 billion, said Shariza binti Abdul Rasheed, Halal product manager at Maybank Malaysia.
Economy - Thu, August 7, 2025 | 9:18 pm GMT+7
Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant
Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.
Industries - Thu, August 7, 2025 | 8:03 pm GMT+7
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7
Malaysia steps up efforts to explore nuclear energy potential
Malaysia’s Minister of Science, Technology and Innovation Chang Lih Kang on Wednesday reaffirmed his ministry’s commitment to enhancing cooperation with the Ministry of Energy Transition and Water Transformation (PETRA) in exploring the potential of nuclear energy.
Southeast Asia - Thu, August 7, 2025 | 8:10 am GMT+7
Indonesia's economy grows faster than expected
Indonesia's economy expanded by 5.12% year-on-year in Q2/2025, up from 4.87% in the previous quarter, exceeding the forecasts of many economic organizations, which had previously projected a rate of less than 5%, according to Statistics Indonesia (BPS).
Southeast Asia - Thu, August 7, 2025 | 8:07 am GMT+7