The power sector also needs an investment of US$30 billion for development in 2030. — VNA/VNS Photo Ngoc Ha

DA NANG (Biz Hub) — Viet Nam's power industry should reform its structure and production based on sustainable development, transparency and future competitiveness, said Deputy Prime Minister Hoang Trung Hai .

Hai was speaking at a conference entitled 'Shaping Viet Nam's Sustainable Power Sector Development'. He stressed that the industry should meet the goal of national energy security, but also protect the environment, promote sustainable development and be supportive in the development of other industries.

"Thanks to the power sector's efforts, Viet Nam's national power grid has improved remarkably. It now can meet socio-economic development demands with higher quality and improved reliability," Hai said.

He added that the power sector is facing challenges, while the country's power sources include hydro- power, renewable energy bio-mass is either limited or underdeveloped.

The deputy Prime Minister also said the industry should improve its service, production and infrastructure to meet market demand and ensure green growth and low carbon emissions.

He appreciated the contributions of World Bank, Asia Development Bank, Japan International Co-operation Agency (JICA) and other organisations in supporting the development of Viet Nam's power sector.

Viet Nam's power sector also eye on how to build a market oriented price that aim to attract investment from multi-sectors and build up a transparency pricing system and competitive power generation providers in 2020, as well as boosting equitisation.

"Viet Nam has done well in providing access to electricity, with almost 100 percent of its population connected. Access to power has also been accompanied by improvements in operational efficiency and service quality." said Axel van Trotsenburg, the World Bank Vice President for East Asia Pacific.

"The key question today is how to meet future demand, while also complying with the government's commitments to reducing Green House Gas emission, in the context of climate change."

Le Tuan Phong, deputy head of Energy Agency under the ministry of Industry and Trade, said Viet Nam has to import 78 million tones of coal for power production in 2030 when the country's coal exploitation can not excess 50 million due to environmental concerns.

He said two nuclear power plants in Ninh Thuan province are set to provide 4,000 Megawatts (MW) after beginning operation in 2030.

He said the power sector also needs an investment of US$30 billion for development in 2030.

Phong also said the sector needs $1.6 billion to provide power for remaining 1.1 million households in rural areas.

The industry will invest $70 million to provide renewable energy (solar, wind power and bio-mass) for 21,300 households in 2030. —  VNS