A view of Vàng Danh Coal Co, a member of Vinacomin managed by the Ministry of Industry and Trade. — VNA/VNS Photo Tuấn Anh

The Ministry of Industry and Trade (MoIT) has released a plan to implement the development strategy of the coal industry to 2030 with a vision to 2045.

According to the Decision No 543/QĐ-BCT signed by Minister of Industry and Trade Nguyễn Hồng Diễn on March 18, the plan focuses on developing and deploying the industry and trade industry's solutions to realise the coal industry development strategy.

Based on this plan, units under the ministry will review, develop and adjust their plans and action programmes on carrying out the coal industry's development strategy.

They also have inspection, supervision and evaluation for the implementation of the coal industry development strategy. Then, the ministry will report these issues to the Prime Minister to have adjustment for this strategy if necessary.

On January 17, 2024, Deputy Prime Minister Trần Hồng Hà signed the Decision No 55/QĐ-TTg to approve the development strategy of the coal industry to 2030 with a vision to 2045.

Accordingly, coal output is expected to be between 45 and 50 million tonnes by 2030, and between 38 and 40 million tonnes in 2031-2045.

Under the strategy, the industry will focus on exploration for upgrading existing coal resources along with new coal mines.

A goal set by the strategy is to start pilot exploitation in the Red River coal basin before 2040 so as to proceed with industrial-scale mining before 2050 if the trial is successful.

A coal market with many sellers and many buyers will be formed, while coal sources and suppliers will be diversified towards operating a fully competitive coal market after 2030.

The export and import of coal will be conducted in accordance with market demand and following the Government's direction to meet domestic coal demand, especially for electricity generation. — VNS