Conference on energy market development in Vietnam

Conference on energy market development in Vietnam - 

On 28th March 2014, the International scientific conference on the development of Vietnam’s energy market held in Ha Noi by Vietnam Energy Association (VEA).

Mr. Tran Viet Ngai - President of Vietnam Energy Association speaks at the conference.

In the framework of the conference, representative of state organs, energy corporations, experts, scientists and Foreign partners have presented their reports relevant to the development of Vietnam’s energy market.

The power sector has seen fast-growing development over the recent past, with an average output growth of 14 percent between 2010 and 2013 , serving the country’s socio-economic development and enabling over 98 percent of the total population to access electricity, heardthe conference.

Domestic prices of electricity and coal have initially been adjusted in line with the market mechanism, delegates noted at the event.

However, participants heard that the sector still faces shortcomings in energy and investment distribution, in addition to the poor-quality of the national grid. The establishment of policies on gas and coal prices has been sluggish and legal documents have not been comprehensive enough.

In response to these challenges, participants suggested new policies to fix power prices in the market-oriented economy, thus raising economic effectiveness.

In boosting the power development, it is necessary to step up the restructuring of businesses operating in the fields of electricity, coal, oil and gas, new and renewable energy, as well as increase the private sector’s involvement in the area, they added.

Scientific research and application of new technologies in the field should also be furthered, especially those related to gas and coal exploration and exploitation.

Leave your comment on this story