Vietnam – one of the fastest growing nations in Asia with more than 6% annual economic growth for the past 25 years has successfully increase its electrification rate from 54% to 98% since 1990; connecting some 55m people. It is one of the country’s priorities in providing secure and affordable supply of energy to all of the society participant and economic sectors at the same time, attract the capital required to expand infrastructure, securing the needed supply which are forecasted to hit 230TWH in 2020, 350TWH in 2025 and 515TWH in 2030.
According to the revised Power Development Plan (PDP 7), Vietnam requires total investment of $143.5 billion (excluding privately financed BOT power generation projects) for meeting its double-digital annual growth of energy in demand. The Vietnam government is broadening their strategic approaches to fully tap the huge potential of its energy sector by unlocking private investment potentials; inviting foreign technical expertise and foreign investment for participation in its energy projects. It is estimated that Vietnam requires investment of 15billion per year, which 75% is earmarked for generation and 25% for development of the transmission and distribution network.
The hosting of the Electrify Vietnam 2019 (EVN2019) is to provide an interactive platform for potential investors and key players of the industry from over 25 countries to get updated on the new directions, investment policies and market potential of the energy and power sector in Vietnam; at the same time discuss strategies and share insights to support the National Power Development Plan in order to fulfill the demand of 515Twh in 2030.
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