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Official Gazette

Monday, October 3, 2022

Vietnam expects to operate a fully competitive coal market by 2045

Updated: 14:33’ - 04/09/2022
By 2045, the country would operate a fully competitive coal market in all market segments which enables market participants to conduct coal trading activities and provide coal trading auxiliary services in accordance with law and market practices.

Such target is highlighted in a draft decision approving the strategy on development of Vietnam’s coal industry through 2030, with a vision toward 2045.

Prepared by the Ministry of Industry and Trade (MOIT), the draft plans to build the coal industry into a developed and highly competitive one with advanced technology in all stages of exploration, mining, processing, transportation and use.
It is expected to efficiently exploit and use domestic coal resources in combination with reasonable import and export of coal to meet to the utmost coal demand of domestic economic sectors, especially for electricity generation.

Under the draft, the annual output of commercial coal mining would reach about 47 million tons by 2030, and be kept at 45 million tons for the 2031-45 period.

In order to meet coal demand for domestic production, the country plans to import 50-83 million tons per year during 2025-35, with the volume gradually falling to 32-35 million tons per year by 2045. Meanwhile, 2 million tons of high-quality coal would be exported during the period from now to 2030 and the figure would double to 4 million tons by 2045.

To achieve such targets, the State would issue appropriate mechanisms and policies to support and promote enterprises to invest in overseas coal exploration and mining projects, seek and diversify sources of coal import to serve domestic demand.

The MOIT proposes the Government direct and regulate the selling price of domestically produced coal according to the market mechanism, and issue price indices of imported coal in line with Vietnam’s conditions and international practices.- (VLLF)

 

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