Regional Power Corporation aims to expand, targeting a position as the third-largest in the region.
Vietnam's Prime Minister, Pham Minh Chinh, has outlined ambitious objectives for the Electricity of Vietnam (EVN) during the 2025-2030 term. The key objectives include ensuring a stable and sufficient power supply to support the country's rapid economic growth, accelerating investment and development in power sources and transmission grids, particularly in clean and nuclear energy, and striving for Vietnam to become one of the top three electricity providers in the ASEAN region or even higher.
To achieve these goals, the PM emphasised the need for innovation, breakthroughs, and boldness in power sector development, digital transformation, and improving corporate governance with transparency and efficiency. EVN is also tasked with maintaining its pioneering role in national energy security and making significant contributions to industrialization and modernization.
The challenges facing EVN are numerous. They include meeting the increasing power demand amid socio-economic development and national security requirements, accelerating the deployment of renewable energy and nuclear power while upgrading the transmission infrastructure, enhancing digital transformation and innovation to improve operational efficiency, strengthening corporate governance and fighting corruption within the organisation, and achieving ambitious growth and investment targets amid a highly dynamic and competitive regional energy market.
The Prime Minister called on EVN to take part in the building of the ASEAN electricity system and begin the construction of a 500kV transmission line from Laos to Vietnam. He also urged EVN to ensure effective planning for power development in line with the country's growth goals and to strive to become the third-largest power corporation in the region.
In addition, the Prime Minister suggested that EVN devise solutions and mechanisms to mobilise resources, especially through public-private partnerships in power development. He also highlighted the need for EVN to establish a competitive electricity market.
EVN has already made significant strides in achieving these objectives. It has put into operation 962 power grid projects from 110-500kV, comprising nearly 18,000 km of transmission lines and nearly 88,000 MVA of transformer capacity. The 500kV Quang Trach-Phó Noi Circuit 3 transmission line was completed in just over six months of construction.
Moreover, EVN has completed investment projects with a total value of nearly VND514 trillion and meets the annual electricity growth demand of 10-15 percent, contributing VND23-24 trillion to the State budget each year.
The PM also emphasised the need for continued efforts against corruption, waste, and negativity. EVN was instructed to promote the application and transfer of technology, particularly clean energy and nuclear power.
In conclusion, EVN is tasked with balancing rapid growth in electricity demand with sustainability and innovation, while overcoming operational, governance, and investment challenges to become a leading power corporation regionally. The PM expects EVN’s Party Committee to take a leading role in achieving these goals with solidarity, discipline, and development-oriented breakthroughs.
- The government of Vietnam, led by Prime Minister Pham Minh Chinh, has set ambitious objectives for Electricity of Vietnam (EVN) to become one of the top three electricity providers in the ASEAN region or even higher.
- To achieve this goal, EVN is required to make significant improvements in various areas, including digital transformation, corporate governance, and the deployment of clean and nuclear energy.
- The PM has also encouraged EVN to take part in building the ASEAN electricity system, establish a competitive electricity market, and devise solutions for mobilizing resources through public-private partnerships in power development.
- To further these efforts, the government is focusing on fighting corruption within EVN, promoting the application and transfer of technology, particularly in clean energy and nuclear power, and continuing to strive for a balance between rapid growth, sustainability, and innovation.
