中文
Vietnam is set to boost its coal imports in 2024 in a move to meet demand for the country's growing power production.
Domestic supply can only meet 65% of the required 74.3 million tonnes of coal, while the remaining shortfall will be satisfied through imports. Approximately 26 million tonnes of coal will be purchased from key markets such as Australia and Indonesia, local media reported.
Local coal mining firms, Vinacomin and Dong Bac Corporation, are expected to contribute a maximum of 48.2 million tonnes of coal next year.
In the first eleven months of 2023, Vietnam's coal imports totaled 46.35 million tonnes, posting a notable 59.29% increase from a year earlier.
Additionally, Vietnam established partnership with Laos in July, aiming to import around 20 million tonnes of coal annually, subject to market conditions and demand.
Vietnam and Laos signed a memorandum of understanding to enhance cooperation in the coal sector on December 9, focusing on the import of electricity and coal from Laos. This collaboration not only supports economic development between the two countries but also serves the objectives of national security, defense, and energy provision for Vietnam.
To expedite the progress, the minister of Industry and Trade has urged relevant agencies to complete import formalities and facilitate the construction of new transmission lines from Laos to Vietnam.
The Vietnam Coal and Mineral Corporation (TKV) and Dong Bac have been tasked with negotiating and signing coal import contracts, particularly under the Intergovernmental Agreement. These two companies have been assigned to propose mechanisms for coal pricing and improving Vietnam's capacity to receive coal.
The Ministry of Industry and Trade has also requested Lao authorities to reduce coal export taxes and support infrastructure development for smoother coal transportation.
(Writing by Riley Liang Editing by Harry Huo)
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