Viet Nam offers big chance for foreign investment in energy
Ha Noi (VNA) - Viet Nam offers foreign investors a great opportunity to invest in energy projects, a Ministry of Industry (MoI) official said during a forum that took place in Ha Noi on Mar. 15.
Deputy Industry Minister Do Huu Hao said at the MoI forum, which was attended by trade and banking experts from Japan, the US, France, Sweden, Switzerland, and the World Bank, that Viet Nam boasts primary energy reserves of around 3.88 billion tonnes of coal, 2.3 billion tonnes of oil, and 1,300 billion cu. m. of gas.
However, the Deputy Minister stressed that the country will face a shortage of energy in the near future due to the increasing demands of the national economy. According to him, Viet Nam will annually consume around 28-30 million tonnes of energy between now and 2010, and the figure is likely to increase to 53-63.6 million tonnes ten years later. Of these figures, coal will account for 15 percent; gas, 29 percent; and electricity, 29 percent. The average annual growth in energy consumption is estimated at 6.6-7.1 percent for the 2010-2020 period.
Therefore, he added, what is important to Viet Nam is that the country seek alternative energy sources and apply appropriate energy development policies. Viet Nam's development, therefore, offers great chances for foreign investors.
The forum, entitled "Opportunities and Challenges for Foreign Investors in Energy in Viet Nam", was aimed at giving foreign investors an overview of the country's energy sector.
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