VOV.VN - The Vietnamese Government has set an 8% growth target for 2025 and aims for double-digit growth in the following years, which presents huge challenges for the power sector.

Deputy Prime Minister Tran Hong Ha received Luo Bi Xiong, Chairman of the Board of Directors of the China Power Engineering Consulting Group Co., Ltd (CPECC) in Hanoi on May 27.

Vietnam needs US$150 billion to invest in power projects in the next 10 years, equal to half the country’s current gross domestic product (GDP), which raises demand for international financing.

VOV.VN - Vietnam will need US$150 billion, equal to half of its current overall GDP, in order to invest in power projects nationwide over the course of the following decade, according to a seminar held on November 24 that discussed ways to mobilise international capital for independent power projects.

As the country’s total power output will expand by 80,000 MW by 2030, while large sources are located far from centres, it is necessary to develop sufficient power transmission grid to ensure stable operation of the whole system, according to Deputy Minister of Industry and Trade Hoang Quoc Vuong.

Vietnam is striving for a commercial electricity output of 337.5 billion kWh by 2025 and 478.1 billion kWh by 2030, down 15 billion kWh and nearly 230 billion kWh compared with those in the adjusted Power Planning VII.