By 2045, the coal market will be completely competitive

DNHN - The overarching aim by 2030 is to grow Vietnam's coal industry into a developed, highly competitive sector with the sophisticated technology in all phases of exploration and coal mining, processing, transportation, and consumption in comparison to the area.

The draft Prime Ministerial Decision approving the Strategy for the Development of Vietnam's Coal Industry to 2030, with a Vision to 2045 (Strategy) has provided the projected path, with Vietnam operating a fully competitive coal market between 2031 and 2045. It is scheduled to be presented for approval to the government in the fourth quarter of 2022.

The proposal states the aims for about 47 million tons of exploited commercial coal per year from 2030 to 2030, and approximately 45 million tons per year from 2031 to 2045 while running a competitive coal market

As a result, by 2030, the overarching aim is to grow Vietnam's coal industry into a mature, highly competitive sector with advanced technology in comparison to the area at all levels of exploration. Mining, processing, transportation, and usage of coal

Actively adapting to climate change, lowering greenhouse gas emissions, increasing waste reuse and recycling, and renovating and rehabilitating coal mining areas' environments; developing and implementing a competitive, transparent, and efficient coal market by the socialist-oriented market economic institution.

Exploiting and using domestic coal resources efficiently, in conjunction with acceptable coal export and import, to fulfil the greatest demand for coal from domestic economic sectors, particularly power generation.

Continue to exploit and use domestic coal resources effectively and rationally in conjunction with reasonable coal export and import to meet the maximum demand for coal in all economic sectors in the country, particularly for electricity production, by 2045; gradually reduce domestic coal mining output by the orientations and objectives of the National Energy Development Strategy and international commitments to which Vietnam participates.

PV