One-third of coal must be imported in 2024

By Anh Minh December 11, 2023 | 02:00 am PT

Workers walk near an excavator loading coal onto a truck at a coal port in Hanoi Feb. 23, 2012. Photo by Reuters

Vietnam needs 74.3 million tons of coal to produce power next year, but domestic supply can only meet 65% of that demand, so the rest must be imported.

This means the country will need to import 26 million tons of coal from its main markets in Australia and Indonesia.

In July Vietnam established a partnership with Laos to import around 20 million tons per year from the country, depending on market conditions and demand.

The Ministry of Industry and Trade has asked Lao authorities to bring down coal export taxes to help reduce Vietnam’s import costs.

Local coal mining firms Vinacomin and Dong Bac will be able to provide 48.2 million tons at most next year.

The industry ministry has thus ordered power plants nationwide to find alternate import sources so that there will be "no coal shortage in any case."