THE PRIME MINISTER APPROVED THE DEVELOPMENT STRATEGY OF EVN TO 2045

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The Prime Minister (PM) has just approved the Development Strategy of Electricity of Vietnam (EVN) to 2030 with a vision up to 2045. According to this Development Strategy, EVN will become a strong economic group with sustainable, efficient business operated by the market mechanism, equally competed with the enterprises of other economic sectors in accordance with the legal regulations.

The target PM sets up for EVN in this strategy is to trade with efficiency and profit; preserve and develop the state capital invested in EVN and EVN capital invested in other enterprises. The paid debt to equity ratio is less than 3 times, self-investment rate – greater than 30% and short-term solvency greater than or equal to 1 time.

For transformation into digital enterprise, EVN must carry out following activities:

On Power supply, EVN is mainly responsible for ensuring electricity for the economy and people’s lives according to the according to the norms set forth in the national power development planning (PDPs) for each period approved by the Prime Minister; to develop smart, effective power grids synchronized with the power plants for ensuring safe and stable power supply; to ensure power supply for people in remove areas and islands by power grids or located sources; to reduce electricity losses to straight level with the advanced countries in ASEAN.

To 2025, EVN has to complete transformation into digital enterprise and at the same time to promote efficiency of applying science and technology in 4.0 Industrial Revolution. EVN should promote quality of electricity distribution and customer services; modernize and specialize activities on business and customer service so that to become country in ASEAN-3 group from 2025 up and sustain this position up to 2045.

On power system development, EVN has to deploy the synchronous and reasonable development from the power generation – transmission – distribution – business with following subjects:

According to the orientation until 2045, EVN must:

1/ Invest in developing power plants and grids in accordance with the approved PDP to ensure quality, progress and efficiency. Investing in the power system development must ensure synchronization and rationality from generation to transmission, distribution and business with a large capacity to integrate renewable energy power plants. EVN must access to advanced technology to ensure safety, reliability and environmental protection; make overall review and plan to as soon as possibly deploy upgrading technologies of the existing coal thermal power plants to meet the requirements of environmental protection, agreed with the concrete conditions at each stage.

2 / Operate the power system and electricity market in a safe, reliable and reasonable manner for meeting the conditions of Vietnam’s electricity market levels. Ensure reasonable costs of power generation and purchase; promote the sustainable development of the electricity market.

3 / Improve the business and customer service, towards provide more and more perfect customer service for meeting the increasing needs of customers and becoming an enterprise with the professional and modern business and customer service.

4 / Ensure a healthy financial situation of EVN, preserve and develop state capital invested in EVN and EVN’s capital invested in other enterprises, be able to arrange investment capital for the investment needs in power plants and grids as planned.

5 / Develop and improve the quality of the Group’s human resources for meeting the increasing requirements of service quality, capture the technologies; build qualified human resources consistent with EVN’s core values; promote creative capacity for sustainable development, modernization and international integration of the Group.

6 / Improve the scientific and technological capacity of the Group, constantly research, receive and transfer advanced technologies in the electricity sector; study and apply effectively the achievements of 4.0 Industrial Revolution in EVN’s production and business activities, focus on improving efficiency, save energy and ensure information safety and security for EVN’s information systems.

7 / Protect the environment and actively cope with climate change by the appropriate steps in every period with mainly relying on EVN internal forces and, at the same time, promoting the efficiency of external resources.

Source: Nangluongvietnam

For more information, please contact Vietnam Trade Office in Canada at Ca@moit.gov.vn