APEC 2017 expected to generate power sector opportunities

08:39 | 12/02/2018 Industry

(VEN) - Electricity of Vietnam (EVN) played a vital role in Vietnam’s successful hosting of APEC 2017, especially the November summit of 21 leaders of the Pacific Rim organization’s member states.

apec 2017 expected to generate power sector opportunities

Nonstop efforts

The yearlong events of the 21-nation Asia Pacific Economic Cooperation (APEC) forum were a top priority for Vietnam’s international integration and multilateral foreign relations.

The state acknowledged that the events, especially the APEC Summit Week in the central city of Da Nang, would provide a great opportunity for Vietnam to affirm its role and position in the APEC community and promote its image as a friendly, dynamic and culturally rich destination for foreign visitors and investors.

In 2017, hundreds of APEC events took place in provinces and cities throughout Vietnam, attracting the participation of tens of thousands of officials, businesspeople and journalists from 21 APEC economies. Ensuring sufficient and safe power supply at meeting venues and other events was a top priority.

The group prepared power supply plans for APEC events in Da Nang, Hue City and Quang Nam Province, and instructed its production, transmission, distribution and other member units to implement efficiently those plans. EVN established a steering committee for power supply for the APEC Summit Week, led by a deputy director general of the group.

Nguyen Thanh, Deputy General Director of the Central Power Corporation (EVNCPC), said that in 2015, EVNCPC, the National Power Transmission Corporation (EVNNPT), and the Da Nang Power Company cooperated on power source and grid projects at a total cost of more than VND1.1 trillion. All these projects were completed ahead of schedule, Thanh said.

The companies accomplished almost 20 220kV and 110kV power grid projects in addition to medium voltage grid projects. EVNCPC proposed that the national power system regulatory center and the central power system regulatory center prioritize power supply for APEC events.

apec 2017 expected to generate power sector opportunities

Opportunities for power sector

Ngo Tan Cu, Director of the Da Nang Power Company, said that during the APEC Summit Week, the company got more than 680 employees to work round the clock, used 54 means of transport, carried out nonstop surveillance in key locations and had plans to ensure nonstop, safe and sufficient power supply for APEC events. This was particularly challenging given the impact of storm Damrey, that caused flooding and mudslides in central Vietnam.

A Da Nang City leadership representative said the Da Nang Power Company took the initiative in upgrading infrastructure to ensure backup supplies at event venues in case of power disruptions during the Summit Week.

EVN’s performance in preparing and carrying out its plans has won plaudits from the organizers. Vietnam’s power sector proved it is capable of ensuring uninterrupted, safe power supply for any events, contributing to improving Vietnam’s image and the international community’s trust in the country, the organizers said.

President of the Vietnam Chamber of Commerce and Industry (VCCI), Vu Tien Loc said that with the government’s strong commitments to institutional reform, startup promotion, business condition simplification and tax reform, after APEC 2017, Vietnam is expected to attract investment in all sectors, including processing, manufacturing and tourism industries.

Former Minister of Trade, Truong Dinh Tuyen, said the APEC Year 2017 provides Vietnam with opportunities to attract investment worth billions of US dollars in the coming years when investment is expected to improve both quantitatively and qualitatively.

In addition to immediate and long term benefits for the country as a whole, the successful hosting of APEC 2017 is expected to benefit the power sector. With electricity demand expected to increase along with investors’ growing trust in Vietnam, the power sector will have opportunities to attract investment in power generation system development.

Dinh Dung