Vietnam, Indonesia boost economic, energy cooperation

09:07 | 19/06/2017 Industry

Vietnam and Indonesia boast huge potentials in energy collaboration, Indonesia Ambassador to Vietnam, Ibnu Hadi, highlighted at a conference held in Hanoi on June 16.

vietnam indonesia boost economic energy cooperation
Coal exploitation in Quang Ninh - Photo:

The event drew the participation of numerous Indonesian coal exporters and Vietnamese importers.

In the first four months of the year, Indonesia shipped more than 1.5 million tonnes of coal to Vietnam, he said, adding that the country will export at least 4.5 million tonnes of coal to its ASEAN peer.

The Indonesian Embassy in Vietnam will work to promote the connection between the energy businesses of each country to ensure sufficient supply, he stressed.

Regarding the coal demand of the Electricity of Vietnam (EVN), a representative from the group, said that coal-fired power accounts for 30% of the total electricity generated nationwide, of 42,000 MW.

Before 2016, most thermoelectricity plants used domestic coal, however, the need for imported coals has shot up due to the development of thermoelectricity.

In 2016, the country bought 680,000 tonnes of coal from abroad, the figure is expected to rise to 4.7 million tonnes in 2017, 11 million tonnes in 2020 and 19 million tonnes in 2025.

On the occasion, businesses from both countries exchanged experience and discussed measures to boost cooperation.

Two-way trade stood at US$ 5.5 billion in 2016 and both sides are targeting US$ 6 billion in 2017.