EVN should concentrate on enterprise restructuring work

Victoria Kwakwa, World Bank Country director stated that the energy demand, especially power in Vietnam has continued increasing, that may cause large pressure on the country’s power industry, especially in power generation, distribution and transmission.
This was one of important issues that Vu Huy Hoang, minister of industry and trade discussed with Victoria Kwakwa in the meeting held on October 25, 2011.

In addition, the country director and local minister also shared information about the difficulty Electricity of Vietnam (EVN) has faced, including the devaluation of dong that badly hit the group’s debt payment as well as improving the group’s position in terms of financial sector.

Therefore, Kwakwa added that Vietnam’s energy industry should undergo restructuring, especially the power industry so as to improve the production yield, effectiveness, competition capacity and to attract investment capital from private economic sector.

Vu Huy Hoang also shared information about current situation of Vietnam’s power industry.

The minister added that at first, EVN Group would restructure and reform the group as the major priority, and then rearrange and reform the whole industry. However, any minor change in power industry may cause effects to electricity supplies for the country. Therefore, each step to take, each method to apply for restructuring purpose must be considered cautiously.

The minister suggested that World Bank would maintain the current support for Vietnam, especially in power projects as well as developing new energy sources, renewable energy. Hoang expressed his wish that World Bank would offer more support for the National Power Saving Programme.

At the end of the meeting, Vu Huy Hoang gratefully thanked and highly appreciated World Bank’s support for Vietnam in recent time. The two parties agreed to arrange another meeting to discuss details about developing Vietnam’s energy industry. – Source: Vietbiz24.com

Tags: EVN

Posted by VBN on Oct 29 2011. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry