Vietnam Needs $7.2B for Electric Equipment Production Next Five Years

Vietnam is estimated to need VND136 trillion ($7.2 billion) for electric equipment production in the next five years, said the Ministry of Industry and Trade.

The huge needed investment is expected to help meet 70% of the domestic demand for electric wires and transformer stations, as well as satisfy 55% of the local need for electric motors and dynamos by 2015.

Last year, the Japan International Cooperation Agency (JICA) signed a deal to fund JPY350 million ($3.98 million) for a project to improve the quality of electric equipment in Vietnam. The 3.5-year project will be kicked off in November, 2011.

The Southeast Asian nation has been encouraging enterprises nationwide to design and manufacture home-made synchros for coal-fired power plants.

It has spent VND43 trillion on electric equipment production since 2006.

Tags: Vietnam Electrical equipment sector, Vietnam electronics

Posted by VBN on Jul 7 2010. Filed under Appliances & Electronics, Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry