REFERENCE CODE GDPE0795ICR | PUBLICATION DATE JULY 2015
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS,
AND COMPETITIVE LANDSCAPE
Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Executive Summary
Overview of Vietnam’s Power Sector
Vietnam’s power sector is one of the most rapidly
expanding in Southeast Asia. Gross Domestic
Product (GDP) grew from $XX billion in 2000 to
$XX billion in 2014 at a Compound Annual Growth
Rate (CAGR) of XX% (calculated at constant
rates). Power consumption increased at a CAGR
of XX%.
Power Market, Vietnam, Gross Domestic Product ($bn) and Annual Power Consumption (TWh), 2000–2014
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Ann
ual p
ower
con
sum
ptio
n (T
Wh)
GD
P ($
bn)
GDP (constant prices) Annual power consumption Source: GlobalData; IMF, 2015
Between 2000 and 2014, power consumption
increased at a CAGR of XX%, and generation
increased at a CAGR of XX%. In 2014,
consumption amounted to XX Terawatt hours
(TWh), and generation amounted to XX TWh.
Power Market, Vietnam, Annual Power Consumption and Generation (TWh), 2000–2014
2000 2007 2014
Annu
al p
ower
con
sum
ptio
n an
d ge
nera
tion
(TW
h)
Annual power consumption Annual power generation Source: GlobalData, Power Database [Accessed on June 23, 2015]
It is estimated that power consumption will
continue to grow in the 2015–2025 period but at a
slightly lower CAGR of XX%, which will still be high
enough to attract investment. The government is
researching investing in nuclear and renewable
power as possible ways of improving its power mix
and energy security. It even has ambitious plans
for the installation of a smart grid. It is currently
highly dependent on hydropower and thermal
power, which accounted for XX% and XX%,
respectively, of installed capacity in 2014.
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Table of Contents
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
1 Table of Contents
1 Table of Contents ....................................................................................................................... 4
1.1 List of Tables ...................................................................................................................... 7
1.2 List of Figures ..................................................................................................................... 8
2 Introduction ................................................................................................................................. 9
2.1 GlobalData Report Guidance ............................................................................................ 10
3 Vietnam, Power Market, Snapshot ............................................................................................ 11
3.1 Vietnam, Power Market, Macro-economic Factors ............................................................ 11
3.2 Vietnam, Power Market, Supply Security .......................................................................... 13
3.3 Vietnam, Power Market, Opportunities .............................................................................. 14
3.4 Vietnam, Power Market, Challenges ................................................................................. 15
4 Vietnam, Power Market, Market Analysis .................................................................................. 16
4.1 Vietnam, Power Market, Supply Structure ......................................................................... 16
4.2 Vietnam, Power Market, Key Market Players .................................................................... 16
4.3 Vietnam, Power Market, Financial Deals ........................................................................... 17
4.3.1 Deal Volume and Value Analysis, 2004 to May 2015 .................................................... 17
4.3.2 Deals by Type, 2014 ..................................................................................................... 19
4.4 Vietnam, Power Market, Demand Structure ...................................................................... 19
4.4.1 Power Consumption by Sector, 2014 ............................................................................ 21
5 Vietnam, Power Market, Regulatory Scenario ........................................................................... 22
5.1 Vietnam, Power Market, Key Electricity Policies ................................................................ 22
5.1.1 Introduction of Competition in Power Market ................................................................. 23
5.1.2 Power Master Plan VII ................................................................................................... 23
5.2 Vietnam, Power Market, Renewable Energy Development ............................................... 24
5.3 Vietnam, Power Market, Energy Efficiency ........................................................................ 25
5.4 Vietnam, Power Market, Rural Electrification..................................................................... 25
5.5 Vietnam, Power Market, Nuclear Energy Policy ................................................................ 26
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Table of Contents
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
5.6 Vietnam, Power Market, Foreign Investment Scenario ...................................................... 26
6 Vietnam, Power Market, Capacity and Generation Overview .................................................... 28
6.1 Vietnam, Power Market, Cumulative Installed Capacity by Fuel Type, 2014 ..................... 28
6.2 Vietnam, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2025 ........................................................................................................................ 29
6.2.1 Cumulative Installed Thermal Power Capacity and Annual Thermal Power Generation, 2000–2025 ................................................................................................................... 32
6.2.2 Cumulative Installed Hydropower Capacity and Annual Hydropower Generation, 2000–2025 ............................................................................................................................. 36
6.2.3 Cumulative Installed Nuclear Power Capacity and Annual Nuclear Power Generation, 2000–2025 ................................................................................................................... 39
6.2.4 Cumulative Installed Renewable Power Capacity and Annual Renewable Power Generation, 2000–2025 ................................................................................................ 41
7 Vietnam, Power Market, Transmission and Distribution Overview............................................. 45
7.1 Vietnam, Power Market, Transmission Overview .............................................................. 45
7.1.1 Smart Grid Plan ............................................................................................................. 46
7.2 Vietnam, Power Market, Distribution Overview.................................................................. 47
7.3 Vietnam, Power Market, Grid Interconnection ................................................................... 48
7.3.1 Electricity Imports and Exports, 2000–2014 .................................................................. 49
7.4 Vietnam, Power Market, Electricity Trading ....................................................................... 50
8 Vietnam, Power Market, Competitive Landscape: Snapshot of Leading Power Generating Companies ............................................................................................................................... 51
8.1 Key Company in the Vietnam Power Market: VietNam Electricity...................................... 51
8.1.1 Company Overview ....................................................................................................... 51
8.1.2 Business Description ..................................................................................................... 51
8.1.3 SWOT Overview ........................................................................................................... 52
9 Appendix................................................................................................................................... 56
9.1 Market Definitions ............................................................................................................. 56
9.1.1 Power ............................................................................................................................ 56
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9.1.2 Installed Capacity .......................................................................................................... 56
9.1.3 Electricity Generation .................................................................................................... 56
9.1.4 Electricity Consumption ................................................................................................. 56
9.1.5 Thermal Power Plant ..................................................................................................... 56
9.1.6 Hydropower Plant .......................................................................................................... 56
9.1.7 Nuclear Power............................................................................................................... 56
9.1.8 Renewable Energy Resources ...................................................................................... 57
9.2 Abbreviations .................................................................................................................... 57
9.3 Bibliography ...................................................................................................................... 58
9.4 GlobalData’s Methodology ................................................................................................ 60
9.4.1 Coverage ...................................................................................................................... 60
9.4.2 Secondary Research and Analysis ................................................................................ 60
9.4.3 Primary Research and Analysis..................................................................................... 61
9.5 Disclaimer ......................................................................................................................... 62
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
1.1 List of Tables
Table 1: Power Market, Vietnam, Gross Domestic Product ($bn), Population (million), and Annual Power
Consumption (TWh), 2000–2020 ................................................................................................. 13
Table 2: Power Market, Vietnam, Market Share of Power Generation Companies (%), 2014 ..................... 17
Table 3: Power Market, Vietnam, Deal Value ($bn) and Number of Deals, 2004–May 2015 ....................... 18
Table 4: Power Market, Vietnam, Annual Power Consumption (TWh), 2000–2025 .................................... 20
Table 5: Power Market, Vietnam, Power Consumption by Sector (%), 2014 .............................................. 21
Table 6: Power Market, Vietnam, Cumulative Installed Capacity by Fuel Type (%), 2014........................... 28
Table 7: Power Market, Vietnam, Cumulative Installed Capacity (GW) and Annual Power Generation
(TWh), 2000–2025 ...................................................................................................................... 31
Table 8: Power Market, Vietnam, Leading Thermal Power Plants, 2015 .................................................... 33
Table 9: Power Market, Vietnam, Cumulative Installed Thermal Power Capacity (GW) and Annual Thermal
Power Generation (TWh), 2000–2025 ......................................................................................... 35
Table 10: Power Market, Vietnam, Leading Thermal Power Plants, 2015 .................................................... 37
Table 11: Power Market, Vietnam, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower
Generation (TWh), 2000–2025 .................................................................................................... 39
Table 12: Power Market, Vietnam, Upcoming Nuclear Power Reactors, 2020–2030 .................................... 40
Table 13: Power Market, Vietnam, Leading Renewable Power Plants, 2015 ............................................... 42
Table 14: Power Market, Vietnam, Cumulative Installed Renewable Power Capacity and Annual Renewable
Power Generation, 2000–2025 .................................................................................................... 44
Table 15: Power Market, Vietnam, Transmission Line Length (Ckm), 2000–2020 ........................................ 46
Table 16: Power Market, Vietnam, Distribution Line Length (Ckm), 2000–2020 ........................................... 48
Table 17: Power Market, Vietnam, Annual Electricity Imports and Exports (TWh), 2000–2014 ..................... 50
Table 18: Power Market, Vietnam, VietNam Electricity, SWOT Profile, 2015 ............................................... 53
Table 19: Abbreviations .............................................................................................................................. 57
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
1.2 List of Figures
Figure 1: Power Market, Vietnam, Gross Domestic Product ($bn), Population (million), and Annual Power
Consumption (TWh), 2000–2020 ................................................................................................. 12
Figure 2: Power Market, Vietnam, Market Share of Power Generation Companies (%), 2014 ..................... 17
Figure 3: Power Market, Vietnam, Deal Value ($bn) and Number of Deals, 2004–May 2015 ....................... 18
Figure 4: Power Market, Vietnam, Annual Power Consumption (TWh), 2000–2025 .................................... 19
Figure 5: Power Market, Vietnam, Power Consumption by Sector (%), 2014 .............................................. 21
Figure 6: Power Market, Vietnam, Cumulative Installed Capacity by Fuel Type (%), 2014........................... 28
Figure 7: Power Market, Vietnam, Cumulative Installed Capacity (GW) and Annual Power Generation
(TWh), 2000–2025 ...................................................................................................................... 30
Figure 8: Power Market, Vietnam, Cumulative Installed Thermal Power Capacity (GW) and Annual Thermal
Power Generation (TWh), 2000–2025 ......................................................................................... 34
Figure 9: Power Market, Vietnam, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower
Generation (TWh), 2000–2025 .................................................................................................... 38
Figure 10: Power Market, Vietnam, Cumulative Installed Renewable Power Capacity (GW) and Annual
Renewable Power Generation (TWh), 2000–2025 ....................................................................... 43
Figure 11: Power Market, Vietnam, Annual Electricity Imports and Exports (TWh), 2000–2014 ..................... 49
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Introduction
2 Introduction
Vietnam is a developing country that, in spite of political turmoil, has developed rapidly in the past
few decades. Its socialist republic form of government is governed through a centralized system,
dominated by the Vietnamese Communist Party. Over the last few decades, the government has
employed increasingly liberal development and economic initiatives. Vietnam joined the World
Trade Organization in 2007 and is a member of various other international organizations, including
the Asia-Pacific Economic Corporation, the Association of South East Asian Nations (ASEAN) and
the International Chamber of Commerce.
The economy, though liberalized, is still dominated by state-owned enterprises. In 2011, the
government launched its three-pillar economic reforms program, which proposes the restructuring
of public investments, state-owned enterprises and the banking sector. With these reforms the
government plans to transform Vietnam into a more export-oriented and competition-driven
economy. In 2014, Vietnam’s revenue from exports was $XX billion (CIA, 2015). Major export items
include machinery products, electronics, and crude oil. China and Japan are the current major
investors, and the government is endeavoring to establish trade relationships with other developing
nations.
In 2014, Gross Domestic Product (GDP) increased by XX% to $XX billion (at constant prices) (IMF,
2015). The economy is highly export driven and was affected negatively by the global economic
recession in 2008 and 2009. However, it has recovered considerably, and in 2014 exports
increased by XX% (CIA, 2015). The industrial sector was estimated to contribute a share of XX%
toward GDP. This resulted in the creation of new jobs and an increase in the labor force, which in
turn led to a decline in poverty. The service and agricultural sectors contributed XX% and XX%,
respectively, toward GDP (CIA, 2015).
The energy sector is managed by the Ministry of Industry and Trade (MoIT), which is responsible
for implementing some major reforms in the power sector with the aim of creating a competitive
market. A state-owned utility, Vietnam Electricity (EVN), is responsible for most of the generation,
transmission and distribution of power. Hydropower is used as the primary source of power
generation, contributing about XX% of installed capacity. Vietnam does use its domestic coal
resources for generation purposes; however, the best quality coal is exported.
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Introduction
Vietnam’s coal reserves are depleting, and the government is looking to expand the energy mix.
There are many opportunities for developing renewable resources. Particular focus has been
placed on the development of wind power, since there is considerable natural wind power potential
that is yet to be harnessed. As part of the renewable energy policy, the government is planning to
focus on solar and geothermal potential as well; however, there are no concrete plans to produce
energy from these sources on a large scale in the next couple of decades. Renewable energy
sources currently account for XX% of installed power capacity. Vietnam is expected to record
substantial growth in the wind energy segment during the forecast period, as the average prices of
power generated from wind sources are now lower than the average prices of power generated
from gas sources.
2.1 GlobalData Report Guidance
The executive summary captures the key growth trends in Vietnam’s power market.
Chapter three provides a snapshot of the key parameters that impact Vietnam’s power sector,
as well as key points about the power market.
Chapter four provides an analysis of Vietnam’s power market.
Chapter five details the regulatory control of the power market and the inward foreign
investment scenario in Vietnam.
Chapter six provides information on Vietnam’s cumulative installed capacity and annual
generation trends, by individual generation source.
Chapter seven describes the power transmission and distribution infrastructure in Vietnam and
provides information on interconnectors with neighboring countries. The section also covers
power imports and exports and upcoming grid-related projects in Vietnam.
Note: All 2014 market numbers provided in the report are estimates, except where actual data were
available.
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Market Analysis
4.4.1 Power Consumption by Sector, 2014
The industrial sector accounted for the highest share of total power consumption in 2014, with an
estimated share of XX%, followed by the residential sector with XX%. The commercial and
agricultural sectors contributed XX% and XX%, respectively, to total power consumption.
Figure 5: Power Market, Vietnam, Power Consumption by Sector (%), 2014
IndustrialResidential
Trade, commerce, and other services
Agriculture and fisheries
Source: GlobalData
Table 5: Power Market, Vietnam, Power Consumption by Sector (%), 2014 Sector Share
Industrial
Residential
Trade, commerce and other services
Agriculture and fisheries
Source: GlobalData
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Capacity and Generation Overview
6.2 Vietnam, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2025
Between 2000 and 2014, installed capacity increased at a CAGR of XX% from XX GW to XX GW.
Most of the growth was contributed by thermal power, which grew at a CAGR of XX%. It was
followed by hydropower, which increased at a CAGR of XX%.
In 2000, hydropower constituted XX%, or XXGW, of installed capacity. Thermal power constituted
XX%, or XX GW. Renewable power sources were in a very nascent stage at that time, contributing
only XX%, or XX GW.
During the 2015–2025 period, installed capacity is expected to grow at a CAGR of XX% from XX
GW to XX GW. Thermal power is expected to grow at a CAGR of XX%, representing XX% of
installed capacity in 2025. Hydropower is expected to grow at a CAGR of XX%, accounting for
around XX% of installed capacity. Renewable power is expected to grow from 0.4 GW to XX GW.
Renewable energy sources are expected to register the highest increase in capacity, increasing at
a CAGR of XX%. This is because the government is encouraging the installation of renewable
capacity. New wind power and biomass plant installations, combined with tax incentives and
benefits, are likely to result in a significant rate of adoption of renewable sources of energy over the
forecast period. Furthermore, Vietnam has undertaken a feasibility study of nuclear power, which
will further augment cumulative installed capacity. The nuclear power reactors expected to come
online after 2020 are expected to add about XX GW of generating capacity.
Power generation grew at a CAGR of XX%, from XX TWh in 2000 to XX TWh in 2014. In 2014,
thermal power was estimated to account for XX% of annual generation, while hydropower and
renewables were estimated to account for XX% and XX%, respectively. Power generation is
expected to grow at a CAGR of XX% from XX TWh to XXTWh between 2015 and 2025. During the
same period, renewable power generation is expected to grow at the rate of XX%, followed by
thermal power generation at XX%, while hydropower is expected to register a CAGR of XX%.
Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 30 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Capacity and Generation Overview
Figure 7: Power Market, Vietnam, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2025
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Annu
al p
ower
gen
erat
ion
(TW
h)
Cum
ulat
ive
inst
alle
d ca
paci
ty (G
W)
Cumulative installed capacity Annual power generation Source: GlobalData, Power Database [Accessed on June 22, 2015]
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Capacity and Generation Overview
Table 7: Power Market, Vietnam, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2025
Year Cumulative installed capacity Annual power generation
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Source: GlobalData, Power Database [Accessed on June 22, 2015]
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Appendix
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9 Appendix
9.1 Market Definitions
9.1.1 Power
Power refers to the rate of production, transfer or energy use, usually related to power. It is
measured in Watts (W) and often expressed in kilowatts (kW) or Megawatts (MW). It is also known
as real power or active power.
9.1.2 Installed Capacity
Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer, or
the maximum rated output of a generator under given conditions. It is given in Megawatts (MW) on
a nameplate affixed to the generator.
9.1.3 Electricity Generation
Electricity generation refers to the process of generating power from other forms of energy. It also
refers to the amount of power produced, expressed in Gigawatt hours (GWh).
9.1.4 Electricity Consumption
Electricity consumption is the sum of power generated, plus imports, minus exports and
transmission and distribution losses. It is measured in Gigawatt hours (GWh).
9.1.5 Thermal Power Plant
A thermal power plant is a plant in which turbine generators are driven by burning fossil fuels.
9.1.6 Hydropower Plant
A hydropower plant is a plant in which the turbine generators are driven by falling water.
9.1.7 Nuclear Power
Nuclear power is the energy released from the fission of nuclear fuel in a reactor.
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Appendix
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9.1.8 Renewable Energy Resources
Renewable energy resources are those that provide energy that is naturally replenished but limited
in the amount of energy available per unit of time. Biomass, geothermal, solar, small hydro and
wind are examples of renewable resources.
9.2 Abbreviations
Table 19: Abbreviations ASEAN Association of South East Asian Nations
CAGR Compound Annual Growth Rate
CCGT Combined-Cycle Gas Turbine
Ckm Circuit kilometer
DAS Distribution Automation System
ERAV Electricity Regulatory Authority of Vietnam
EVN Vietnam Electricity
FDI Foreign Direct Investment
FiT Feed-in Tariff
GDP Gross Domestic Product
GW Gigawatt
GWh Gigawatt hour
IPP Independent Power Producer
kV Kilovolt
kWh kilowatt hour
MoIT Ministry of Industry and Trade
MW Megawatt
NPT National Power Transmission
PVN Vietnam Oil and Gas Group or PetroVietnam
TWh Terawatt hour
VINACOMIN Vietnam National Coal and Mineral Industries Group
VVER Vodo-Vodyanoi Energetichesky Reaktor or Water-Water Energy Reactor
Source: GlobalData
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Appendix
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9.3 Bibliography
Chuan (2013). Current Status of Coal Demand and Supply in Vietnam and Plan of Vinacomin
in the Coming Time. Vietnam National Coal - Mineral Industries Holding Corporation. Available
from: http://www.jcoal.or.jp/coaldb/shiryo/material/day2_session2_3.pdf
CIA (2015). Vietnam: The World Factbook. Central Intelligence Agency. Available from:
https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html [Accessed on June
23, 2015]
IMF, 2015. International Monetary Fund, World Economic Outlook Database, April 2015
[database]. Available at:
http://www.imf.org/external/pubs/ft/weo/2015/01/weodata/weoselco.aspx?g=2001&sg=All+coun
tries [Accessed on June 23, 2015]
Minh T (2014a). “Nuclear power: The Vietnam - U.S. meeting”, VIETNAMNET Bridge, March
10, 2014. Available from: http://english.vietnamnet.vn/fms/special-reports/96839/nuclear-
power--the-vietnam---u-s--meeting.html [Accessed on June 22, 2015]
Minh HB (2014b). “Petrovietnam to import coal from 2017 for power plants”, Thomson Reuters,
February 10, 2014. Available from: http://uk.reuters.com/article/2014/02/10/vietnam-coal-
import-idUKL3N0LF36Y20140210 [Accessed on June 22, 2015]
Tuan NA (2012). A Case Study on Power Sector Restructuring in Vietnam. The National
Bureau of Asian Research, 2012. Available from:
http://www.nbr.org/downloads/pdfs/eta/PES_2012_summitpaper_Nguyen.pdf
Tuan HA (2013). Vietnam Experience in the IAEA Integrated Nuclear Infrastructure Review
Missions. Vietnam Atomic Energy Agency, Ministry of Science and Technology, Vietnam,
September 18, 2013. Available from:
http://www.iaea.org/NuclearPower/Downloadable/News/2013-09-19-
inig/INIR_SideEvent_Vietnam.pdf
US Commercial Service (2013). Vietnam Market for Power Generation, Transmission and
Distribution. US Commercial Service, US Department of Commerce, June 2013. Available
from:
Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 59 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
Appendix
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
http://export.gov/vietnam/build/groups/public/@eg_vn/documents/webcontent/eg_vn_063185.p
df
US Commercial Service (2014). Vietnam Market for Power Generation, Transmission and
Distribution. US Commercial Service, US Department of Commerce, June 2014. Available
from:
http://www.export.gov/vietnam/build/groups/public/@eg_vn/documents/webcontent/eg_vn_076
818.pdf
US Department of State (2013). 2013 Investment Climate Statement – Vietnam, Bureau of
Economic and Business Affairs, US Department of State, February 2013. Available from:
http://www.state.gov/e/eb/rls/othr/ics/2013/204760.htm [Accessed on June 23, 2015]
VietNamNet Bridge (2013), via VIR. “EVN power monopoly to be short-circuited”,
VIETNAMNET Bridge, December 11, 2013. Available from:
http://english.vietnamnet.vn/fms/business/91110/evn-power-monopoly-to-be-short-
circuited.html [Accessed on June 22, 2015]
Viet Nam News (2014). “Ministry revises 2013 FDI figure”, Viet Nam News, March 17, 2014.
Available from: http://vietnamnews.vn/economy/252415/ministry-revises-2013-fdi-figure.html
[Accessed on June 22, 2015]
VietnamPlus (2014). “Rural electrification programme sparks success”, VietnamPlus, Vietnam
News Agency (VNA), April 26, 2014. Available from: http://en.vietnamplus.vn/Home/Rural-
electrification-programme-sparks-success/20144/49395.vnplus [Accessed on June 22, 2015]
VP Bank Securities (2013). Vietnam Power Industry. VP Bank Securities, December 2013.
Available from: https://vpbs.com.vn/Handlers/DownloadReport.ashx?ReportID=1867
[Accessed on June 22, 2015]
WNA (2015). Nuclear Power in Vietnam. World Nuclear Association, May 2015. Available from:
http://www.world-nuclear.org/info/Country-Profiles/Countries-T-Z/Vietnam/ [Accessed on June
23, 2015]
World Bank (2015). Ease of Doing Business in Vietnam. The World Bank. Available from:
http://www.doingbusiness.org/data/exploreeconomies/vietnam/ [Accessed on June 23, 2015]
Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 60 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9.4 GlobalData’s Methodology
GlobalData’s dedicated research and analysis teams consist of experienced professionals with
advanced statistical expertise and marketing, market research and consulting backgrounds in the
energy industry.
GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and
Strategic and Competitive Intelligence Professionals (www.scip.org).
All of GlobalData’s databases are continuously updated and revised. The following methodology
has been followed for the collection and analysis of data presented in this report.
9.4.1 Coverage
This report covers Vietnam’s power market, examining the market structure and providing historical
generation, capacity and consumption forecasts until 2025. It also looks at the market’s regulatory
structure, import and export trends, competitive landscape and leading active and upcoming power
projects.
9.4.2 Secondary Research and Analysis
The capacity, generation and consumption data is collected and validated using a number of
secondary resources including but not limited to:
Government agencies, ministry websites, industry associations, the World Bank, IMF, and
statistical databases
Company websites, annual reports, financial reports, analyst reports and investor
presentations
Industry trade journals, market reports and other literature
GlobalData’s proprietary databases such as the Capacity and Generation Database, Power
Plant Database and Transmission and Distribution Database
Further to this, the following secondary information is collected and analyzed to project Vietnam’s
power market scenario to 2025, analyzing factors such as:
Macro-economic scenario
Government regulations, policies and targets
Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 61 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Government and private sector investment
Contract and deal announcements
Utility expansion plans
The sector’s historical track record
Other qualitative insights built through secondary research and analysis of company websites,
annual reports, investor presentations, industry and trade journals, and data from industry
associations
9.4.3 Primary Research and Analysis
Secondary research is further complemented through primary interviews with industry participants
to verify the market numbers obtained through secondary research and obtain first-hand
information on industry trends.
The participants are drawn from a diverse set of backgrounds, including power producers,
equipment manufacturers, industry associations, government bodies, utilities, distributors, and
academia. The participants include but are not limited to C-level executives, industry consultants,
academic experts, business development and sales managers, purchasing managers, plant
managers, government officials and industry spokespersons.
Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 62 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
Appendix
VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9.5 Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior
permission of the publisher, GlobalData.
This report is a licensed product and should not to be reproduced without prior permission.