Meeting rapid electricity demand growth
Vu Van Thai
Ministry of Industry and Trade
Viet Nam is endowed with diverse primary energy resources: Proven reserves of Coal are 3.88 bil.tons (potential 37 bil.tons), Oil - 615-957 mil.tons ( potential 2.3 bil.tons ), Gas - 600 bil.m3 (potential 1,300 bil.m3). Hydropower potential: 60-80 bil.kWh. Renewable energy and Uranium.
In 2007 the national economy has continued to develop steadily, reaching a 10-year record high of 8.5 %. The agro-forestry and fishery sector has achieved an increase of 3.5 %, the construction and industrial sector (10.6 %), and the services sector (8.7 %).
Total social investment capital was estimated at VND464.5 trillion, representing an increase of 16.4 % from last year and making up 40.6 % of total GDP. Of the total amount, the population and private sector has made up 34.4 % (up 19.5 %) and the foreign direct investment sector 16.5 % (up 17.1 %).
Progress has also been made in social affairs, especially in poverty reduction to catch up with the implementation of other millennium development goals. The rate of poor households has dropped to 14.7 %, lower than the set target of 16 %.
The high consumer price index has affected business production and people’s daily lives