Prime Minister Nguyen Tan Dung and Minister of Industry and Trade Vu Huy Hoang have pledged sufficient and stable power stable supply for foreign investors in the 2015-16 period.

The government is encouraging the participation of many economic sectors, including the private one, in the construction of new power plants, and raising electricity prices following the market mechanism is one measure to make investment in power generation more attractive.

Workers of state-run power conglomerate Vietnam Electricity fix power lines on a power pole in Khanh Hoa Province on April 5, 2014.

"From now to 2016, the electricity price will be adjusted, as proposed by foreign investors, to follow the market rate," Minister Hoang asserted.

In reassuring investors who worry about the lack of electricity, Prime Minister Dung said Viet Nam will not face a power shortage between now and 2030.

Although some power projects have been delayed, which may result in power shortages in the south by 2018, the government has solutions for that.

He insisted on the market price of electricity with improved power quality, adding that the price hike roadmap will be transparent so that investors will be more confident when pouring money into the sector.

The bold statements of the senior Vietnamese state officials followed a proposal presented via a study by the European Chamber of Commerce in Viet Nam (EuroCham).

(Source: tuoitrenews)