A shortage of electricity in Vietnam could impede the country’s target of 20 billion US$ in Foreign Direct Investment this year, a Vietnamese expert has said.
Doctor Le Dang Doanh of the Ministry of Planning and Investment said plans for power cuts by dominant state-run utility firm Electricity of Vietnam (EVN) could serve to dampen investment possibilities.
EVN, which said last month Vietnam may face a shortfall of nearly 1 billion Kwh this dry season, is now purchasing around 2% of its total electricity output from China.
He suggested state-owned power firms go public as soon as possible so that they will be more efficient in generating electricity to avert the shortage.
Not only FDI, but the country’s targeted economic growth rate of 8.5% would unlikely to be realized if the shortage goes on.
He also said that stabilizing the overheated stock market – whose benchmark index has soared over 1,000 points – is critical towards fulfilling the two targets.
Source: Thanh Nien
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