Decision No. 538/QD-TTg 2021 approving the Development Strategy of Vietnam Electricity to 2030
EVN’s self-investment rate shall be greater than 30% by 2030
The Prime Minister issues the Decision No. 538/QD-TTg approving the Development Strategy of Vietnam Electricity to 2030, with a vision toward 2045 on April 01, 2021.
Accordingly, the EVN sets out its production and business result objectives by 2030 as follows: Annual production and business results are effective and profitable; at the same time, the State capital invested in EVN and EVN capital invested in other enterprises are preserved and developed; The paid debt to equity ratio is less than 3 times; Self-investment rate is greater than 30%; Short-term solvency is greater than or equal to 1 time.
Besides, EVN also sets out the objectives regarding power supply. Specifically, EVN shall take main responsibility in ensuring electricity for the economy and people's lives. Concurrently, develop smart, effective power grids synchronized with the power plants which can provide for additional loads with regional interconnectivity, ensuring safe power supply. By 2025, it shall meet N-1 criteria for important load centers; by 2030, N-2 criteria for extremely important load centers shall be met, etc.
This Decision takes effect on the signing date.
For further details of the Decision 538/QD-TTg, Click here
translation of the Official Gazette of the Vietnam News Agency
THE PRIME MINISTER
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - To freedom - Happiness
Hanoi, April 01, 2021
Approving the Development Strategy of Vietnam Electricity to 2030,
with a vision toward 2045
THE PRIME MINISTER
Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing a Number of articles of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;
Pursuant to the Law on Electricity dated December 3, 2004; the Law Amending and Supplementing a Number of Articles of the Law on Electricity dated November 20, 2012;
Pursuant to the Law on Management and Use of State Capital Invested in Production and Business at Enterprises dated November 26, 2014;
Pursuant to the Government's Decree No. 10/2019/ND-CP dated January 30, 2019 on the exercise of rights and performance of responsibilities of the State owner’s representatives;
Pursuant to the Government's Decree No. 26/2018/ND-CP dated February 28, 2018 on the Charter for Organization and Operation of Vietnam Electricity;
Based on results of the appraisal of the "Development Strategy of Vietnam Electricity to 2030, with a vision toward 2045" conducted by the Ministry of Planning and Investment, which are stated in the Report No. 6569/BKHDT-KTCN dated October 5, 2020;
At the request of the Chairperson of the Commission for the Management of State Capital at Enterprises,
Article 1. To approve the Development Strategy of Vietnam Electricity to 2030, with a vision toward 2045 (hereinafter referred to as the Strategy) with the following contents:
I. DEVELOPMENT PERSPECTIVES
1. The Vietnam Electricity (EVN) is an enterprise of which 100% charter capital is held by the State and an important material force of the State economy, contributing to economic development and realization of social progress and equality. The economic group shall be operated by the market mechanism, consider economic efficiency as its main evaluation criterion, self-control and take self-responsibility, and equally compete with the enterprises of other economic sectors in accordance with the legal regulations. It shall ensure publicity, transparency, and accountability. It shall separate the task of producing and trading ordinary commodities and services from the task of producing and supplying public commodities and services. It shall take advantage of every opportunity to proactively transform into a digital business.