Development strategy of coal industry to 2030 approved

Coal output is expected to be between 45 and 50 million tonnes by 2030 (Photo: VNA)

Under the strategy, the industry will focus on exploration for upgrading existing coal resources along with new coal mines.

A goal set by the strategy is to start pilot exploitation in the Red River coal basin before 2040 so as to proceed with industrial-scale mining before 2050 if the trial is successful.

A coal market with many sellers and many buyers will be formed, while coal sources and suppliers will be diversified towards operating a fully competitive coal market after 2030.

The export and import of coal will be conducted in accordance with market demand and following the Government's direction to meet domestic coal demand, especially for electricity generation.

Regarding solutions to realise the strategy, the decision states that the legal framework for the coal industry will be completed in line with the energy market’s development stages towards the efficient exploitation and use of coal resources as well as in conformity with actual conditions, international practices and the country’s development trends.

A favourable and transparent environment will be established towards removing all obstacles to ensure transparent coal prices as decided by the market, the decision said.

At the same time, state-run enterprises, particularly those operating inefficiently, in the coal industry will be restructured, while negotiations will be conducted for aid from international partners in the process of just energy transition in the industry, in line with the country's energy transition trend towards net zero emission.

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