EVN commits to ensuring power supply for double-digit economic growth

Prime Minister Pham Minh Chinh presides over the conference “Enterprises Contributing to Double-Digit Growth and the Prime Minister's Gratitude to Enterprises” (Source: VGP)

On March 27, the conference “Enterprises Contributing to Double-Digit Growth and the Prime Minister's Gratitude to Enterprises” took place, chaired by Prime Minister Pham Minh Chinh. Attendees included Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung, along with leaders from various ministries and representatives from the business community.

Enterprises as the Central Entity

At the conference, the Prime Minister emphasized that entering the 2026-2030 phase, the 14th Party Congress continues to affirm the goal of achieving an average growth rate of 10% or more. This is a mandate from the nation, propelling the country firmly into a new era—an era of wealth, prosperity, and civilization. However, both domestic and international contexts present challenges such as increasing trade protectionism, geopolitical conflicts, climate change, population aging, resource depletion, and energy transition.

In this process, the Party and State will continue to refine mechanisms, institutions, and policies, but enterprises remain the central entity. Therefore, businesses must contribute to innovation, institutional development, and recognize their role in the rapid and sustainable development of the country.

Emphasizing the goal of double-digit growth requires the effort and participation of the business community, the Prime Minister affirmed that the Government listens to businesses with sincerity, shares with them from the heart, acts with tangible products, and resolves difficulties and obstacles for businesses to contribute to achieving the two strategic 100-year goals.

Chairman of EVN's Member Council Dang Hoang An speaks at the conference. (Source: VGP)

Sustainable Energy Sector Development

Speaking at the conference, Chairman of EVN's Member Council Dang Hoang An stated that as a state-owned enterprise primarily responsible for ensuring the power supply for the economy and society, EVN has gradually overcome difficulties and addressed internal limitations, maintaining power supply to support high economic growth.

Currently, Vietnam's power system ranks second in Southeast Asia and 22nd globally, with a total installed capacity of 87,600 MW. The technical economic indicators of the power system are maintained among the top four ASEAN countries. Regarding electricity access, the World Bank's Doing Business report ranks Vietnam's electricity service quality second in Southeast Asia after Singapore.

According to EVN leadership, customer service improvements are being implemented through digital transformation and automation. Currently, 12 electricity services are provided online at level 4. Since 2021, cashless electricity bill payments have reached 99.95%. The power system is automated with nearly 1,000 110 kV substations, nearly 200 220 kV substations, and 35 500 kV substations operating automatically, contributing to increased productivity and modernization of management.

Over the past five years, EVN has maintained significant investment in power generation and grid development, with a total investment of nearly 500 trillion VND. In 2024 alone, the total investment reached 112.892 trillion VND, and in 2025 it is projected to be 125.778 trillion VND. As a result, the percentage of households with electricity access is 99.85%, with rural areas at 99.77%. EVN's revenue in 2024 reached 645 trillion VND, contributing over 26 trillion VND to the state budget.

Over the past five years, EVN has implemented many key power projects. (Source: EVN)

Several Key Objectives

According to Dang Hoang An, in the coming period, EVN identifies the crucial task of ensuring power supply for the economy to achieve double-digit growth. Simultaneously, the Group will continue investing in power generation and grid development according to the adjusted Power Plan VIII and projects assigned to EVN.

“In the context of the economy maintaining high growth momentum, the demand for electricity and energy is forecasted to continue increasing strongly, requiring the joint effort of the entire society to ensure sustainable energy sector development…”, stated the Chairman of EVN's Member Council.

Additionally, based on the major objectives in the Politburo's Resolution 79 on state economic development, EVN has set several important goals. Firstly, by 2030, or possibly sooner, EVN aims to become a company listed in the Forbes Global 500. With positive prospects, this goal is likely to be realized before the 2030 milestone.

Secondly, transition to applying OECD governance standards to enhance transparency and efficiency in corporate governance.

Thirdly, regarding economic-technical indicators, EVN aims to rise to the Top 3 in the ASEAN region, with some indicators striving to reach the Top 2 in ASEAN.

Fourthly, continue to increase investment in power generation and grid development. The EVN Party Congress Resolution for the 2025-2030 term sets out that the Group will allocate approximately 5 billion USD annually for investment. Accordingly, the total investment for the next five years is expected to maintain around 25 billion USD, implementing large-scale power generation and grid projects, notably the Ninh Thuan 1 Nuclear Power Project, offshore wind power projects...

Fifthly, continue to promote energy transition towards green development, modernize existing power plants, including thermal power, while implementing new energy projects and promoting the development of science and technology.