Vietnam imported more than 9.7 million tonnes of coal valued at 600 million USD over the past eight months, almost double the quantity in the same period last year.
Hanoi (VNA) – Vietnam imported more than 9.7 𓆏mil🎃lion tonnes of coal valued at 600 million USD over the past eight months, almost double the quantity in the same period last year, according to the latest statistics from the General Department of Customs.
This was an increase of 191 percent in volume and 107 percent in value over the same period last year and triple the target set earlier this year by the Ministry of Industry and Trade.
The country imported an average of 1.2 million tonnes of coal, worth over 75 million USD each month, according to the data.
Russia remained the biggest seller of coal to Vietnam with 2.8 million tonnes. Indonesia ranked second with 1.8 million tonnes and China third with 1.4 million tonnes.
Typically, the coal imported from Russia costs Vietnam only 63 USD per tonne, lower than Chinese coal at 71 USD per tonne.
The period’s high import volume was attributable to rising domestic demand, industry insiders said.
Increases in coal imports are unavoidable as local coal output might not increase significantly, they added.
According to a new master development plan for the coal sector by 2020 with a vision towards 2030, coal output will reach 47-50 million tonnes by 2020 and 55-57 million tonnes by 2030. But, domestic demand for coal would be double the local production output, around 112.3 million tonne by 2020 and 220.3 million by 2030.
Earlier this month, the ministry said the Government would consider gradually reducing overall imports as well as certain types of coal that were not in high demand.
Firms would be encouraged to import coal if they met with regulations, it said.-VNA
The coal industry needs investment of about 317.74 trillion VND (15.13 billion USD) to fulfill its development targets between now and 2020, said Nguyen Khac Tho, deputy director of the General Department of Energy.
Facing a lack of coal for power generation, Vietnamese state-owned enterprises are rushing to look for foreign coal suppliers, the English language news website VietNamNet Bridge reported on July 23.
Vietnam will become a coal importer in 2017 of 2.3 million tonnes for domestic electricity production, according to Nguyen Tien Chinh from the Vietnam Mining Science and Technology Association (VIMA).
The total capital demand of the domestic coal sector by 2030 would be around 269 trillion VND (11.9 billion USD), 2.5 times less compared with the previous master plan.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Illustrative image (Source: Internet)
