The Decision of the Prime Minister approving the Vietnam Coal Industry Development Strategy to 2030, with a vision to 2045

On 16/01/2024, the Prime Minister issued Decision No. 55/QD-TTg approving the Vietnam Coal Industry Development Strategy until 2030, with a vision to 2045.

Accordingly, the viewpoint of developing Vietnam's coal industry to 2030, with a vision to 2045 is:

- To develop the coal industry on the basis of exploitation, processing, and effective and economical use of the country's coal resources; manage export and import appropriately in association with domestic production and consumption and ensure national energy security.

- To promote exploration and assessment activities of domestic coal resources and reserves to prepare a reliable resource base for investment in sustainable development of the coal industry.

- To develop the coal industry sustainably and effectively in a synchronous manner, consistent with the general development of domestic economic sectors; diversify investment methods for coal exploitation and trading. To maximize internal resources combined with expanding international cooperation to research, deploy and apply scientific and technical advances and modern new technologies, especially the achievements of the Fourth Industrial Revolution in management of exploration, exploitation, screening - processing, transportation and use of coal.

- To implement coal trade according to the market mechanism under State management, in harmony with the world coal market; gradually transform the coal market towards a fully competitive market and in accordance with international market practices.

- To develop the coal industry associated with protecting and improving the ecological environment, boosting cleaner production and circular economy, adapting to climate change, reducing greenhouse gas emissions and in accordance with national commitments in which Vietnam participates; in harmony with tourism development, minimizing impact on cultural conservation areas; positively contributing to socio-economic development; associated with the task of consolidating and strengthening national defense and security; ensuring safety in production.

- To research effective investments abroad to exploit coal (the type of coal that Vietnam must import) and bring it back to Vietnam for use in order to gradually reduce the amount of coal that must be imported; proactively seek stable, long-term coal import markets with large volumes to ensure competitive, effective prices and in accordance with the market and international practices to serve the development of appropriate domestic economic sectors according to each stage of development.

- To quickly deploy the construction of a large-scale port system, coal storage and transit warehouse. To implement appropriate coal reserves to meet requirements for production activities, especially electricity production.

Vietnam's coal industry development strategy also sets out goals and development orientations for: coal exploration and exploitation; coal screening and processing; coal market; safety and environmental protection work; infrastructure development to serve coal production and business.

In addition, the Decision also provides tasks, solutions and organization for implementation of the Strategy.

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