GDPE0795ICR- Vietnam Power Market Outlook Sample … · Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 9 ... include machinery

REFERENCE CODE GDPE0795ICR | PUBLICATION DATE JULY 2015

VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS,

AND COMPETITIVE LANDSCAPE

Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.

VIETNAM POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE

Executive Summary

Overview of Vietnam’s Power Sector

Vietnam’s power sector is one of the most rapidly

expanding in Southeast Asia. Gross Domestic

Product (GDP) grew from $XX billion in 2000 to

$XX billion in 2014 at a Compound Annual Growth

Rate (CAGR) of XX% (calculated at constant

rates). Power consumption increased at a CAGR

of XX%.

Power Market, Vietnam, Gross Domestic Product ($bn) and Annual Power Consumption (TWh), 2000–2014

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Ann

ual p

ower

con

sum

ptio

n (T

Wh)

GD

P ($

bn)

GDP (constant prices) Annual power consumption Source: GlobalData; IMF, 2015

Between 2000 and 2014, power consumption

increased at a CAGR of XX%, and generation

increased at a CAGR of XX%. In 2014,

consumption amounted to XX Terawatt hours

(TWh), and generation amounted to XX TWh.

Power Market, Vietnam, Annual Power Consumption and Generation (TWh), 2000–2014

2000 2007 2014

Annu

al p

ower

con

sum

ptio

n an

d ge

nera

tion

(TW

h)

Annual power consumption Annual power generation Source: GlobalData, Power Database [Accessed on June 23, 2015]

It is estimated that power consumption will

continue to grow in the 2015–2025 period but at a

slightly lower CAGR of XX%, which will still be high

enough to attract investment. The government is

researching investing in nuclear and renewable

power as possible ways of improving its power mix

and energy security. It even has ambitious plans

for the installation of a smart grid. It is currently

highly dependent on hydropower and thermal

power, which accounted for XX% and XX%,

respectively, of installed capacity in 2014.


Table of Contents


1 Table of Contents

1 Table of Contents ....................................................................................................................... 4

1.1 List of Tables ...................................................................................................................... 7

1.2 List of Figures ..................................................................................................................... 8

2 Introduction ................................................................................................................................. 9

2.1 GlobalData Report Guidance ............................................................................................ 10

3 Vietnam, Power Market, Snapshot ............................................................................................ 11

3.1 Vietnam, Power Market, Macro-economic Factors ............................................................ 11

3.2 Vietnam, Power Market, Supply Security .......................................................................... 13

3.3 Vietnam, Power Market, Opportunities .............................................................................. 14

3.4 Vietnam, Power Market, Challenges ................................................................................. 15

4 Vietnam, Power Market, Market Analysis .................................................................................. 16

4.1 Vietnam, Power Market, Supply Structure ......................................................................... 16

4.2 Vietnam, Power Market, Key Market Players .................................................................... 16

4.3 Vietnam, Power Market, Financial Deals ........................................................................... 17

4.3.1 Deal Volume and Value Analysis, 2004 to May 2015 .................................................... 17

4.3.2 Deals by Type, 2014 ..................................................................................................... 19

4.4 Vietnam, Power Market, Demand Structure ...................................................................... 19

4.4.1 Power Consumption by Sector, 2014 ............................................................................ 21

5 Vietnam, Power Market, Regulatory Scenario ........................................................................... 22

5.1 Vietnam, Power Market, Key Electricity Policies ................................................................ 22

5.1.1 Introduction of Competition in Power Market ................................................................. 23

5.1.2 Power Master Plan VII ................................................................................................... 23

5.2 Vietnam, Power Market, Renewable Energy Development ............................................... 24

5.3 Vietnam, Power Market, Energy Efficiency ........................................................................ 25

5.4 Vietnam, Power Market, Rural Electrification..................................................................... 25

5.5 Vietnam, Power Market, Nuclear Energy Policy ................................................................ 26


Table of Contents


5.6 Vietnam, Power Market, Foreign Investment Scenario ...................................................... 26

6 Vietnam, Power Market, Capacity and Generation Overview .................................................... 28

6.1 Vietnam, Power Market, Cumulative Installed Capacity by Fuel Type, 2014 ..................... 28

6.2 Vietnam, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2025 ........................................................................................................................ 29

6.2.1 Cumulative Installed Thermal Power Capacity and Annual Thermal Power Generation, 2000–2025 ................................................................................................................... 32

6.2.2 Cumulative Installed Hydropower Capacity and Annual Hydropower Generation, 2000–2025 ............................................................................................................................. 36

6.2.3 Cumulative Installed Nuclear Power Capacity and Annual Nuclear Power Generation, 2000–2025 ................................................................................................................... 39

6.2.4 Cumulative Installed Renewable Power Capacity and Annual Renewable Power Generation, 2000–2025 ................................................................................................ 41

7 Vietnam, Power Market, Transmission and Distribution Overview............................................. 45

7.1 Vietnam, Power Market, Transmission Overview .............................................................. 45

7.1.1 Smart Grid Plan ............................................................................................................. 46

7.2 Vietnam, Power Market, Distribution Overview.................................................................. 47

7.3 Vietnam, Power Market, Grid Interconnection ................................................................... 48

7.3.1 Electricity Imports and Exports, 2000–2014 .................................................................. 49

7.4 Vietnam, Power Market, Electricity Trading ....................................................................... 50

8 Vietnam, Power Market, Competitive Landscape: Snapshot of Leading Power Generating Companies ............................................................................................................................... 51

8.1 Key Company in the Vietnam Power Market: VietNam Electricity...................................... 51

8.1.1 Company Overview ....................................................................................................... 51

8.1.2 Business Description ..................................................................................................... 51

8.1.3 SWOT Overview ........................................................................................................... 52

9 Appendix................................................................................................................................... 56

9.1 Market Definitions ............................................................................................................. 56

9.1.1 Power ............................................................................................................................ 56


Table of Contents


9.1.2 Installed Capacity .......................................................................................................... 56

9.1.3 Electricity Generation .................................................................................................... 56

9.1.4 Electricity Consumption ................................................................................................. 56

9.1.5 Thermal Power Plant ..................................................................................................... 56

9.1.6 Hydropower Plant .......................................................................................................... 56

9.1.7 Nuclear Power............................................................................................................... 56

9.1.8 Renewable Energy Resources ...................................................................................... 57

9.2 Abbreviations .................................................................................................................... 57

9.3 Bibliography ...................................................................................................................... 58

9.4 GlobalData’s Methodology ................................................................................................ 60

9.4.1 Coverage ...................................................................................................................... 60

9.4.2 Secondary Research and Analysis ................................................................................ 60

9.4.3 Primary Research and Analysis..................................................................................... 61

9.5 Disclaimer ......................................................................................................................... 62


Table of Contents


1.1 List of Tables

Table 1: Power Market, Vietnam, Gross Domestic Product ($bn), Population (million), and Annual Power

Consumption (TWh), 2000–2020 ................................................................................................. 13

Table 2: Power Market, Vietnam, Market Share of Power Generation Companies (%), 2014 ..................... 17

Table 3: Power Market, Vietnam, Deal Value ($bn) and Number of Deals, 2004–May 2015 ....................... 18

Table 4: Power Market, Vietnam, Annual Power Consumption (TWh), 2000–2025 .................................... 20

Table 5: Power Market, Vietnam, Power Consumption by Sector (%), 2014 .............................................. 21

Table 6: Power Market, Vietnam, Cumulative Installed Capacity by Fuel Type (%), 2014........................... 28

Table 7: Power Market, Vietnam, Cumulative Installed Capacity (GW) and Annual Power Generation

(TWh), 2000–2025 ...................................................................................................................... 31

Table 8: Power Market, Vietnam, Leading Thermal Power Plants, 2015 .................................................... 33

Table 9: Power Market, Vietnam, Cumulative Installed Thermal Power Capacity (GW) and Annual Thermal

Power Generation (TWh), 2000–2025 ......................................................................................... 35

Table 10: Power Market, Vietnam, Leading Thermal Power Plants, 2015 .................................................... 37

Table 11: Power Market, Vietnam, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower

Generation (TWh), 2000–2025 .................................................................................................... 39

Table 12: Power Market, Vietnam, Upcoming Nuclear Power Reactors, 2020–2030 .................................... 40

Table 13: Power Market, Vietnam, Leading Renewable Power Plants, 2015 ............................................... 42

Table 14: Power Market, Vietnam, Cumulative Installed Renewable Power Capacity and Annual Renewable

Power Generation, 2000–2025 .................................................................................................... 44

Table 15: Power Market, Vietnam, Transmission Line Length (Ckm), 2000–2020 ........................................ 46

Table 16: Power Market, Vietnam, Distribution Line Length (Ckm), 2000–2020 ........................................... 48

Table 17: Power Market, Vietnam, Annual Electricity Imports and Exports (TWh), 2000–2014 ..................... 50

Table 18: Power Market, Vietnam, VietNam Electricity, SWOT Profile, 2015 ............................................... 53

Table 19: Abbreviations .............................................................................................................................. 57


Table of Contents


1.2 List of Figures

Figure 1: Power Market, Vietnam, Gross Domestic Product ($bn), Population (million), and Annual Power

Consumption (TWh), 2000–2020 ................................................................................................. 12

Figure 2: Power Market, Vietnam, Market Share of Power Generation Companies (%), 2014 ..................... 17

Figure 3: Power Market, Vietnam, Deal Value ($bn) and Number of Deals, 2004–May 2015 ....................... 18

Figure 4: Power Market, Vietnam, Annual Power Consumption (TWh), 2000–2025 .................................... 19

Figure 5: Power Market, Vietnam, Power Consumption by Sector (%), 2014 .............................................. 21

Figure 6: Power Market, Vietnam, Cumulative Installed Capacity by Fuel Type (%), 2014........................... 28

Figure 7: Power Market, Vietnam, Cumulative Installed Capacity (GW) and Annual Power Generation

(TWh), 2000–2025 ...................................................................................................................... 30

Figure 8: Power Market, Vietnam, Cumulative Installed Thermal Power Capacity (GW) and Annual Thermal

Power Generation (TWh), 2000–2025 ......................................................................................... 34

Figure 9: Power Market, Vietnam, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower

Generation (TWh), 2000–2025 .................................................................................................... 38

Figure 10: Power Market, Vietnam, Cumulative Installed Renewable Power Capacity (GW) and Annual

Renewable Power Generation (TWh), 2000–2025 ....................................................................... 43

Figure 11: Power Market, Vietnam, Annual Electricity Imports and Exports (TWh), 2000–2014 ..................... 49



Introduction

2 Introduction

Vietnam is a developing country that, in spite of political turmoil, has developed rapidly in the past

few decades. Its socialist republic form of government is governed through a centralized system,

dominated by the Vietnamese Communist Party. Over the last few decades, the government has

employed increasingly liberal development and economic initiatives. Vietnam joined the World

Trade Organization in 2007 and is a member of various other international organizations, including

the Asia-Pacific Economic Corporation, the Association of South East Asian Nations (ASEAN) and

the International Chamber of Commerce.

The economy, though liberalized, is still dominated by state-owned enterprises. In 2011, the

government launched its three-pillar economic reforms program, which proposes the restructuring

of public investments, state-owned enterprises and the banking sector. With these reforms the

government plans to transform Vietnam into a more export-oriented and competition-driven

economy. In 2014, Vietnam’s revenue from exports was $XX billion (CIA, 2015). Major export items

include machinery products, electronics, and crude oil. China and Japan are the current major

investors, and the government is endeavoring to establish trade relationships with other developing

nations.

In 2014, Gross Domestic Product (GDP) increased by XX% to $XX billion (at constant prices) (IMF,

2015). The economy is highly export driven and was affected negatively by the global economic

recession in 2008 and 2009. However, it has recovered considerably, and in 2014 exports

increased by XX% (CIA, 2015). The industrial sector was estimated to contribute a share of XX%

toward GDP. This resulted in the creation of new jobs and an increase in the labor force, which in

turn led to a decline in poverty. The service and agricultural sectors contributed XX% and XX%,

respectively, toward GDP (CIA, 2015).

The energy sector is managed by the Ministry of Industry and Trade (MoIT), which is responsible

for implementing some major reforms in the power sector with the aim of creating a competitive

market. A state-owned utility, Vietnam Electricity (EVN), is responsible for most of the generation,

transmission and distribution of power. Hydropower is used as the primary source of power

generation, contributing about XX% of installed capacity. Vietnam does use its domestic coal

resources for generation purposes; however, the best quality coal is exported.



Introduction

Vietnam’s coal reserves are depleting, and the government is looking to expand the energy mix.

There are many opportunities for developing renewable resources. Particular focus has been

placed on the development of wind power, since there is considerable natural wind power potential

that is yet to be harnessed. As part of the renewable energy policy, the government is planning to

focus on solar and geothermal potential as well; however, there are no concrete plans to produce

energy from these sources on a large scale in the next couple of decades. Renewable energy

sources currently account for XX% of installed power capacity. Vietnam is expected to record

substantial growth in the wind energy segment during the forecast period, as the average prices of

power generated from wind sources are now lower than the average prices of power generated

from gas sources.

2.1 GlobalData Report Guidance

The executive summary captures the key growth trends in Vietnam’s power market.

Chapter three provides a snapshot of the key parameters that impact Vietnam’s power sector,

as well as key points about the power market.

Chapter four provides an analysis of Vietnam’s power market.

Chapter five details the regulatory control of the power market and the inward foreign

investment scenario in Vietnam.

Chapter six provides information on Vietnam’s cumulative installed capacity and annual

generation trends, by individual generation source.

Chapter seven describes the power transmission and distribution infrastructure in Vietnam and

provides information on interconnectors with neighboring countries. The section also covers

power imports and exports and upcoming grid-related projects in Vietnam.

Note: All 2014 market numbers provided in the report are estimates, except where actual data were

available.



Market Analysis

4.4.1 Power Consumption by Sector, 2014

The industrial sector accounted for the highest share of total power consumption in 2014, with an

estimated share of XX%, followed by the residential sector with XX%. The commercial and

agricultural sectors contributed XX% and XX%, respectively, to total power consumption.

Figure 5: Power Market, Vietnam, Power Consumption by Sector (%), 2014

IndustrialResidential

Trade, commerce, and other services

Agriculture and fisheries

Source: GlobalData

Table 5: Power Market, Vietnam, Power Consumption by Sector (%), 2014 Sector Share

Industrial

Residential

Trade, commerce and other services

Agriculture and fisheries

Source: GlobalData



Capacity and Generation Overview

6.2 Vietnam, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2025

Between 2000 and 2014, installed capacity increased at a CAGR of XX% from XX GW to XX GW.

Most of the growth was contributed by thermal power, which grew at a CAGR of XX%. It was

followed by hydropower, which increased at a CAGR of XX%.

In 2000, hydropower constituted XX%, or XXGW, of installed capacity. Thermal power constituted

XX%, or XX GW. Renewable power sources were in a very nascent stage at that time, contributing

only XX%, or XX GW.

During the 2015–2025 period, installed capacity is expected to grow at a CAGR of XX% from XX

GW to XX GW. Thermal power is expected to grow at a CAGR of XX%, representing XX% of

installed capacity in 2025. Hydropower is expected to grow at a CAGR of XX%, accounting for

around XX% of installed capacity. Renewable power is expected to grow from 0.4 GW to XX GW.

Renewable energy sources are expected to register the highest increase in capacity, increasing at

a CAGR of XX%. This is because the government is encouraging the installation of renewable

capacity. New wind power and biomass plant installations, combined with tax incentives and

benefits, are likely to result in a significant rate of adoption of renewable sources of energy over the

forecast period. Furthermore, Vietnam has undertaken a feasibility study of nuclear power, which

will further augment cumulative installed capacity. The nuclear power reactors expected to come

online after 2020 are expected to add about XX GW of generating capacity.

Power generation grew at a CAGR of XX%, from XX TWh in 2000 to XX TWh in 2014. In 2014,

thermal power was estimated to account for XX% of annual generation, while hydropower and

renewables were estimated to account for XX% and XX%, respectively. Power generation is

expected to grow at a CAGR of XX% from XX TWh to XXTWh between 2015 and 2025. During the

same period, renewable power generation is expected to grow at the rate of XX%, followed by

thermal power generation at XX%, while hydropower is expected to register a CAGR of XX%.




Figure 7: Power Market, Vietnam, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2025

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Annu

al p

ower

gen

erat

ion

(TW

h)

Cum

ulat

ive

inst

alle

d ca

paci

ty (G

W)

Cumulative installed capacity Annual power generation Source: GlobalData, Power Database [Accessed on June 22, 2015]




Table 7: Power Market, Vietnam, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2025

Year Cumulative installed capacity Annual power generation

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Source: GlobalData, Power Database [Accessed on June 22, 2015]


Appendix


9 Appendix

9.1 Market Definitions

9.1.1 Power

Power refers to the rate of production, transfer or energy use, usually related to power. It is

measured in Watts (W) and often expressed in kilowatts (kW) or Megawatts (MW). It is also known

as real power or active power.

9.1.2 Installed Capacity

Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer, or

the maximum rated output of a generator under given conditions. It is given in Megawatts (MW) on

a nameplate affixed to the generator.

9.1.3 Electricity Generation

Electricity generation refers to the process of generating power from other forms of energy. It also

refers to the amount of power produced, expressed in Gigawatt hours (GWh).

9.1.4 Electricity Consumption

Electricity consumption is the sum of power generated, plus imports, minus exports and

transmission and distribution losses. It is measured in Gigawatt hours (GWh).

9.1.5 Thermal Power Plant

A thermal power plant is a plant in which turbine generators are driven by burning fossil fuels.

9.1.6 Hydropower Plant

A hydropower plant is a plant in which the turbine generators are driven by falling water.

9.1.7 Nuclear Power

Nuclear power is the energy released from the fission of nuclear fuel in a reactor.


Appendix


9.1.8 Renewable Energy Resources

Renewable energy resources are those that provide energy that is naturally replenished but limited

in the amount of energy available per unit of time. Biomass, geothermal, solar, small hydro and

wind are examples of renewable resources.

9.2 Abbreviations

Table 19: Abbreviations ASEAN Association of South East Asian Nations

CAGR Compound Annual Growth Rate

CCGT Combined-Cycle Gas Turbine

Ckm Circuit kilometer

DAS Distribution Automation System

ERAV Electricity Regulatory Authority of Vietnam

EVN Vietnam Electricity

FDI Foreign Direct Investment

FiT Feed-in Tariff

GDP Gross Domestic Product

GW Gigawatt

GWh Gigawatt hour

IPP Independent Power Producer

kV Kilovolt

kWh kilowatt hour

MoIT Ministry of Industry and Trade

MW Megawatt

NPT National Power Transmission

PVN Vietnam Oil and Gas Group or PetroVietnam

TWh Terawatt hour

VINACOMIN Vietnam National Coal and Mineral Industries Group

VVER Vodo-Vodyanoi Energetichesky Reaktor or Water-Water Energy Reactor

Source: GlobalData


Appendix


9.3 Bibliography

Chuan (2013). Current Status of Coal Demand and Supply in Vietnam and Plan of Vinacomin

in the Coming Time. Vietnam National Coal - Mineral Industries Holding Corporation. Available

from: http://www.jcoal.or.jp/coaldb/shiryo/material/day2_session2_3.pdf

CIA (2015). Vietnam: The World Factbook. Central Intelligence Agency. Available from:

https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html [Accessed on June

23, 2015]

IMF, 2015. International Monetary Fund, World Economic Outlook Database, April 2015

[database]. Available at:

http://www.imf.org/external/pubs/ft/weo/2015/01/weodata/weoselco.aspx?g=2001&sg=All+coun

tries [Accessed on June 23, 2015]

Minh T (2014a). “Nuclear power: The Vietnam - U.S. meeting”, VIETNAMNET Bridge, March

10, 2014. Available from: http://english.vietnamnet.vn/fms/special-reports/96839/nuclear-

power--the-vietnam---u-s--meeting.html [Accessed on June 22, 2015]

Minh HB (2014b). “Petrovietnam to import coal from 2017 for power plants”, Thomson Reuters,

February 10, 2014. Available from: http://uk.reuters.com/article/2014/02/10/vietnam-coal-

import-idUKL3N0LF36Y20140210 [Accessed on June 22, 2015]

Tuan NA (2012). A Case Study on Power Sector Restructuring in Vietnam. The National

Bureau of Asian Research, 2012. Available from:

http://www.nbr.org/downloads/pdfs/eta/PES_2012_summitpaper_Nguyen.pdf

Tuan HA (2013). Vietnam Experience in the IAEA Integrated Nuclear Infrastructure Review

Missions. Vietnam Atomic Energy Agency, Ministry of Science and Technology, Vietnam,

September 18, 2013. Available from:

http://www.iaea.org/NuclearPower/Downloadable/News/2013-09-19-

inig/INIR_SideEvent_Vietnam.pdf

US Commercial Service (2013). Vietnam Market for Power Generation, Transmission and

Distribution. US Commercial Service, US Department of Commerce, June 2013. Available

from:


Appendix


http://export.gov/vietnam/build/groups/public/@eg_vn/documents/webcontent/eg_vn_063185.p

df

US Commercial Service (2014). Vietnam Market for Power Generation, Transmission and

Distribution. US Commercial Service, US Department of Commerce, June 2014. Available

from:

http://www.export.gov/vietnam/build/groups/public/@eg_vn/documents/webcontent/eg_vn_076

818.pdf

US Department of State (2013). 2013 Investment Climate Statement – Vietnam, Bureau of

Economic and Business Affairs, US Department of State, February 2013. Available from:

http://www.state.gov/e/eb/rls/othr/ics/2013/204760.htm [Accessed on June 23, 2015]

VietNamNet Bridge (2013), via VIR. “EVN power monopoly to be short-circuited”,

VIETNAMNET Bridge, December 11, 2013. Available from:

http://english.vietnamnet.vn/fms/business/91110/evn-power-monopoly-to-be-short-

circuited.html [Accessed on June 22, 2015]

Viet Nam News (2014). “Ministry revises 2013 FDI figure”, Viet Nam News, March 17, 2014.

Available from: http://vietnamnews.vn/economy/252415/ministry-revises-2013-fdi-figure.html

[Accessed on June 22, 2015]

VietnamPlus (2014). “Rural electrification programme sparks success”, VietnamPlus, Vietnam

News Agency (VNA), April 26, 2014. Available from: http://en.vietnamplus.vn/Home/Rural-

electrification-programme-sparks-success/20144/49395.vnplus [Accessed on June 22, 2015]

VP Bank Securities (2013). Vietnam Power Industry. VP Bank Securities, December 2013.

Available from: https://vpbs.com.vn/Handlers/DownloadReport.ashx?ReportID=1867

[Accessed on June 22, 2015]

WNA (2015). Nuclear Power in Vietnam. World Nuclear Association, May 2015. Available from:

http://www.world-nuclear.org/info/Country-Profiles/Countries-T-Z/Vietnam/ [Accessed on June

23, 2015]

World Bank (2015). Ease of Doing Business in Vietnam. The World Bank. Available from:

http://www.doingbusiness.org/data/exploreeconomies/vietnam/ [Accessed on June 23, 2015]


Appendix


9.4 GlobalData’s Methodology

GlobalData’s dedicated research and analysis teams consist of experienced professionals with

advanced statistical expertise and marketing, market research and consulting backgrounds in the

energy industry.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and

Strategic and Competitive Intelligence Professionals (www.scip.org).

All of GlobalData’s databases are continuously updated and revised. The following methodology

has been followed for the collection and analysis of data presented in this report.

9.4.1 Coverage

This report covers Vietnam’s power market, examining the market structure and providing historical

generation, capacity and consumption forecasts until 2025. It also looks at the market’s regulatory

structure, import and export trends, competitive landscape and leading active and upcoming power

projects.

9.4.2 Secondary Research and Analysis

The capacity, generation and consumption data is collected and validated using a number of

secondary resources including but not limited to:

Government agencies, ministry websites, industry associations, the World Bank, IMF, and

statistical databases

Company websites, annual reports, financial reports, analyst reports and investor

presentations

Industry trade journals, market reports and other literature

GlobalData’s proprietary databases such as the Capacity and Generation Database, Power

Plant Database and Transmission and Distribution Database

Further to this, the following secondary information is collected and analyzed to project Vietnam’s

power market scenario to 2025, analyzing factors such as:

Macro-economic scenario

Government regulations, policies and targets


Appendix


Government and private sector investment

Contract and deal announcements

Utility expansion plans

The sector’s historical track record

Other qualitative insights built through secondary research and analysis of company websites,

annual reports, investor presentations, industry and trade journals, and data from industry

associations

9.4.3 Primary Research and Analysis

Secondary research is further complemented through primary interviews with industry participants

to verify the market numbers obtained through secondary research and obtain first-hand

information on industry trends.

The participants are drawn from a diverse set of backgrounds, including power producers,

equipment manufacturers, industry associations, government bodies, utilities, distributors, and

academia. The participants include but are not limited to C-level executives, industry consultants,

academic experts, business development and sales managers, purchasing managers, plant

managers, government officials and industry spokespersons.


Appendix


9.5 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any

form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior

permission of the publisher, GlobalData.

This report is a licensed product and should not to be reproduced without prior permission.

Documents

GDPE0795ICR- Vietnam Power Market Outlook Sample … · Vietnam Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 9 ... include machinery