Given the increasing demand for electricity, Vietnam needs US$8-10 billion for electricity investment annually, Minister of Industry and Trade Tran Tuan Anh said at a meeting on Monday, September 7.

Since the government is pursuing a consistent policy not to sacrifice the environment for economic development, coal-fired thermopower projects will no longer be developed.

Vietnam's most important hydropower reservoirs are lacking a total of 11 billion cubic meters of water compared to normal levels.

The solution of using electricity from oil-run power sources will increase the production cost by VND14 trillion, which will put pressure on electricity prices.

Installed power capacity has increased sharply in recent years, but Vietnam is still suffering from an electricity shortage.

In the context of a serious electricity shortage, importing electricity from China is unavoidable.

Solar power is booming in Vietnam, but the output is not high enough to satisfy domestic demand.

The demand for electricity merchandise will be high in the upcoming years: 235 billion kwh, 352 billion kwh and 506 billion kwh by 2020, 2025 and 2030, respectively.

The Ministry of Industry and Trade (MOIT) said Vietnam will have to increase the import of electricity from Laos and China.