Vietnam Uses Energy Inefficiently

Wednesday,  November 28, 2012, 22:09 (GMT+7)
By Minh Duc – The Saigon Times Daily

HCMC – The increase in Vietnam’s energy demand is nearly twice higher the gross domestic product growth (GDP), which indicates that the country’s energy efficiency is low, blunting enterprises’ competitiveness, a ministry official said.

Speaking at a ceremony launching the energy efficiency campaign on Tuesday in Hanoi, Deputy Minister of Industry and Trade Tran Tuan Anh said that in developed countries, energy demand growth was similar to the GDP growth. This means that Vietnam’s energy use, especially in the manufacturing industry, is not efficient, which has eroded the competitiveness and sustainable development of enterprises in particular and of the economy in general, he added.

The energy efficiency campaign aims to create positive changes in energy use in manufacturing to rationalize the nation’s total energy consumption volume in the 2012-2015 period.

With technical support from the Embassy of Denmark and International Finance Corporation (IFC), the campaign seeks to heighten awareness on energy efficiency, reduce production costs, and increase the competitiveness of enterprises.

“This campaign is one of the major activities of the national target program on energy saving and efficiency as it serves as a foundation for the target of building a green economy,” Anh said.

According to statistics of the Ministry of Industry and Trade, there are around 1,200 major facilities consuming over 1,000 tons of oil equivalent (TOE) per year and accounting for 70-80% of the total energy consumption nationwide.

Besides, Vietnam targets to cut the energy consumption by 5-8% in the next three years, equivalent to 11-17 million TOE.

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