1. Prime Minister approves Power Plan VIII

On 15 May 2023, the Prime Minister issued Decision No. 500/QD-TTg approving the National Power Development Plan for the period 2021 - 2030, with a vision to 2050 (Power Plan VIII).

2. The Government approves the Restructuring Plan of Vietnam Electricity until the end of 2025

Deputy Prime Minister Ho Duc Phoc signed Decision No. 1271/QD-TTg dated October 25, 2024, approving the Restructuring Plan of Vietnam Electricity until the end of 2025

The objective of the Plan is to develop Vietnam Electricity (EVN) into a strong economic group with sustainable, efficient and profitable business; preserve and develop state-owned equity invested in EVN and EVN capital invested in other enterprises; take primary responsibility for ensuring electricity for the economy and people's lives, ensuring national energy security, providing public products and services in the field of electricity supply according to regulations; play a central role in developing Vietnam Electricity; have modern technology, management and high specialization; Electricity production, trading, and electricity consulting are the core business activitie; closely linking production and trading with science, technology, research and development, and training; maximizing the efficiency of Vietnam Electricity.

Acting as the core for Vietnam Electricity to develop rapidly and sustainably, compete, and effectively integrate into the international economy.

Continuing to participate in perfecting and developing the electricity market according to the roadmap prescribed by the Government.

Strive for the EVN's total revenue to grow by an average of 7-10% by the end of 2025, pay the EVN's entire state budget over VND 23,000 billion/year and complete expenditures according to the 5-year Production, Business and Investment Development Plan for the period 2021-2025 approved by the Prime Minister in Decision No. 345/QD-TTg dated April 26, 2024.

Successfully build the image of a business that is responsible to the community and society, serving customers with increasingly better service quality.

3. Vietnam's power system scale ranks first in ASEAN in terms of power source capacity

By the end of 2024, the total installed power source capacity (COD) of the entire system will reach ~82,400 MW, an increase of ~1,500 MW compared to 2023, of which the total capacity of renewable energy sources (wind power, solar power) is 21,447 MW and accounts for 26%. Vietnam's power system scale is leading in ASEAN in terms of power source capacity and ranks 22nd worldwide.

4. Successfully completing task of supplying electricity to rural, mountainous, and island areas

By 2023, EVN had basically completed the Rural Electrification Program, ensuring electricity supply for the National Target Program on New Rural Development (Criterion No. 4). To date, 100% of communes, 99.83% of households, and 99.74% of rural households have access to the national grid.

In addition, EVN has directly supplied electricity to 11 out of 12 island districts nationwide. EVN is currently implementing the project to supply Con Dao with national grid power via an underground cable, which is expected to be completed in 2026.

5. Notable Achievements in Investment and Construction Activities

Regarding power generation, Vietnam Electricity (EVN) commissioned the Ialy Hydropower Plant Expansion (2 units with a total capacity of 360 MW) in 2024. In addition, EVN has been implementing the Hoa Binh Hydropower Plant Expansion project (2 units, total capacity of 480MW) on schedule, expected to be operational in 2025.

Regarding the power grid, the Quang Trach – Pho Noi 500kV Circuit 3 transmission line, 519km in length, was completed in just six months — a 'lightning speed' timeline — and inaugurated in August 2024, ensuring progress in line with the Prime Minister’s direction. This achievement is considered unprecedented compared to previous 500kV transmission line construction projects.

Prime Minister and delegates at the main bridge (Pho Noi 500kV Substation, Hung Yen Province) cut ribbon to inaugurate 500kV circuit 3 transmission line project

In 2024, several urgent grid projects for importing electricity from Laos to Vietnam will be energized, including the Dak Ooc 220kV switching station and the Nam Sum – Nong Cong 220kV transmission line.

In addition, Vietnam Electricity (EVN) is also expeditiously implementing several other major power grid projects, notably the 500kV Lao Cai – Vinh Yen transmission line project (approved under Decision No. 1274/QĐ-TTg dated October 26, 2024), which commenced construction in early 2025.

6. Promoting application of science and technology, achievements of 4.0 industrial revolution, and digital transformation

To date, all 110kV substations across EVN have been fully unmanned and remotely operated from 63 control centers in all provinces and cities nationwide, with several 110kV substations already digitalized. More than 80% of 220kV substations are also remotely operated.

Since 2021, EVN has developed and implemented the "Digital Transformation Project in Vietnam Electricity" with the basic target of completing digital transformation by 2022 and becoming a digital enterprise by 2025. With strong, decisive, and coordinated efforts, EVN has essentially achieved its transformation target in just two years.

Vietnam Electricity has expanded the integration and sharing of population data for 100% of EVN's level 4 online services provided on the National Public Service Portal.

EVN's EVNConnect digital ecosystem has also been developed with the target of enhancing connectivity with digital transformation platforms of the Government, ministries, branches, localities, and partners to maximize the country's common data sources and provide electricity services on these digital platforms.

For four consecutive years (2019–2022), EVN has been recognized as an outstanding digital transformation enterprise. Four products were awarded the Make in Vietnam recognition: two in 2022 and two in 2024. Many EVN units have also received prestigious awards for digital transformation, including the Vietnam Science and Technology Innovation Award (VIFOTEC).

Representative of the Central Power Electronic Meter Manufacturing Center was honored with Make in Viet Nam Award for Outstanding Digital Products in Digital Economy category

7. Continued strong changes in business and customer service

All electricity services (100%) are provided online at Level 4 via the National Public Service Portal, the Public Administration Center, and the provincial/city Public Service Portals.

The rate of electronic transactions of the whole EVN reached 99.53%.

EVN continues to reform administration, simplify procedures, and shorten the time required to supply electricity to new customers. In 2024, the time to connect medium-voltage electricity will be reduced to 2.47 days; low-voltage electricity connections will take 2.51 days for residential customers and 2.60 days for non-residential customers.

8. Innovation, restructuring, equitization, and implementation of electricity market on schedule

The National Load Dispatch Center was transferred from Vietnam Electricity (EVN) and the State Capital Management Committee at Enterprises to the Ministry of Industry and Trade. The transfer ceremony took place on August 12, 2024.

EVN continues to implement arrangements and restructure several units to better align with actual production and business activities.

EVN has also restructured its corporate governance and actively implemented measures to enhance corporate governance capacity under EVN’s Corporate Governance Enhancement Scheme through 2025, with a vision toward 2030.

9. National Assembly passes Electricity Law (amended)

On November 30, 2024, at the 8th Session of the 15th National Assembly, with 439/463 delegates participating in the vote in favor (accounting for 91.65%), the Electricity Law (amended) was passed.

The amended Law on Electricity comes into effect on February 1, 2025, consisting of 9 Chapters and 81 Articles, fully implementing and institutionalizing the spirit of Resolution No. 55-NQ/TW dated February 11, 2020, of the Politburo on the orientation of Vietnam's National Energy Development Strategy to 2030, with a vision to 2045.

The Law covers major policies, including electricity planning, the electricity market, and renewable energy development, ensures consistency with related laws, and supplements numerous regulations to address long-standing bottlenecks, such as mechanisms for implementing emergency electricity projects. It also clarifies the mechanism for handling and replacing slow-progressing electricity projects.

10. EVN – For developing community

Alongside the development of the power system, business growth, and improvements in customer service, EVN remains committed to social responsibility and community engagement.

During the COVID-19 pandemic period (2020–2022), the Vietnam Electricity industry successfully achieved the dual objectives of ensuring a stable power supply and epidemic prevention, while actively participating in community support activities, working together with the nation and customers to overcome difficulties and prevail over the pandemic.

EVN and its units also provide care and support for many Vietnamese Heroic Mothers, policy-beneficiary families, families of revolutionary contributors, and others.

EVN also regularly participates in social welfare activities, providing support to people in difficult circumstances and in areas affected by natural disasters and floods to help them overcome the aftermath of storms and flooding.

For many years, EVN has organized “Pink Week” to donate blood voluntarily, with thousands of blood units collected each year for “blood banks” nationwide... Over the 10 years of the EVN Pink Week program being organized (from 2015 to 2024), the total number of blood units collected is 94,844 units.

Translator: Hải Yến