Representatives from Vietnam’s Northern Power Company, a subsidiary of state power provider EVN, have met with representatives of Samsung Vietnam to discuss the South Korean manufacturers electricity usage and supply. Local media reporting covering the meeting has been vague but there has been some acknowledgement that this may be linked to possible power supply problems as usage peaks over summer.
Last year, summer power shortages were estimated to have cost Vietnam’s economy US$1.4 billion. These shortages were attributed to water shortages for hydropower and a lack of a sufficient supply of coal, however, underinvestment in power infrastructure appears to have been the main culprit.
The government has gone to great lengths to assure foreign investors that the supply will be adequate this year, however, moves to eek out support from foreign investors in reducing their power consumption seems to suggest otherwise–Just weeks ago, it was reported that Apple supplier Foxconn had been asked to curtail its power usages by 30 percent in anticipation of power shortages.
See also: Electricity in Vietnam: Foreign Investor Cheat Sheet 2024