Vietnam imported coal to the tune of US$669 million in January, up from US$497 million in December, a change of 34.57 percent, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had imported US$669 million worth of coal by the end of January.
Australia accounted for US$310 million worth of Vietnam’s coal imports in January. This was up from US$182 million in coal imports in December, a change of 70.64 percent. Year to date, Australia has shipped US$310 million worth of coal to Vietnam.
After Australia, Indonesia making up US$187 million worth of Vietnam’s coal imports in January. This was up from US$184 million in coal imports in December, a change of 1.39 percent. Year to date, Indonesia has shipped US$187 million worth of coal to Vietnam.
Next was Russia, contributing US$75 million worth of Vietnam’s coal imports in January. This was down from US$96 million in coal imports in December, a change of 21.39 percent. Year to date, Russia has shipped US$75 million worth of coal to Vietnam.
Following Russia was Laos, representing US$10 million worth of Vietnam’s coal imports in January. This was up from US$6 million in coal imports in December, a change of 59.93 percent. Year to date, Laos has shipped US$10 million worth of coal to Vietnam.
Rounding out the top five was China, constituting US$8 million worth of Vietnam’s coal imports in January. This was up from US$7 million in coal imports in December, a change of 4.53 percent. Year to date, China has shipped US$8 million worth of coal to Vietnam.
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Vietnam imports of coal in January, US$m
| January | December | MoM | YTD | |
| Total | 669.27 | 497.35 | 34.57% | 669.27 |
| Other | 79.72 | 22.34 | 256.77% | 79.72 |
| Australia | 310.09 | 181.72 | 70.64% | 310.09 |
| Indonesia | 186.53 | 183.96 | 1.39% | 186.53 |
| Russia | 75.10 | 95.54 | -21.39% | 75.10 |
| Laos | 10.02 | 6.26 | 59.93% | 10.02 |
| China | 7.81 | 7.47 | 4.53% | 7.81 |
| Malaysia | 0.00 | 0.05 | -100.00% | 0.00 |
Listed coal companies
Key coal firms listed on the Vietnam stock exchange include:
PetroVietnam Power Corporation
PetroVietnam Power Corporation (POW) operates gas, coal, and hydropower plants supplying electricity to the national grid.
POW closed at VND 13,200 on Wednesday, up 0.25 percent with 73,116,000 shares traded, worth VND 96,241 million.
Foreign ownership in POW is currently capped at 59.5 percent, with current foreign ownership sitting at 5.9 percent.
Pha Lai Thermal Power JSC
Pha Lai Thermal Power JSC (PPC) operates coal-fired power plants generating electricity for northern Vietnam.
PPC closed at VND 10,000 on Wednesday, up 0.01 percent with 2,846,000 shares traded, worth VND 2,846 million.
Foreign ownership in PPC is currently capped at 49.0 percent, with current foreign ownership sitting at 4.5 percent.
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Vietnam coal news
Recent developments include:
Power plant delays
Vietnam is weighing whether to proceed with or terminate the 1,980 megawatt BOT Vinh Tan 3 coal-fired power plant, which is currently stalled.
The project in Lam Dong province has cleared all land compensation, with about 56 hectares allocated for the plant and nearly 59 hectares for ash disposal, but construction has not begun.
The BOT Vinh Tan 3 thermal power project traces back to April 15, 2009, when Vinh Tan 3 Energy Joint Stock Company was first issued its business registration and tax certificate.
Coal power revenue Lam Dong
Lam Dong province has asked the Ministry of Industry and Trade to maximise electricity output at the Vinh Tan Power Centre to support budget revenue and target GRDP growth above 10 percent.
The centre’s four coal-fired plants, with total capacity of 4,284 megawatts, produced 22,537 million kilowatt-hours in 2025, 17.54 percent below the assigned plan.
As a result, revenue fell to VND 38.97 trillion (US$1.48 billion), down VND 2.669 trillion (US$101 million) from 2024, according to the provincial government.
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Vietnam’s coal industry
Coal remains a central component of Vietnam’s energy mix, supplying a significant share of electricity generation and supporting heavy industries such as cement, steel and chemicals.
Domestic production is concentrated in the northern provinces, particularly Quang Ninh, while imports have risen in recent years to meet growing demand from coal-fired power plants.
State-owned Vietnam National Coal and Mineral Industries Group plays a dominant role in mining, processing and distribution, alongside several private and joint stock operators.
The sector faces increasing pressure from environmental regulations, energy transition commitments and financing constraints, even as coal continues to underpin short- to medium-term power supply security.