However state-owned enterprises will still hold a controlling stake in power projects above a certain size. Investment could be in a wide range of forms – IPPs, build-transfer, build-operate-transfer, joint ventures and joint stock companies.

It is estimated that Vietnam needs an additional 48.5 billion to 53 billion kWh of electricity by 2005 and between 88.5 billion and 93 billion kWh by 2010. To meet the rising demand, the government wants Electricity of Vietnam (EVN) and other investors to speed up the building of power plant projects and networks, upgrade and maintain power sources, and improve the effectiveness and efficiency of electricity networks. Development of the high voltage power transmission grid will be high priority, particularly the north-south 500kV lines.

Current plans include 37 power projects in the 2003-2010 period where the EVN will be the main investor, and 30 others controlled by non-EVN entities. There will be 14 other projects for the development of the 500KV power transmission lines between 2002 and 2010, considered a high priority, 70 projects to lay 220KV lines and 85 to build 220KV power stations.