Vietnam needs to import about 60-100 million tons of coal per year in the period of 2025-2030, however, the difficulty in importing coal from Laos at present is the price issue. Therefore, it is necessary to find solutions to reduce the cost of selling coal from Laos to Vietnam, the price of Lao coal must be at least equal to the world price to be competitive.
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This is the content reported by Vietnamese Minister of Industry and Trade Nguyen Hong Dien at the meeting with Lao Prime Minister Sonexay Siphandone on April 8, 2024.
Minister Nguyen Hong Dien proposed that Laos consider solutions to reduce the price of coal from Laos to Vietnam to at least equal the world price through the following solutions: Lao coal mine owners should restructure the production process to be lean and efficient, invest in a conveyor system to transport coal across the border to reduce the cost of mining, production and transportation of coal; The Lao government should consider abolishing the coal export tax (10%) because this tax was issued to generate revenue for the government but in reality it will increase the price of Lao coal, leading to unsold coal and from there the government and businesses will have no revenue; The Lao government should invest in upgrading and expanding the existing routes from Calum to La Lay and from Calum to Lao Bao to improve transportation capacity compared to present.
Previously, at the meeting with Lao Minister of Energy and Mines Phosay Sayasone on April 6, the issue of coal prices was also mentioned by Minister Nguyen Hong Dien. The Minister said that Vietnam's demand for coal imports is very high and boosting coal exports is also the desire of Laos, but the most important thing is to focus on solving the issue of coal prices in a reasonable way. The two sides need to find solutions to reduce the cost of selling coal from Laos to Vietnam, the price of Lao coal must be at least equal to the world price to be competitive.
According to the memorandum of understanding between Vietnam and Laos in July 2023, Vietnam will import about 20 million tons of coal from Laos each year, depending on actual market conditions and the needs of each side.
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