Vietnam National Coal and Mineral Industries Group (Vinacomin) planned to raise its coal imports to 16-17 million tons next year from the expected 9 million tons in 2023 in order to meet expected power demand growth from utilities due to the country’s economic growth.

The imports will be completed through tendering, and 15 coal traders have been recently shortlisted by Vinacomin for the tenders.

Statistics from the General Statistics Office (GSO) of Vietnam showed that Vietnam's domestic coal production dropped by 2.9% year on year to 36.6 million tons in the first three quarters of this year. During the period, Vietnam’s coal imports rose by 54.8% year on year to around 38 million tons, according to provisional Customs statistics.