Experts from both home and abroad focused on the development of Vietnam ’s power market at a symposium in Hanoi on March 28.

The power sector has seen fast-growing development over the recent past, with an average output growth of 14 percent between 2010 and 2013 , serving the country’s socio-economic development and enabling over 98 percent of the total population to access electricity, heard the conference.

Domestic prices of electricity and coal have initially been adjusted in line with the market mechanism, delegates noted at the event.

However, participants heard that the sector still faces shortcomings in energy and investment distribution, in addition to the poor-quality of the national grid. The establishment of policies on gas and coal prices has been sluggish and legal documents have not been comprehensive enough.

In response to these challenges, participants suggested new policies to fix power prices in the market-oriented economy, thus raising economic effectiveness.

In boosting the power development, it is necessary to step up the restructuring of businesses operating in the fields of electricity, coal, oil and gas, new and renewable energy, as well as increase the private sector’s involvement in the area, they added.

Scientific research and application of new technologies in the field should also be furthered, especially those related to gas and coal exploration and exploitation.-VNA