Vietnam targets 43% rise in coal exports

THE state owned Vietnam Coal Corp. (VCC), plans to raise its coal exports to around 10 million metric tons in 2004, up on the 7 million tons produced last year, to meet rising demand from overseas markets.

Staff Reporter

The VCC told Dow Jones Newswires the Ministry of Industry has approved a production target of 22 million tons of coal this year, up from 19 million tons last year.

The executive was quoted as saying: "We decided to raise the target output because we are seeing growing demand for coal products from domestic as well as foreign markets this year."

In the domestic market, Vietnam will supply more coal to the cement, fertilizer and electricity industries, all of which are expected to raise output about 15% this year.

Vietnam is also trying to boost coal exports to its major markets, such as China, Japan, South Korea and European countries, she added.

Last year, Vietnam exported 7.05 million tons of coal valued at $180 million, a 16.5% increase on year in terms of volume and a 15.4% increase in value.