Under its power development master plan, Vietnam plans to add 5,000 MW every year from now to 2020. Many foreign investors are eyeing power projects, such as Samsung C&T, which signed a Memorandum of Understanding (MoU) with the Ministry of Planning and Investment (MPI) in late September 2013, for the development of the 2.4 GW Quynh Lap II coal-fired power plant in the Dong Hoi Industrial Zone (Nghe An province). Samsung is also considering investing in the 1.2 GW coal-fired Vung Ang 3 in Ha Tinh province, 1.2 GW coal-fired Quang Trach 2 in Quang Binh, 2 GW coal-fired Song Hau 3 in Hau Giang and 1.2 GW coal-fired Kien Luong in Kien Giang provinces.
In September, the Ministry of Industry and Trade also signed an MoU with Sembcorp (Singapore) for a US$2bn coal-fired project, 1.2 GW Dung Quat power plant, in Quang Ngai province. The plant could be commissioned in two phases, in September 2020 and March 2021, and would generate 7 TWh/year. The Japanese company Sumitomo is negotiating with Hanoinco (Vietnam) for the development of the 2,640 MW Van Phong coal-fired project (4x660 MW) in the Khanh Hoa province. Sumitomo expects to sign a BOT (build, operation, transfer) contract with the Ministry of Industry and Trade in early 2014, to start construction in August 2015 and to commission the project in October 2019. Indian company Tata Power has been allowed to carry out the feasibility study on the 1.2 GWW Long Phu 2 coal-fired plant in Soc Trang province.