"We are negotiating with many partners from these two countries on future coal imports," Hoa said, declining to name any of the partners it is working with.

"Although the government has assigned us as the main coal importer, other energy companies including Electricity of Vietnam Corporation and PetroVietnam are very actively in looking for coal supply sources," said Hoa.

Vinacomin is also considering buying coal mines in these two countries.

"But it must be approved by the central government," said Hoa.

The government has said clearly in its master plan for coal sector over 2012-2020 with vision to 2030 released in January that it will finance that, according to the chairman.

In late November last year, Hoa said Vietnam's annual coal exports would be cut to 8 million mt in 2013 and between 4 million mt and 5 million mt from 2015.

As it cuts its coal exports, Vietnam will move from being a net exporter to a net importer by 2015, when many new power, cement and steel plants are due to start operations.

Vietnam's annual imports would reach 5 million mt in 2015 and steadily increase after that, said Hoa.

Source: Platts