Thac Ba Hydropower Joint Stock Company annually pays about 80 billion VND of tax, excluding service fees

With endless streams of water, streams in Yen Bai not only provide water, develop waterways, fish and other aquatic resources, but also provide an ideal place to build medium and small hydropower plants. Because these streams are of steep slope, located among high mountain slopes and far from the residential area, which help projects of hydropower implement quickly; short dams; small water reservoirs, less impact on the environment… The high rate of forest cover in Yen Bai is also favourable, because of the abundant forest, the water source will be relatively stable, helping to generate electricity  continuously, especially during the dry season.

All these advantages and potentials have been recognized by investors, especially after the Ministry of Industry (now the Ministry of Industry and Trade) announced the development plan of small and medium hydropower in Yen Bai province. Accordingly, Yen Bai will have 88 hydroelectric projects with total installed capacity of 265,176 MW, not including Thac Ba Hydro Power Plant ( operated since 1971), capacity of 120 MW.

Up to now, Yen Bai has issued 25 investment certificates and the agreement to survey 23 hydropower projects. Of the 25 projects, many of them have completed with the total capacity of  generating power 201 MW, including Hung Khanh, Nam Dong III and IV, Nam Tuc I, Ngoi Hut I, Muong Kim, Ho Bon, Van Chan, Hat Luu, Ngoi Hut II and Khao Mang Thuong; Four projects are under construction, including: Noong Phai, Khao Mang, Lang Bang, Ngoi Hut 2A.

Just over one third of the projects have been completed, the plants goes into production but hydropower has contributed significantly to the economy. According to statistics, in 2015, the hydropower projects produced 1.089 million kWh, in 2016 the hydropower projects produced 1.240 million kWh, accounting for 16% of the industrial production value of the province.

Especially, in the field of budget collection, hydropower companies are always the largest taxpayers in Yen Bai. Total revenues from hydropower in 2015 was  172.443 billion VND, in 2016 was  217.516 billion VND (excluding Thac Ba Hydropower).

Thac Ba hydropower, the first work of the Vietnam hydropower sector, is the largest contributor to the tax revenue with the paid amount in 2016 of over 80 billion VND. Van Chan hydropower plant with the capacity of 57 MW, contributed 33.066 billion VND in 2015, accounting for 30% of the total budget revenue of Van Chan district.

The assessment of the industry and trade sector shows that thanks to the favorable terrain and the project investors have fully realized the provisions of Decree No. 72/2007/ND-CP dated 7/5/2007 of the government, so Hydropower projects are very safe, less damage the environment, create a spectacular landscape that help people in the region develop economy.