US Deputy Secretary: 8 billion USD waiting for clean electricity to enter Vietnam

US Deputy Secretary of State Jose Fernandez said 15 companies want to invest $8 billion if Vietnam ensures clean electricity supply.

"This is an opportunity right now. They are ready to invest but face obstacles when they have committed to shareholders and customers to only use renewable energy, they are waiting for this energy system in Vietnam to develop and expand," US Under Secretary of State for Energy, Economic Growth and Environment Jose W. Fernandez informed the press on the afternoon of January 26 during a working trip to Vietnam.

These 15 companies, including semiconductor companies, want to invest in clean energy infrastructure, he said. In addition to clean electricity, these companies are also waiting for permits to continue their investment plans.

Prime Minister Pham Minh Chinh received US Deputy Secretary of State Jose Fernandez on the afternoon of January 25. Photo: VGP

Mr. Jose W. Fernandez is on a business trip to three Asian countries, with Vietnam as the first stop, followed by the Philippines and South Korea. Mr. Fernandez's trip to Vietnam is part of the US plan to implement the agreements in September when the two countries officially upgraded their relations.

"Semiconductors are the focus of my visit," he said. He also focused on increasing trade opportunities, promoting clean energy, and supply chain cooperation.

He said that the meetings with Prime Minister Pham Minh Chinh yesterday, along with leaders of ministries and sectors, mainly discussed chips, rare earths and clean energy.

"My message to Vietnamese leaders is to seize the opportunity right now. There is competition in the world, if Vietnam wins it will be very beneficial," he said.

Deputy Minister Jose Fernandez also said that the US will cooperate and support Vietnam in achieving its goals with the semiconductor industry. One of them is to train 50,000 engineers for this industry.

"Many companies told us that they want to come to Vietnam but cannot find a qualified, quality workforce," he said, adding that the labor shortage also occurs in the US.

Duc Minh

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