Promoting investment cooperation in renewable energy projects between Vietnam and the US
Overview of the working session
Speaking at the meeting, Mr. Nguyen Hoang Long - Deputy Minister of Industry and Trade affirmed that trade cooperation between the two countries has grown rapidly in recent times and the US is one of Vietnam's leading export markets.
In the past, Vietnam's development speed did not allow the import of US technology. However, up to now, Vietnamese enterprises have grown and it is the right time for Vietnam to import high-tech products. Deputy Minister Nguyen Hoang Long hopes that in the coming time, the two sides will actively work to complete the conditions related to strategic trade control, thereby helping Vietnam to import more from the US, especially for science and technology products.
Mr. Nguyen Hoang Long - Deputy Minister of Industry and Trade spoke at the meeting.
Deputy Minister Nguyen Hoang Long emphasized that the energy sector is one of the key and priority areas of cooperation between the two countries. At the COP 26 Conference, Vietnam made a strong commitment like other developed countries, which is to reduce net emissions to zero by 2050.
To fulfill this commitment, Vietnam has converted 2/3 of its coal-fired power projects into gas-fired power projects. In addition, the Vietnamese Government has assigned Petrovietnam to pilot an offshore wind power project. In the second quarter of 2025, Vietnam will complete the legal framework related to exploration and exploitation areas, etc., then open the wind power market for domestic and foreign private companies to invest. The pilot project plays a very important role, laying the foundation for other large offshore wind power projects, so Petrovietnam really needs the support of US companies and organizations in supporting financial resources.
Deputy Minister Nguyen Hoang Long affirmed that the Ministry of Industry and Trade and Vietnamese enterprises are ready to meet and work with US enterprises to jointly resolve difficulties with the goal of turning the economic, trade and investment cooperation between the two countries into a comprehensive strategic partnership.
Mr. Marc Evans Knapper – US Ambassador speaks
At the meeting, Mr. Marc Evans Knapper - US Ambassador emphasized the 30-year tradition of development cooperation between the US and Vietnam, and assessed Vietnam as a dynamic and potential market in Southeast Asia. US businesses are eager to cooperate and invest in businesses and companies in Vietnam in areas such as renewable energy, semiconductor manufacturing, high-tech products, etc.
Regarding the energy sector, Ambassador Marc Evans Knapper affirmed that renewable energy is a bright spot in the strategic cooperation relationship between the two countries. The US is proud to be a major partner of Vietnam in the energy sector and is committed to working closely with and supporting Vietnam in achieving its goal of net zero emissions by 2050.
Deputy Minister of Industry and Trade Nguyen Hoang Long; US Ambassador Marc Evans Knapper and Petrovietnam General Director Le Ngoc Son discussed promoting renewable energy projects between Vietnam and the US.
Within the framework of the working session, General Director of Vietnam Oil and Gas Group (Petrovietnam) Le Ngoc Son had discussions with the Deputy Minister of Industry and Trade and the US Ambassador on investment and promoting the progress of renewable energy projects in Vietnam in the context of the Government's approval of the Power Plan VIII, creating new development space for the energy sector, while opening up opportunities for international investors, including US investors.
Minh Duc
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Source: https://www.pvn.vn/chuyen-muc/tap-doan/tin/7c70d9e9-f2cc-4651-b91d-fee3cf2083b8
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