Vietnam encourages US enterprises to invest in energy

Friday, 2019-11-15 09:34:38
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Deputy PM Trinh Dinh Dung (R) receives Chief Executive Officer of US-based Gen X Energy Scott Kicker in Hanoi. (Photo: VGP)
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NDO – Deputy Prime Minister Trinh Dinh Dung has affirmed that Vietnam encourages US enterprises toinvest in the energy sector at a reception for Chief Executive Officer of US-based Gen X Energy Scott Kicker at the Government Office on November 15.

The company is learning about the investment in a liquefied natural gas (LNG) project in Vietnam worth over US$6 billion.

Deputy PM Dung appreciated Gen X Energy for theirattention to investing in LNG energy in Vietnam. He affirmed that Vietnam considered the US as one of its leading partners and the Vietnam-US comprehensive partnership has continued to be promoted effectively, particularly the trade and investment cooperation.

The two countries signed a Memorandum of Understanding on the energy sector in addition to the implementation of a number of cooperation mechanisms to increase cooperation in this area.

The Deputy PM said that Vietnam is restructuring its power sources towards diversifying the materials for power production to ensure energy security, includingthe development of renewable energy and LNG.

He asked Gen X Energy to continue to work closely with Vietnamese partners and relevant agencies to prepare for the LNG project.

Chief Executive Officer of US-based Gen X Energy Scott Kicker said that thanks to efforts and determination of the Vietnamese Government, the investment and business environment in Vietnam has been improved and become more attractive to large investors particularly in the energy sector.

He also valued the Vietnamese Government's solutions to balance power supply and demand and diversifysources of electricity production materials to ensure adequate energy supply for the economy.

He affirmed that his company would closely coordinate with partners and relevant agencies in Vietnam to quickly implement preparations for the project.