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Vietnam seeks US investment in renewable energy

Energy is among potential fields for investment cooperation between Vietnamese and US firms, with Prime Minister Pham Minh Chinh announcing that Vietnam gives high priority to sustainable energy development to maintain national energy security and reduce greenhouse gas emissions, according to Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong. ​
Vietnam seeks US investment in renewable energy ảnh 1The Bac Lieu Wind Power Plant has 62 power turbines with a total estimated capacity of 99MW. (Photo: VNA)
Hanoi (VNA) – Energy is among potential fields forinvestment cooperation between Vietnamese and US firms, with Prime MinisterPham Minh Chinh announcing that Vietnam gives high priority to sustainable energydevelopment to maintain national energy security and reduce greenhouse gasemissions, according to Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong. 
At a recent Vietnam-US Business Summit in Hanoi, the VCCI leader said following the orientation, the Vietnam Chamber of Commerceand Industry (VCCI) has introduced its Green Index initiative with support fromthe United States Agency for International Development (USAID), aiming to promoteenvironmental institutional reform and sustainable investment activities.

Cong said he believes thatVietnamese and US enterprises have good chances for successful cooperation in liquefied natural gas, and clean and renewable energy in contribution to thecountries’ trade growth and energy security.

Director of the Ministry of Industry and Trade’s Departmentof Electricity and Renewable Energy Hoang Tien Dung noted Vietnam has set atarget that by 2030, renewable electricity will account for45 percent of the national power generation capacity, reflecting its orientation towardsrenewable energy.

The implementation of the power sourceand grid development programme will cost an estimated 14 billion USD, so Vietnam needs the participationof businesses, especially those from the US, in resources and technology sharing.

Ken Haig, Head of Energy and Environment Policy forAsia-Pacific & Japan at Amazon Web Services (AWS), suggested to boostinvestment attraction in the sector, Vietnam needs a long-term strategy.

He also expressed his support for increasing the use ofsolar and offshore wind power and hoped the US’s investment in renewable energyin Vietnam will contribute to the nation’s sustainable development in the timeto come.

Kris Karafa, Chief Operating Officer at Gen X Energy, said the firm is willing andready to pour capital into wind power projects, particularly offshore ones. Gen XEnergy has partnered with Binh Thuan province in many renewable energy projects./.
VNA

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