Washington (VNA) – Vietnam and the US have set up acomprehensive energy cooperation partnership under a memorandum ofunderstanding (MoU) signed in Washington on September 30.

The document was inked by representatives of the Vietnamese Ministry ofIndustry and Trade (MoIT) and the US Department of State during a working tripto the US from September 30 to October 2 by a MoIT delegation.

The MoU is an important milestone in energy collaboration between the twocountries, opening up a new page of more intensive and comprehensivecooperation.

The document covers various cooperation areas in the energy sector, rangingfrom energy security, energy market development and energy transformation torelevant regulations and policies, energy management and energy technology andinfrastructure, including the role of public-private cooperation.

It establishes a clear collaboration framework andmechanism, thus facilitating specific partnerships between Vietnamese and USfirms, towards the goal of sustainable energy development in Vietnam.

Both sides hoped that the document will create the foundation for the buildingof cooperation roadmaps in specific energy sectors.

In an interview granted to the Vietnam News Agency (VNA), MoIT Minister TranTuan Anh highlighted the significance of the MoU as Vietnam needs to advancethe domestic energy sector to fuel its fast-growing economy.

Vietnam, therefore, would be a major market for US investors, he said, notingthat the Southeast Asian country considers the US an important partner not onlybecause of the growing bilateral trade ties but also because of the US’scutting-edge and environmentally-friendly technologies in energy and liquefiedgas in particular.

Anh further explained that Vietnam is an energy importer and greatly relies onimported liquefied gas to ensure its energy security.

The signing of the MoU reflects joint efforts in outlining common goals andbasic solutions to expand and deepen the mutually-beneficial cooperationbetween the two states, he said, adding that the document will create the mostfavourable conditions for businesses of both sides to exploit opportunities inthe respective markets.

FrancisR. Fannon, Assistant Secretary for the Bureauof Energy Resourcesat the US Departmentof State, said the MoU has created a clear and strong relationship.

The US regards this as the first step and looks forwards to the expansion ofmore cooperation areas in the future, he said.

According to Fannon, the US has programmes aiming to help foreign governments,including Vietnam, reach energy ambitions and people have many options on cleanenergy.

Such programmes have opened up opportunities for US private enterprises andimproved their confidence in investing in Vietnam, he said.

Following the signing ceremony, Anh handed over a document of the MoITto the US side, announcing that Vietnamese Prime Minister Nguyen Xuan Phuc hasagreed to assign AES Corporation to be the major investor of the 5 billion USDSon My 2 Gas Power Plant under a BOT contract. Once operational, the plant willneed to import nearly 2 billion USD worth of LNG from the US each year./.