Deputy PM hosts investors interested in LNG power development in Vietnam

February 12, 2020 | 10:02

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Deputy Prime Minister Trinh Dinh Dung on February 11 received a group of investors from the US and the Republic of Korea who are interested in liquefied natural gas (LNG) power development in Vietnam.

deputy pm hosts investors interested in lng power development in vietnam

At the reception (Photo: VNA)

At the reception in Hanoi, the Deputy PM acknowledged the serious intention of the investors, and affirmed that the Vietnamese Government always encourages and facilitates the participation of domestic and foreign firms in power projects in Vietnam.

He informed the guests that the demand for electricity in Vietnam is growing at an average 10 percent a year. Vietnam is diversifying its sources of power in the direction of reducing coal-fired power and raising the share of gas-fuelled power and renewable energy, Dung said, adding that gas-fired power is slated to account for 12 percent of total electricity generation, equivalent to 17,000 MW, by 2030.

Deputy PM Dung also said investment by US investors in Vietnam will contribute to improving the trade balance between the two countries.

The investors affirmed their wish to invest in LNG power projects in Vietnam to develop the clean energy source, ensure sufficient power supply for both production and consumption and expand the high quality workforce in the gas-fired power sector.

They said they had conducted thorough study of conditions related to investment, and pledged to make long-term and effective investment in LNG power projects in Vietnam.

VNA

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