- Vietnam seeks external support to meet 14 billion energy investments mark
Energy investments are one of the potential domains for collaboration between firms in the US and those in Vietnam. The prime minister of Vietnam, Pham Minh Chinh, has made announcements that the country considers the growth of sustainable energy a top priority in its plans to ensure national energy security and greenhouse gas emissions.
Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Pham Tan Cong, reiterated that the VCCI had inaugurated the Green Index Initiative of Vietnam. The initiative, which was done with support from the United States Agency for International Development (USAID), aims to encourage “environmental, institutional reform and sustainable investment activities.”
The establishment of the power source and grid development programme is to cost 14 billion USD. This need, therefore, calls for the participation of businesses, specifically US-based firms, in a resource and technology sharing scheme.
The Head of Energy and Environment Policy for Asia-Pacific and Japan at Amazon, Ken Haig, also noted that Vietnam needs a long-term strategy to have an attractive investment posture for its energy plans. Haig also expressed his support towards increasing solar and offshore wind energy. He said this in the hope that US-owned renewable energy investments in Vietnam will aid in driving the country’s sustainable development in due time.