PM welcomes Pacifico Energy’s investment in Vietnam’s renewable sector

09:43 | 14/03/2025 Investment Follow Ven.vn on

Prime Minister Pham Minh Chinh has welcomed the US-based Pacifico Energy (PE)’s plan and commitment to investing in Vietnam’s energy sector, particularly its survey for an offshore wind power project in the south central province of Binh Thuan province.

During a reception in Hanoi on March 12 for PE Chairman Nate Franklin, the PM affirmed Vietnam’s focus on fast and sustainable development and highlighted new and renewable energy as a strategic priority. He stated the Government is committed to enhancing cooperation with foreign investors, particularly those from the US, as part of efforts to strengthen the Vietnam – US Comprehensive Strategic Partnership.

The leader encouraged PE to expand investment and collaboration with Vietnamese businesses in green transformation, clean energy, and renewable energy, particularly regarding offshore wind and solar power projects. He also called for the company’s investment in Vietnam’s electricity grid and transmission infrastructure to bolster energy security.

Additionally, he urged PE to transfer advanced technology to support Vietnam’s clean and renewable energy development, assist in training high-quality human resources for the local sector, and provide input on the country’s related regulatory and policy improvements.

The PM noted that Vietnam and the US have a complementary economic relationship and called on PE to advocate for removing Vietnam from the US list of nations with restricted access to high-tech exports and for recognising Vietnam as a market economy.

PM welcomes Pacifico Energy’s investment in Vietnam’s renewable sector

Prime Minister Pham Minh Chinh receives Chairman of Pacifico Energy Nate Franklin

He assured investors that the Vietnamese Government maintains a business-friendly investment climate, protects the legitimate rights and interests of investors, and remains open to feedback to enhance cooperation and mutual understanding.

For his part, Franklin praised Vietnamese leaders’ guidance on improving its business environment as well as the active and effective assistance from its ministries and sectors for the business community.

He highlighted that among all Asian countries, Vietnam possesses uniquely advantageous wind energy resources, with its long coastline, strong wind speeds, and a seabed topography well-suited for offshore wind farm construction.

The business leader noted PE’s commitment to expanding its investment in Vietnam’s energy sector, including multi-billion-dollar offshore wind projects. He said the company looks to bring about advanced solutions to help Vietnam ensure energy security, attract high-tech FDI, develop semiconductors, supply power to data centres and AI training hubs, and drive its fast and sustainable economic growth.

Source: en.vietnamplus.vn

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