On February 1, 2026, in Washington, D.C., on the sidelines of the sixth round of negotiations on the Vietnam - US Fair and Balanced Reciprocal Trade Agreement, Acting Minister of Industry and Trade Le Manh Hung received Juan Ignacio Rubiolo, Chief Executive Officer of AES Corporation, for discussions on energy investment cooperation and other issues of mutual interest in Vietnam’s power sector.

At the meeting, AES leaders congratulated Acting Minister Le Manh Hung on his new position and reaffirmed the group’s commitment to long-term engagement, investment and business operations in Vietnam. AES acknowledged and highly appreciated the efforts of the Ministry of Industry and Trade in improving the policy framework for power sector development, viewing this as a key factor in building confidence and stability for international investors.

In his exchange with AES executives, Acting Minister Le Manh Hung stressed that Vietnam’s electricity demand is rising rapidly in parallel with the recovery and growth of the economy. Within the national power mix, LNG-fired power is identified as an important baseload source, contributing to energy security while serving as a bridge in the transition from traditional fossil fuel-based power generation to a cleaner and more sustainable energy system.

The Acting Minister noted that following the promulgation of the Law on Electricity, the Government has issued Decree No. 100/2025/ND-CP, while the Ministry of Industry and Trade has issued Circular No. 12/2025/TT-BCT and related documents, gradually completing the legal framework to promote the development of LNG power projects. The effective operation of the Nhon Trach 3 and Nhon Trach 4 power plants in 2025 is regarded as clear evidence of the feasibility of this model, thereby strengthening the basis for further refining mechanisms and policies for gas-fired power projects in the period ahead.

He reaffirmed that the consistent policy of the Vietnamese Government is to create a favorable, transparent and stable investment environment, while requiring projects to fully comply with legal regulations and ensure a harmonious balance of interests among the State, investors and society. In this spirit, the Ministry of Industry and Trade stands ready to coordinate and accompany enterprises within its mandate, while encouraging investors to proactively enhance risk management capacity and arrange appropriate financing to ensure effective project implementation.

Beyond energy cooperation, the Acting Minister suggested that AES, as a leading US energy group, continue to accompany Vietnam and lend its support during the negotiations of the reciprocal trade agreement between the two countries, thereby contributing to the consolidation of the Vietnam - US Comprehensive Strategic Partnership and promoting economic, trade and investment cooperation in a stable, fair and sustainable direction.

The meeting took place in a frank and constructive atmosphere, reflecting the determination of both sides to strengthen energy cooperation and make practical contributions to Vietnam’s goals of ensuring energy security and sustainable development in the coming period.

Earlier, also on the sidelines of the sixth round of negotiations on the Vietnam - US Fair and Balanced Reciprocal Trade Agreement, Acting Minister of Industry and Trade Le Manh Hung met with Roger Romulus Martella, Chief Executive Officer of GE Vernova. The discussion focused on orientations for substantive cooperation in the energy sector and other issues of mutual concern.