Is this a signal that the wave of large-scale energy investment from the United States into Vietnam is entering an acceleration phase after many years of waiting?
During his business trip to the United States, Minister of Industry and Trade Le Manh Hung had working meetings with Exxon Mobil and GE Vernova to promote investment, trade and development cooperation in energy projects between Vietnam and the United States. This is considered an important activity in the context that Vietnam is promoting energy security, implementing Power Plan VIII and expanding cooperation with the world's leading energy corporations.
Regarding Exxon Mobil, Minister Le Manh Hung highly appreciated the group's contributions to Vietnam's energy industry over the years, and affirmed that ensuring energy security continues to be a strategic priority of the Vietnamese Government. The Minister asked Exxon Mobil to speed up the progress of ongoing projects and researchExplore new investment opportunities and expand cooperation with Petrovietnam and Vietnamese businesses in the fields of oil and gas, LNG, petrochemicals and energy infrastructure.
As for Exxon Mobil, the group's leaders assess that Vietnam is still one of the key markets in its long-term development strategy. The enterprise said that the current investment portfolio review is just a normal management activity in the face of fluctuations in the global energy and petrochemical market, and does not change its commitment to continue investing and expanding cooperation in Vietnam.
The two sides agreed to maintain a regular exchange mechanism to promote existing projects as well as research new investment opportunities in the future.
At the same time, the Minister of Industry and Trade also worked with GE Vernova to promote cooperation in energy technology, high-tech industry and supply chain development.
The Minister noted that GE Vernova's equipment and technology are being used in many important power projects in Vietnam, especially the Nhon Trach 3 and Nhon Trach 4 LNG Gas Power Plants. The Ministry of Industry and Trade requested GE Vernova to continue expanding investment, prioritize providing equipment for new gas power projects, and enhance technology transfer and training.human resources and participate more deeply in large-scale energy infrastructure projects.
In response, GE Vernova affirmed that Vietnam is in the group's global priority market group and is a strategic partner in the Asian region. The enterprise said it will continue to invest through providing gas turbines, modern power transmission equipment, developing domestic supply chains, promoting digital transformation, training human resources and cooperating in the field of strategic minerals.
Summary table of working content
Content Exxon Mobil GE Vernova
Cooperation fields Oil and gas, LNG, petrochemicals, energy infrastructure Gas power, gas turbines, power transmission, digital transformation
Vietnam's orientation Accelerate projects, expand investment Expand investment, transfer technology
Business commitment Continue long-term commitment to Vietnam Vietnam is a global priority market
Common goals: Strengthen investment and trade cooperation. Develop supply chains and energy technology
These meetings take place in the context that Vietnam is promoting many LNG gas power projects, upgrading transmission infrastructure and expanding the energy value chain. If commitments are implemented on schedule, the participation of Exxon Mobil and GE Vernova is possiblecontributing to improving energy supply capacity, increasing technology localization rate and supporting the transition to a modern, stable and sustainable energy system.
For the market, this information is also positively evaluated as LNG, gas power and power transmission infrastructure projects are one of Vietnam's investment focuses during the implementation phase of Power Plan VIII, while also opening up opportunities for deeper cooperation between Vietnamese businesses and leading US energy corporations.
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