(MPI) - Deputy Minister of Planning and Investment Do Thanh Trung hosted a reception on August 12 for a delegation of the US and European businesses led by David Lewis, Chairman and CEO of Energy Capital Vietnam.

Delegates at the reception. Photo: MPI

Welcoming the delegation to work at the Ministry of Planning and Investment (MPI), Deputy Minister Trung spoke highly of their effective operation and business activities in Vietnam.

He highlighted that cooperation in energy, especially sustainable energy, has been recognised as a crucial pillar in the Joint Declaration to elevate relations to a Comprehensive Strategic Partnership between Vietnam and the US during President Joe Biden’s visit to Vietnam in September 2023.

The deputy minister noted that seaport and logistic development are also priority areas of Vietnam since the country has approved the Power Development Plan 8 and the national Seaport System Development Master Plan in the period 2021-2030, with a vision to 2050.

During the meeting, the business delegation discussed potential investment opportunities in the energy and infrastructure sectors in Vietnam, and expressed interest in understanding the regulations and procedures for approving investment principles for port projects proposed by investors. They also affirmed their desire to explore investment opportunities and committed to adhering to Vietnamese legal regulations.

Deputy Minister Trung emphasised legal frameworks related to natural gas-fired power plants and the Ba Ria - Vung Tau Port, including the Long Son terminal area. He said it is classified as a special type of port planned not only to serve the socio-economic development of Ba Ria - Vung Tau province but also the region and the country.

This major general port plays a crucial role and holds significant potential for developing infrastructure that connects Vietnam with the global stage, requiring investors to possess not only financial strength but also operational capacity and competitive capabilities.

The deputy minister suggested US and European businesses to continue working closely with relevant ministries, sectors, and localities to further expand investments in Vietnam, particularly in LNG power projects.

He encouraged the proposal of specific projects that apply modern management technologies, enhance technology transfer, and develop an industrial ecosystem linked with logistics infrastructure in Vietnam.

The MPI is always ready to provide support and closely coordinate to facilitate favorable conditions for foreign investors, including US and European companies, to conduct effective business operations in Vietnam, he stressed./.

Bao Linh

Ministry of Planning and Investment