Vietnam to facilitate US investment projects, says minister

ABO/NDO- Vietnam will work to create an open and transparent business environment and offer favourable conditions for US investment projects in the country, said Minister of Industry and Trade Nguyen Hong Dien.

Dien made the statement at a working session with leaders of the US's AES Corporation in New York on September 21 (local time) to discuss the group's investment and business activities in Vietnam.

At the meeting, the leaders of AES Corporation informed that a joint venture agreement has been completed for the Son My LNG port warehouse project on the basis of the main terms of the joint venture contract of Son My LNG (liquefied gas) port warehouse project signed in October 2020.

The signing ceremony to establish the joint venture Son My LNG Port Warehouse Co., Ltd. (Photo: VNA).

This is an important milestone in the development of the entire project, obtained thanks to the approval and direction of the Government, the Ministry of Industry and Trade, the Commission for the Management of State Capital at Enterprises, the Vietnam National Oil and Gas Group (PetroVietnam) and relevant agencies of Vietnam.

Minister Dien said leading US firms’ success in Vietnam not only holds economic significance but also promotes Vietnam as a trustworthy investment destination for US investors in the future, thus gradually contributing to building bilateral strategic trust.

The Vietnamese Ministry of Industry and Trade will continue making efforts to improve the business and investment environment and actively deal with the US’s proposals, he said.

Then the minister and leaders of Petrovietnam, the Petrovietnam Gas Joint Stock Corporation (PV GAS) and the AES witnessed a signing ceremony to establish the firms’ joint venture – the Son My LNG Port Warehouse Co., Ltd.

The establishment, which aims to invest in the construction of the Son My LNG port warehouse, will contribute to ensuring the supply of liquefied gas for power generation demand of the key economic region in the South in particular and Vietnam in general, helping to ensure the national energy security.

(Source: NDO)