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Vietnam Energy Forum

The Prime Minister received leader of AES Energy Corporation (USA)

 - On the afternoon of October 11, Prime Minister Pham Minh Chinh received Mr. Juan Ignacio Rubiolo - Permanent Vice Chairman of AES Energy Corporation (USA). On this occasion, AES proposed Vietnamese Government improve the investment and business environment, including the development of a pilot regulation on the Direct Power Purchase Agreement (DPPA).

AES is an Energy Corporation among the 500 largest US companies voted by Fortune Magazine and one of the energy leading companies around the world. AES has much experience in electricity generation, distribution, and infrastructure construction in the gas industry around the world.

In Vietnam, AES has been successfully and efficiently operated since 2010 by investment in Mong Duong 2 thermal power plant in Quang Ninh province with a capacity of 1,150 MW. Recently, the Ministry of Industry and Trade (MOIT) approved the investment policy for Son My 2 gas-fired power project under the mode of public-private partnership invested by AES.

Previously, Son My LNG Terminal Co., Ltd was awarded the Investment Certificate and Business Registration Certificate during the Prime Minister's visit to the US in May 2022.

The Prime Minister received leader of AES Energy Corporation (USA)

Prime Minister Pham Minh Chinh receives Mr. Juan Ignacio Rubiolo - Permanent Vice Chairman of AES Energy Corporation (USA) - Photo: VGP/Nhat Bac.

At the meeting, Prime Minister (PM) Pham Minh Chinh highly appreciated the business investment activities and the constructive policy recommendations of AES in Vietnam in recent times. In particular, the activities in green and clean energy contribute to the energy transition, towards the goal of carbon neutrality by 2050.

According to the Prime Minister, the electric energy development in Vietnam requires a wholly and comprehensive calculation for the power plants, power transmission grids, and electricity distribution with appropriate electricity prices. PM also suggested the partners support Vietnam in the progress of the energy transition to ensure the covered fairness, justice, sustainability, and benefits for the people. Specifically, to support Vietnamese companies and investors in capital sources with appropriate interest rates, in improving management capacity, training human resources, more deeply participating in the global value chain and especially in transferring renewable energy technology, helping Vietnam to build and develop an industry of the renewable energy equipment manufacture.

The PM affirmed that Vietnam welcomes and encourages plans and ideas to invest in renewable energy and clean energy projects of AES and the capable and reputable partners in Vietnam. The Government of Vietnam will accompany and support the investment projects of AES to ensure feasibility, efficiency and success, sustainable and long-term investment cooperation on the basis of harmonized benefits and shared risks.

Mr. Juan Ignacio Rubiolo highly agreed with the Prime Minister's views on developing the energy industry in Vietnam, especially the approach to energy transition with inclusive, sustainable, comprehensive, and affordable guarantees suitable for people's ability to pay.

Mr. Juan Ignacio Rubiolo AES informed about the progress and implementation of projects in Vietnam, thanked for the active support of Vietnamese agencies with the projects and proposed new cooperation ideas such as the offshore wind power project (4GW) in Binh Thuan province, energy storage battery system project (BESS)…

Mr. Rubiolo highly appreciated the strong development of Vietnam in the economy, infrastructure construction and improving people's lives.

According to Mr. Rubiolo, Vietnam still achieved impressive growth in the context of the world economy facing many difficulties and the success story of Vietnam can be felt very clearly in reality, as well as in the global media.

AES greatly expects Vietnam's development potential and would like the Vietnamese Government to improve the business and investment environment, including the development of a pilot regulation of DPPA.

Affirming that AES will continue to invest in the long term, with the desire to become an active contributing partner for Vietnam to achieve the goal of net zero emissions by 2050, contributing to building an independent and self-reliant Vietnam on energy, improving capacity to respond to external shocks (such as the current global energy crisis).


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