Aboitiz Group has been investing in agriculture in Vietnam since 2014, with animal feed mills located in various provinces, including Tay Ninh, Dong Thap, and Ho Chi Minh City.
Deputy Prime Minister Nguyen Chi Dung supports Aboitiz Group’s plan to expand its investments in Vietnam’s renewable energy sector. Photo: VGP/Thu Sa
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During a meeting with Deputy Prime Minister Nguyen Chi Dung on August 5, Mr. Daniel C. Aboitiz, Chairman and CEO of Aboitiz Power, expressed his interest in understanding Vietnam’s priorities and orientations in energy development, particularly in the electricity sector. He also showed a keen interest in investing in the electricity industry in Vietnam and contributing to the enhancement and modernization of the transmission system.
In addition to its strengths in coal and hydropower and its extensive experience, the Aboitiz Group is also exploring the application of artificial intelligence to build maintenance systems for its power projects.
The Deputy Prime Minister, Nguyen Chi Dung, commended the efficient business performance of the Aboitiz Group and Aboitiz Power, especially in the field of renewable energy. He also expressed support for the Group’s expansion plans in renewable energy, given Vietnam’s strong push for energy transition and green economic development.
Vietnam is entering a new era, striving for rapid and sustainable economic growth, aiming for double-digit growth in the next phase to lay the foundation for realizing its two centennial goals. This endeavor demands a substantial amount of electricity, especially to cater to emerging industries such as AI and Big Data.
“Vietnam is committed to ensuring that energy development meets three critical factors: sufficiency, cleanliness, and stability. Sufficient electricity to meet economic development needs must be guaranteed in all scenarios,” emphasized the Deputy Prime Minister.
According to the adjusted Power Development Plan 8, the goal is to have renewable energy sources account for about 28-36% of the total capacity of the power system by 2030, with a long-term orientation of reaching 74-75% by 2050. Additionally, there are plans to continue improving the institutional framework, creating a conducive legal corridor, and developing a synchronous and intelligent power grid system to facilitate large-scale power projects with high diffusion potential.
To expedite the transformation of investment ideas into concrete projects, the Deputy Prime Minister proposed that the Group engage in detailed discussions with the Ministry of Industry and Trade and relevant localities to identify suitable projects, particularly in wind, solar, and LNG power.
He also suggested that the Group explore investment models that combine renewable energy power plants with data centers and develop auxiliary industries to serve the Group’s projects in Vietnam and export to international markets. Furthermore, the Group should actively consult on mechanisms and policies for effective management of power sources and human resource training.
The Deputy Prime Minister also encouraged the Group to continue expanding its investments in Vietnam in areas where it has experience and strengths, including through M&A activities, such as in animal feed production, agricultural products, food, finance and banking, and infrastructure.
The Vietnamese government pledges to create favorable conditions for domestic and foreign investors to operate effectively, sustainably, and long-term in the country.
– 20:35 08/05/2025
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