Prime Minister Urges GE Vernova (USA) to Expand Power Generation and Grid Investments in Vietnam

In attendance were U.S. Ambassador to Vietnam Marc E. Knapper and leaders from various Vietnamese ministries and sectors.

Welcoming Ms. Zingoni and her GE Vernova colleagues to Vietnam, Prime Minister Pham Minh Chinh highlighted the significance of their visit, coinciding with the 30th anniversary of diplomatic relations between Vietnam and the United States, and the continued implementation of the Comprehensive Strategic Partnership framework.

Noting that the Vietnam-U.S. Comprehensive Strategic Partnership has deepened and become more substantive and effective over nearly two years, the Prime Minister emphasized that economic, trade, investment, and technological cooperation remain the cornerstone and driving force of bilateral relations. He praised GE Vernova’s involvement in numerous critical power projects in Vietnam and its long-standing partnership in the country’s development and U.S.-Vietnam relations.

Expressing her honor at being received by Prime Minister Pham Minh Chinh, Ms. Zingoni shared that GE Vernova operates in the power sector across over 100 countries, with a 2024 revenue of $35 billion.

GE has been operating in Vietnam since 1993 and currently employs approximately 1,700 staff. GE Vernova is involved in several key projects in Vietnam, including Nhon Trach 3 and 4 thermal power plants, Son La and Lai Chau hydroelectric plants, and solar, wind, and transmission grid projects.

Describing Vietnam as a highly secure base for the company, Ms. Zingoni expressed GE Vernova’s intention to expand cooperation and investment in Vietnam. This includes supplying equipment for LNG power plants, building substations and transmission solutions, and providing digital technology solutions for the power sector, aligning with Vietnam’s clean energy development mission.

The Prime Minister stated that Vietnam is striving for rapid and sustainable development to achieve its centennial goals: becoming a developed country with high income by 2045 and a modern industrialized nation with upper-middle income by 2030. The demand for electricity is both substantial and urgent, and Vietnam is actively participating in the ASEAN power grid to enhance regional energy security.

Vietnam is committed to developing clean energy, actively participating in global climate change commitments, and implementing measures to expand renewable energy capacity. The government is continuously refining the legal framework to ensure synchronized and effective development of various energy types, maximizing existing potential. Vietnam pledges to create favorable conditions, including institutional reforms, for foreign investors, particularly from the U.S., to operate efficiently in compliance with Vietnamese laws.

To sustain the positive momentum in economic, trade, and investment cooperation, and to strengthen Vietnam-U.S. relations, the Prime Minister urged GE Vernova to expand its investments in Vietnam. This includes contributing to energy needs, sustainable development goals, infrastructure, and the energy ecosystem, particularly in power generation and grid projects. He also encouraged GE Vernova to provide input on institutional improvements, train high-quality human resources, transfer advanced technologies, and develop hydrogen power projects to support Vietnam’s green energy transition.

The Prime Minister proposed that GE Vernova invest in specific projects, establish Vietnam as a long-term strategic location, and build an R&D center in the country. He also suggested signing cooperation agreements on power development with Vietnamese partners such as Petrovietnam and EVN. Additionally, he requested GE Vernova to advocate for Vietnam in U.S. tariff discussions and serve as a bridge to convey Vietnam’s efforts and realities to U.S. authorities, further deepening the Comprehensive Strategic Partnership.