“Leading US Corporations Eye Investment in Vietnam”

24 May, 2025

Minister Nguyen Hong Dien meets with Excelerate Energy Corporation

At the meeting with Excelerate Energy Corporation, Minister Nguyen Hong Dien affirmed that Vietnam encourages Excelerate to participate in the development of infrastructure and the liquefied natural gas (LNG) market in Vietnam.

During the meeting with Excelerate Energy Corporation, Minister Nguyen Hong Dien affirmed Vietnam’s encouragement for the company to engage in the development of infrastructure and the liquefied natural gas (LNG) market in the country. According to the Power Development Plan VIII, to ensure national energy security, Vietnam will construct 14 gas-fired power plants in the coming years. Therefore, securing LNG sources is one of the top priorities. Vietnam is also facilitating businesses operating in the liquefied gas industry, including reducing the import tax on LNG from 5% to 2%.

Mr. Peter Haas, Vice President of Excelerate Energy Corporation, proposed three specific areas of cooperation: investing in and developing LNG infrastructure, ensuring a stable LNG supply, and establishing a joint venture with a Vietnamese partner to expand the market, with the aim of making Vietnam a regional LNG distribution hub in ASEAN.

Minister Nguyen Hong Dien appreciated Excelerate’s proposals and acknowledged the corporation’s signing of a Memorandum of Understanding (MoU) with PVGas on long-term LNG supply and FSRU infrastructure development. The areas in which Excelerate is active, including LNG supply from the US, FSRU leasing, and gas re-transformation technology transfer, align with Vietnam’s energy development orientation in the coming years.

Promoting Aerospace Cooperation

At the meeting with Lockheed Martin Corporation, Minister Nguyen Hong Dien appreciated the long-standing, trustworthy, and effective cooperation between Lockheed Martin and Vietnam’s telecommunications industry, as evidenced by the successful projects such as the VINASAT-1 (2008) and VINASAT-2 (2012) satellites. Minister Nguyen Hong Dien emphasized that Vietnam is preparing a plan to launch a new-generation satellite by the end of 2026. Vietnam wishes to expand cooperation in potential areas such as aerospace, digital infrastructure development, enhancement of space sovereignty, and improvement of national telecommunications capacity. At the same time, Vietnam wants to explore flexible cooperation models and participate in Lockheed Martin’s supply chain production in the future.

Representing Lockheed Martin, Ms. Nancy Ziuzin, Vice President for International Government Affairs, Global Business Development, and Strategy, appreciated the potential and strategic role of the Vietnamese market and affirmed the company’s commitment to accompanying Vietnam’s development in key areas such as aviation, space, and defense technology. The two sides agreed to strengthen the establishment of a regular cooperation mechanism, share information, and promote technology transfer projects.

Minister Nguyen Hong Dien expresses his desire to explore flexible cooperation models and participate in Lockheed Martin’s supply chain production in the future

SpaceX Commits to Investing in Vietnam’s Telecommunications Infrastructure

At the meeting with SpaceX, led by Vice President Tim Hughes, the company affirmed its strong commitment to investing in and developing telecommunications infrastructure in Vietnam through the Starlink satellite internet service project. SpaceX will invest approximately 1.5 billion USD to provide broadband internet connectivity nationwide, especially in remote, border, and island areas.

In the initial phase, SpaceX plans to build 10 to 15 ground stations in Vietnam and commits to providing modern, stable, and reasonably priced telecommunications services to improve connectivity for millions of Vietnamese people, particularly in areas with limited access to traditional networks.

SpaceX emphasized that Vietnam is a strategic market in Starlink’s global expansion strategy. The company aims not only to provide connectivity solutions but also to accompany the Vietnamese government in the digital transformation process, bridge the digital divide among regions, and promote socio-economic development associated with high technology.

Minister Nguyen Hong Dien appreciated SpaceX’s investment plan and long-term commitment. He assured that the Vietnamese government is ready to facilitate favorable mechanisms and policies and is actively resolving legal issues to ensure the project’s timely implementation. The Minister also proposed expanding cooperation to other fields such as information technology, clean energy, and technology transfer, particularly in high-tech human resource training, which is considered the foundation for sustainable digital infrastructure development in Vietnam.

Google Views Vietnam as a Center in its Global Supply Chain Restructuring

At the meeting with Google, led by Mr. Karan Bhatia, Vice President of Google for Government Affairs and Public Policy, Minister of Industry and Trade Nguyen Hong Dien acknowledged and appreciated Google’s strategy in recognizing Vietnam’s central role in its global supply chain restructuring process. The Minister emphasized that this is a crucial opportunity to promote the development of a sustainable, balanced, and secure supply chain in the region.

At the same time, the Minister proposed that Google actively coordinate with domestic partners to assess the potential for localizing raw materials and expanding and diversifying supply sources from countries in the region. The Ministry of Industry and Trade commits to supporting Google in connecting with domestic businesses, providing information, and considering supportive policies on infrastructure, logistics, and taxes if Google is determined to expand investment or enhance supply chain capacity in Vietnam. Google expressed its gratitude for Vietnam’s support for its investment and business activities and pledged to accompany Vietnam in the current trade negotiations with the US.

By Nhật Quang – 10:30, May 21, 2025