Vietnam seeks China's investments in power sector transformation

Vietnam's Deputy Prime Minister Tran Hong Ha on Monday suggested China Power Engineering Consulting Group Co., Ltd (CPECC) invest in projects related to the development of integrated energy centers, high-voltage power transmission lines, and the production of new green fuels in Vietnam.

In a meeting with Luo Bi Xiong, chairman of CPECC, in Hanoi, Ha also commended China's advancements in energy modernization, particularly its renewable energy development and expertise across design, production, operation and management.

He expressed his belief that deeper cooperation between Vietnamese and Chinese companies, especially in the energy sector, would solidify the comprehensive strategic cooperative partnership between the two nations.

Vietnam is undergoing an energy transition and carrying out the National Power Development Plan VIII (PDP VIII) for the 2021-2030 period, with a vision to 2050, he said, adding that this plan necessitates adjustments to legal regulations related to renewable energy development.

Recognizing CPECC's extensive experience in consulting, contracting, and investing in power and renewable energy projects globally and within Vietnam, Ha expressed his desire for the Chinese firm to share its experience in selecting appropriate technologies, refining relevant policies, and developing plans to implement the PDP VIII effectively.

He also asked about solutions to streamline electricity transmission across regions, considering the integration of diverse energy sources like hydropower, coal, gas, and renewables.

The Vietnamese government will foster a positive environment for Vietnamese and Chinese enterprises to collaborate effectively on mutually beneficial agreements, he said.

Taking note of CPECC’s scientifically and economically viable proposals, the host suggested it work directly with the Ministry of Industry and Trade, Vietnam Electricity (EVN), and Petrovietnam to clarify mechanisms and legal regulations, technical requirements, investment effectiveness, and project feasibility.

Luo highlighted CPECC's achievements in energy planning, infrastructure development, consulting, and technical expertise across China, the globe, and specifically within Vietnam.

He proposed a range of projects focusing on the development of integrated energy centers, high-voltage power transmission lines, and the production of new green fuels in Vietnam.