V-Tech galvanised with energy investment into Kyrgyzstan

V-Tech galvanised with energy investment into Kyrgyzstan

Locally invested energy investor V-Tech last week signed an MoU with the Ministry of Energy of Kyrgyzstan within the framework of the official visit by the chairman of the Cabinet of Ministers of Kyrgyzstan to Vietnam. V-Tech chairman Nguyen Le Anh spoke to VIR’s Nguyen Thu about his company’s journey to expand operations in the international market and also contribute to providing clean energy sources for the region.

Why V-Tech has chosen Kyrgyzstan as an investment destination?

V-Tech chairman Nguyen Le Anh

V-Tech has 20 years of experience in electrical construction, participating with many large customers in Vietnam, as well as participating in many key national projects.

We are constantly striving to apply new technology to the field of industrial infrastructure construction in energy, telecommunications, IT, and automation in Vietnam. All are aimed at the goal of becoming the top construction contractor in Vietnam in terms of both product quality and service reputation.

In 2024, the company recorded many outstanding successes, such as being awarded for completing the key construction package of the 500KV line 3 early. V-Tech was also the first unit to complete the supply of steel poles for this key project.

This MoU opens up specific cooperation opportunities and demonstrates V-Tech’s ability to participate in global projects, particularly in building electrical grids and renewable energy facilities. We are proud to bring Vietnam’s experience and technology to the world, contributing to sustainable development and international cooperation.

We chose Kyrgyzstan due to its significant potential in renewable energy. The country can develop hydropower with a potential of up to 180 billion kWh and enjoys between 2,500 to 2,700 hours of sunshine annually. These conditions are ideal for solar and hydropower projects. Additionally, Kyrgyzstan’s electrical grid is connected with neighbouring countries, offering opportunities for electricity trade within the Central Asian region.

Could you provide insight into the current state of foreign investment in Kyrgyzstan and why V-Tech is focusing on renewables?

The signing of this MoU with the Kyrgyz Ministry of Energy is a significant milestone, highlighting the capability of Vietnamese electrical construction companies to expand internationally. Vietnam’s electricity sector has seen remarkable progress, with nearly 30GW of renewable energy added and key projects like the 500kV transmission line completed swiftly.

Foreign investment in Kyrgyzstan is still relatively limited, especially in renewable energy. The electrical grid needs significant improvements to meet both domestic and export demands. However, this presents a great opportunity for V-Tech.

Our investment aims to strengthen the electrical infrastructure and promote sustainable development. While there are concerns about payment security and economic stability, we believe that with the support of the Kyrgyz government, these challenges can be managed effectively.

What are V-Tech’s specific plans for the near future in Kyrgyzstan?

We will continue to serve as an engineering, procurement, and construction contractor for renewable energy and energy infrastructure projects in Kyrgyzstan. We will focus on design, equipment supply, and construction, and may also arrange financing for these projects to ensure stable and effective funding.

Additionally, we are particularly interested in hydropower projects in Kyrgyzstan. With the country’s significant hydropower potential, we see this as a promising area for investment and development.

We will seek collaborations with local and international partners to fully utilise this potential while enhancing Kyrgyzstan’s energy system. These plans will help V-Tech expand internationally and encourage sustainable development and clean energy in the region. We look forward to making a positive contribution to the energy sector in Kyrgyzstan.

VIR