PM urges China Huadian Corporation to contribute more to Vietnam’s energy sector

PM urges China Huadian Corporation to contribute more to Vietnam’s energy sector

The Vietnamese Government welcomes foreign and Chinese enterprises to expand investment and business activities in the country, particularly in areas aligned with sustainable development needs, suited to China's strengths, and beneficial to both sides, including the energy sector.

Prime Minister Pham Minh Chinh (R) receives Peng Gangping, Chairman of China Huadian Engineering Co., Ltd. (Photo: VNA)

Prime Minister Pham Minh Chinh proposed the China Huadian Corporation Ltd. (CHD) continue its contributions to ensure energy security for Vietnam, while receiving Peng Gangping, Chairman of its subsidiary – China Huadian Engineering Co., Ltd. - on May 14.

Welcoming Peng and his delegation, PM Chinh expressed his belief that their visit and meetings with ministries, agencies, businesses, and relevant partners in Vietnam will yield many positive and substantive results.

Appreciating the CHD’s expanding business operations and recent achievements, he shared that Vietnam is striving to achieve an 8% growth rate in 2025 and double-digit growth in the following years. As such, electricity demand is expected to rise accordingly, especially the demand for clean energy to support rapid and sustainable development.

The Vietnamese Government welcomes foreign and Chinese enterprises to expand investment and business activities in the country, particularly in areas aligned with sustainable development needs, suited to China's strengths, and beneficial to both sides, including the energy sector.

For his part, Peng said that the CHD, one of the world’s 500 largest businesses for 13 consecutive years, has invested approximately 2.8 billion USD in power projects in Vietnam, with a total installed capacity of 1.5 GW, including the Duyen Hai Thermal Power Plant in Tra Vinh province and four wind power projects in Dak Lak province.

The corporation aims to continue investing in the development of renewable energy in the Southeast Asian nation, including the implementation of additional biomass, wind power, and energy storage projects in Dak Lak, Tra Vinh, Quang Tri, and Lam Dong. It also seeks to cooperate with local research institutes and universities to promote technology transfer and human resources training, he stated.

Peng proposed the Vietnamese Government promptly complete investment policies for green energy projects, especially those that provide incentives for upgrading traditional energy technologies, energy efficiency, low emissions, and flexible retrofitting of coal-fired power plants.

In the short term, he suggested the Prime Minister direct support in addressing difficulties for existing projects, accelerate the process of acceptance, approval, and commissioning of commercial operations, and create favourable conditions for the corporation in selecting locations, using land, and implementing new projects.

Expressing his hope that the China Huadian Corporation will effectively implement its projects, the Prime Minister welcomed its continued investment in green energy projects such as wind power, solar power, biomass, hydrogen, energy storage, and pumped-storage hydropower in Vietnam; while encouraging the corporation to develop production, business, and research and development activities based on the principle of “harmonising benefits, sharing risks; and balancing interests between the state, people, and businesses.”

VIR