Việt Nam among GE’s five most important global markets: Chief Corporate Officer

Việt Nam among GE’s five most important global markets: Chief Corporate Officer

The GE leader highly valued Việt Nam’s socio-economic development achievements, viewing them as a solid foundation for further expanding cooperation towards the goal of ensuring a stable and efficient energy supply, while making practical contributions to long-term growth and the country’s energy security.

An overview of the meeting between Acting Minister of Industry and Trade Lê Mạnh Hùng and Chief Corporate Officer of GE Vernova Roger Romulus Martella. — VNA/VNS Photo

Việt Nam is one of the five most important markets worldwide for the US’ General Electric (GE), Chief Corporate Officer of GE Vernova Roger Romulus Martella told Acting Minister of Industry and Trade Lê Mạnh Hùng at their meeting on the sidelines of the sixth round of negotiations on a reciprocal, fair, and balanced Việt Nam–US trade agreement. 

At the meeting, the GE leader highly valued Việt Nam’s socio-economic development achievements, viewing them as a solid foundation for further expanding cooperation towards the goal of ensuring a stable and efficient energy supply, while making practical contributions to long-term growth and the country’s energy security. 

Martella noted that the US multinational conglomerate is currently supplying equipment and power-generation turbines, accounting for around 36 per cent of Việt Nam’s total electricity output, demonstrating the company’s deep engagement and important role in the national power system. He also informed the Vietnamese side of GE’s plan to organise its global summit in Hà Nội in March, and extended an invitation to the Minister of Industry and Trade to attend and deliver a keynote address at the event.  

Hung affirmed that GE is a major partner with substantive and long-term contributions to Việt Nam. He called on the company to continue working closely with the country, prioritising the accelerated delivery of equipment and turbines for ongoing projects in order to ensure the progress of key power-generation facilities. 

He also urged GE to step up support for the Vietnam National Industry - Energy Group (Petrovietnam) in completing the Long Phú 1 project, and to study the possibility of establishing a hub for equipment supply, operation and maintenance of power plants in Việt Nam. 

Regarding the current state of Việt Nam-US economic and trade cooperation, the GE leader said the group maintains close relations with the US Administration and stands ready to act as a bridge, voicing support for Việt Nam in the process of reciprocal tariff negotiations. 

Also on the sidelines of the negotiation round, Hung met with Juan Ignacio Rubiolo, CEO of AES Corporation, to discuss cooperation in energy investment and other issues of mutual interest in Việt Nam’s power sector. 

At the meeting, Rubiolo reaffirmed the corporation’s commitment to long-term investment and business operations in Việt Nam. The AES acknowledged and highly appreciated the ministry’s efforts to refine the policy framework for power sector development, considering this a key factor in building confidence and stability for international investors. 

Hung underlined that Việt Nam’s electricity demand is rising rapidly alongside economic recovery and growth. Within the national power structure, liquefied natural gas (LNG) power has been identified as an important baseload source, contributing to energy security while serving as a bridge in the transition from traditional fossil fuels to a cleaner and more sustainable energy system. 

He took note of the consistent policy of the Vietnamese Government to create a favourable, transparent and stable investment environment, while requiring projects to fully comply with legal regulations and ensure a harmonious balance of interests among the State, investors and society. In this spirit, the ministry stands ready to coordinate with and support businesses within its mandate, while encouraging investors to proactively strengthen risk management capacity and arrange appropriate financing to ensure effective project implementation. 

Beyond energy cooperation, the acting minister called on the AES, as a leading US energy group, to continue accompanying Việt Nam and lending its voice in support of the negotiations on the bilateral reciprocal trade agreement, thereby contributing to the consolidation of the countries’ Comprehensive Strategic Partnership and promoting economic, trade and investment cooperation in a stable, fair and sustainable manner.

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