Party chief calls for more investments from Pacifico Energy

Party General Secretary Tô Lâm (right) had talks with US-based Pacifico Energy (PE) CEO Nate Franklin in Hà Nội. — VNA/VNS Photo

HÀ NỘI — Party General Secretary Tô Lâm on Friday suggested US-based Pacifico Energy (PE) further expand its cooperation and investment in Việt Nam, including new energy transition projects, while expediting ongoing initiatives. 

Hosting PE founder and CEO Nate Franklin in Hà Nội, the Parader praised PE’s contributions to Việt Nam's renewable energy sector and the broader Việt Nam-US partnership. 

He affirmed that the US is one of Việt Nam's most important economic partners, and the Comprehensive Strategic Partnership framework between the two countries is creating new opportunities and space for US businesses to invest and operate in the Southeast Asian nation

The Party chief reiterated Việt Nam's vision of becoming an upper middle-income country with a modern industrial base by 2030 and a developed nation with high income by 2045. To achieve these goals, Việt Nam is committed to facilitating investment through institutional reforms. The country also remains steadfast in its pledge to reach net-zero emissions by 2050.

He noted that a stable and clean energy supply is essential for Việt Nam's economic expansion. The government has been refining its legal framework to encourage energy firms to invest in the country, catering to domestic demand and the broader Southeast Asian market. 

Lâm also encouraged closer collaboration between PE and Vietnamese enterprises in technology transfer and capacity building to enhance the nation’s expertise in wind and renewable energy.

For his part, Franklin said Việt Nam holds vast potential for offshore wind power, adding the group is committed to advancing surveys and project development to support the country's pursuit of double-digit economic growth.

Franklin praised Việt Nam's efforts to improve its business climate and acknowledged the strong support from local authorities for US investors. He highlighted PE’s successful projects in Việt Nam as a testament to the growing Việt Nam-US Comprehensive Strategic Partnership and expressed confidence that they will pave the way for increased American investment.

He pledged further investment in offshore wind and renewable energy to drive the nation’s sustainable economic growth and strengthen ties between the two nations. — VNA/VNS