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US, Vietnam firms sign $4B deals on energy and minerals
Vietnamese and Americans firms have signed a series of deals on energy and minerals during a visit to the United States by Vietnam's trade minister.
Vietnamese companies are in talks with U.S. firms to buy American crude oil and LNG, said state-owned PetroVietnam Power, which is a signatory to one of the deals and has executives accompanying the minister on the trip.
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Representatives of PVPower (L) và GE Vernova after signing an MoU about buying GE equipment for PVPower's gas-fired power plants. |
Vietnamese trade minister Nguyen Hong Dien is in the United States to discuss trade cooperation.
PetroVietnam Power in a statement said it has signed a memorandum of understanding with GE Vernova to buy GE equipment for gas-fired power plants.
It said the agreements valued at $4.15 billion.
Other deals include those between PetroVietnam Gas and Conoco Phillips and Excelerate and between Vietnamese oil refiner Binh Son and Kellogg Brown & Root.
Other agreements are between Vietnam's fuel trading firm Petrolimex and the U.S. Grains Council, Renewable Fuels Association, Growth Energy, and a mineral processing cooperation deal between Masan Group with U.S. International Development Finance Corp, they said.
The trip came ahead of a deadline U.S. President Donald Trump has set next month for federal agencies to complete comprehensive reviews of a range of trade issues, including analyses of persistent U.S. trade deficits.
Prime Minister Pham Minh Chinh has called on Japanese enterprises to continue placing their trust in and deepening their engagement with Vietnam, and to consider Vietnam a strategic base for expanding their investment, production, and business activities.
Party General Secretary To Lam advocates reducing unnecessary business conditions by at least 30% to make Vietnam a top three ASEAN investment destination within the next two to three years.
BAC GIANG - The Chairman of the People's Committee of Bac Giang province Nguyen Viet Oanh has recently chaired a conference to grant Investment Registration Certificates to investors of 4 industrial parks of Nghia Hung, My Thai, Song Mai - Nghia Trung, Dong Phuc.
BAC GIANG - According to the People's Committee of Lang Giang district (Bac Giang province), this year, the locality invested 52 billion VND (2.18 million USD) from the district budget to start construction, renovate and upgrade 9 projects in the fields of traffic, schools and dikes.
South Korean conglomerates, including SK Group, Samsung, and LG, are expanding their investments in Vietnam, focusing on energy, high-tech manufacturing, and sustainable development.
Affordable and competitive electricity rates play a vital role in ensuring consistent revenue streams for private enterprises, encouraging their participation in Vietnam's domestic energy market.
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