Vietnam welcomes US Gen X Energy’s projects: Deputy PM

Deputy Prime Minister Vuong Dinh Hue and Gen X Energy CEO Scott Kicker (Photo: VNA)

Hosting a reception for Gen X Energy CEO Scott Kicker in Hanoi, Deputy PM Hue stressed the US firm’s projects are in line with the Vietnamese Government’s priority in foreign investment attraction, adding that the Southeast Asian country is interested in importing liquefied natural gas (LNG) and developing gas electricity plants to ensure sufficient energy for economic development.

He spoke highly of Gen X Energy’s cooperation with relevant sides to land investment in Vietnam, expressing his belief that the move will make significant contributions to boosting collaboration in trade and investment.

The official also underlined that Vietnam expects more US investments to improve bilateral trade balance.

For his part, Kicker informed his host that Gen X Energy had worked with leaders of the southern province of Ba Ria - Vung Tau to outline a plan for a LNG complex in the locality. Comprising a large-scale LNG storehouse, the project will help reduce costs while distributing gas to power plants in Vietnam.

As the company has a plan to develop a gas electricity plant in Vietnam, he asked the Vietnamese Government and competent ministries and sectors to put its project into the national power planning, as well as direct relevant sides to carry out the project.

Deputy PM Hue asked the US firm and its Vietnamese partners to make detailed reports on the plant’s scale and total investment before submitting to the Prime Minister for approval./.