US Deputy Secretary: 15 companies want to invest 8 billion USD in Vietnam if there is clean electricity

(Dan Tri) - US Deputy Secretary of State Jose Fernandez said that 15 companies are willing to invest 8 billion USD in Vietnam if they receive assurances that they can use renewable electricity in production.

"Fifteen companies came to us (the US government) and said they are ready to invest $8 billion in Vietnam, not a decade from now, but right now, if they are guaranteed to be able to use renewable energy," Deputy Minister Fernandez said at the event on the morning of January 26.

Deputy Foreign Minister Jose Fernandez - in charge of economic growth, energy and environment - is visiting Vietnam as part of a three-country tour of Asia from January 22 to February 1. On the morning of January 26, he had an exchange with students of the National Economics University, Hanoi.

Deputy Minister Fernandez visited Vietnam to continue strengthening cooperation between the two countries on clean energy - which is part of the Comprehensive Strategic Partnership that Vietnam and the US established in September 2023. The US is also one of the foreign partners supporting Vietnam under the Just Energy Transition Partnership (JETP) - a mechanism to mobilize finance, initially US$15.5 billion, for the green transition.

Mr. Fernandez said that Vietnam has great potential for renewable energy because of its long coastline and high sunshine hours. If Vietnam can take advantage of this, it can attract foreign investors, in the context of the world moving towards zero-emission production. In the photo, event participants ask questions to the Deputy Minister.

For Vietnam, this will be a two-pronged strategy because "there are companies telling us that they have promised their shareholders and customers that they will manufacture semiconductor chips using clean energy," said the US Deputy Secretary.

Semiconductors are also one of the areas of cooperation that Vietnam and the US are focusing on. The US government has promised to support Vietnam in developing human resources in this industry, including a commitment to provide an initial seed grant of $2 million, according to the Joint Statement in September 2023.

In that cooperation, first, "we will ask the OECD to study what needs to be done to create an ecosystem in Vietnam to provide the talent that companies that want to manufacture semiconductor chips in Vietnam will need," Mr. Fernandez said. In the photo, students ask Mr. Josef a question.

After the research results are available, expected next month, Deputy Minister Fernandez said that the US will work with Vietnam to put the research recommendations into practice.

Photo: Thanh Dong - Dantri.com.vn

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