Hanoi (VNA) - Deputy Prime Minister Nguyen Chi Dung urged AboitizPower – a leading Philippine energy company under the Aboitiz Group – to turn energy investment initiatives into concrete projects while receiving its President and CEO Danel C. Aboitiz on August 5.
Aboitiz operates in a wide range of sectors and industries, including banking, finance, food, animal feed, real estate, shipbuilding, and airport, and is the leading energy provider in the Philippines. In Vietnam, the Group has invested in the agricultural sector since 2014, with a network of animal feed production plants in the southern provinces of Tay Ninh and Dong Thap, and Ho Chi Minh City.
Founded in 1988, AboitizPower currently operates nearly 50 power plants in the Philippines with a total capacity of around 5,000 MW, utilising a diverse range of energy sources such as thermal, hydro, geothermal, wind, and solar power.
Danel C. Aboitiz expressed his desire to learn more about Vietnam’s priorities and orientations in energy development in general and the power sector in particular. He stated that the Group wishes to invest in the country’s electricity sector, both in traditional and renewable energy, and in the power distribution system, with the aim of helping improve the transmission network between the northern and southern regions.
He also shared that in addition to its strengths in coal-fired power and extensive experience in hydropower, Aboitiz is also exploring the application of artificial intelligence (AI) to develop maintenance systems for its power projects.
Deputy PM Dung expressed support for the Philippine Group’s plan to expand investment in Vietnam’s renewable energy sector, especially in the context of the country accelerating its energy transition and green economic development.
According to the leader, Vietnam is entering a new era, striving for rapid and sustainable economic growth, and double-digit growth rates in the coming period in order to become a developing country with a modern industrial base and upper-middle income by 2030, and a high-income developed nation by 2045. Therefore, its demand for electricity is enormous, particularly for emerging industries such as AI and big data.
To reach concrete projects, the Deputy PM suggested the Group engage in detailed discussions with the Vietnamese Ministry of Industry and Trade and relevant localities to identify suitable projects, particularly in wind power, solar power, and liquefied natural gas (LNG).
He encouraged the Group to consider developing energy hubs connected with manufacturing, data centres, and innovation to form integrated complexes; promote supporting industries serving Aboitiz’s projects in Vietnam and for export to international markets; and actively participate in policy consultations to effectively manage power sources, and develop human resources, especially in the power industry in Vietnam.
The Deputy PM also expressed his hope that Aboitiz will continue expanding its investments in Vietnam in areas where it has experience and strengths, including those through M&A activities, such as animal feed production, agriculture, food, finance and banking, and infrastructure.
He affirmed that the Government is committed to creating all favourable conditions for both domestic and foreign investors to conduct efficient, long-term, and sustainable business in Vietnam./.
National energy master plan revision task approved
The guiding principle for revising the national energy master plan is that energy development must align with the country’s socio-economic development strategy. The energy system should be optimised as a whole, targeting sustainable and diverse development to ensure stable and adequate energy supply to meet national goals.
