HCMC – Prime Minister Pham Minh Chinh has urged Pacifico Energy, a U.S.-based energy firm, to increase investments and partnerships in Vietnam’s clean energy sector, particularly in offshore wind and solar power projects.
During a meeting with Pacifico Energy Chairman Nate Franklin on March 12, Chinh welcomed the company’s contributions to Vietnam’s economic growth, including its solar power project in Binh Thuan and wind power initiative in Ben Tre. He reaffirmed the Government’s commitment to maintaining an open, transparent, and favorable investment environment for foreign investors in the renewable energy sector.
Vietnam has positioned renewable energy as a cornerstone of its sustainable economic strategy, aiming for 8% GDP growth by 2025 and double-digit growth in subsequent years. With rising electricity demand, the Government is actively promoting clean energy exports, including plans to supply power to Singapore.
Chinh urged Pacifico Energy to strengthen its investments and collaborate with Vietnamese enterprises in green energy, offshore wind, and power transmission infrastructure. He also emphasized the need for technology transfer and workforce training to facilitate Vietnam’s energy transition and ensure long-term energy security.
Highlighting the complementary nature of the Vietnamese and U.S. economies, Chinh called on Pacifico Energy to advocate for stronger trade relations. He encouraged the company to support Vietnam’s removal from the U.S. list of countries with export restrictions on high-tech products and to push for its recognition as a market economy.
To support offshore wind development, Vietnam is preparing to introduce new regulations aimed at providing a clear legal framework, ensuring investment incentives, and maintaining transparency while preventing corruption.
Pacifico Energy Chairman Nate Franklin commended the Vietnamese Government’s efforts to enhance the business climate and support foreign investors. He noted that Vietnam’s long coastline and favorable conditions offer significant potential for wind energy development. He reaffirmed Pacifico Energy’s commitment to expanding its investments in multi-billion-dollar offshore wind projects across the country.
