09:03 | 13/07/2015 Cooperation
US energy giant GE just announced that it signed a Memorandum of Understanding (MOU) with the Vietnamese state owned company, Vietnam Electricity (EVN).
The MOU calls for cooperation in developing capabilities and resources to help Vietnam meet its growing energy demand. Additionally, the MOU calls for the sharing of technology updates that will help the country expedite the development of its energy infrastructure.
The signing occurred during the official visit of Vietnam’s Communist Party General Secretary Nguyen Phu Trong to the US marking the 20th anniversary of diplomatic normalisation between the US and Vietnam.
In terms of capabilities development under the MOU, GE will continue to assist EVN in the development of human resources through a variety of activities, such as leadership training for EVN’s senior leaders, corporate governance best practice sharing, and practical & technical training programmes.
In terms of energy infrastructure development, GE will provide EVN with technology updates and support for power generation products - including high efficiency gas turbines, large-scale steam turbines, and wind turbines.
Furthermore, both parties shall work together to expand and enhance the usage of renewable energy in the country.
Pham Hong Son, CEO of GE Vietnam and Cambodia said, “Having been in Vietnam over the past two decades, GE is pleased to have this opportunity to be a strategic partner to EVN. We can use our global experience in power generation in over 170 countries, share expertise and bring training programmes to help enhance EVN’s ability to meet the increasing demands of power growth in Vietnam.”
“The agreement becomes more significant when it is formalised in the context of the 20th celebration of diplomatic relations between the US and Vietnam, affirming GE’s commitment to long-term development through ‘company-to-country’ strategy in Vietnam,” Son added.
“Sharing a common desire to develop Vietnam’s energy infrastructure, EVN and GE will keep working together to serve electricity demand for Vietnamese people and the nation. In the progress of ensuring a sustainable development of the power industry, we highly appreciate GE as an excellent partner to help us achieve the goals,” said Duong Quang Thanh, chairman of EVN.
With more than 700 employees and over $110 million invested, GE is committed to partnering with the Vietnamese government to help meet its energy needs. GE has been cooperating with Vietnamese private and state-owned enterprises on significant power projects, such as, the upgrade of Vietnam’s north-south power transmission line.
GE has also helped in the development of high capacity wind farms, such as, the Bac Lieu wind farm in Mekong Delta and the Tay Nguyen wind farm in the Central Highlands region.
With the vision of becoming a trusted partner of the Vietnamese government and customers while contributing to the growth of Vietnam's economy, GE seeks to maintain its long-term partnerships and to continue building upon its proven domestic capabilities and resources./.
Source: Vietnam Investment Review