Vietnam encourages Korean investment in electricity projects

14:40 | 17/05/2017 Industry

Vietnam encourages investment in electricity projects due to increasing domestic demand, Deputy Prime Minister Trinh Dinh Dung told President and Chief Executive Officer (CEO) of the Korea Southern Power Company (KOSPO) Yoon Jong-keun during a reception in Hanoi on May 16.

vietnam encourages korean investment in electricity projects
At the reception (Photo: VNA)

The Deputy PM said Vietnam wants to attract capable and experienced investors to power generation projects, adding that many Korean investors operating in the field have reaped considerable success in the country.

He asked KOSPO to work closely with the Ministry of Industry and Trade and relevant units to choose business models best suited to their capacity and the Vietnamese market’s conditions to be submitted to authorities for approval.

Yoon, for his part, said with more than 40 years of experience and one of the five largest power providers in the Republic of Korea, KOSPO is looking to cooperate with Vietnamese enterprises to develop power projects.

As one of the leading thermal and wind electric utilities in the RoK, KOSPO was established in February 2001 after being split from the Korea Electric Power Corporation (KEPCO).