188bet vn Petrovietnam aims to cooperate in clean energy with UK and international partners

188bet vn Vietnam Investment Forum was organized to promote foreign investment in general and British investment in Vietnam in particular, in 188bet vn context of 188bet vn country reopening its economy after 188bet vn COVID-19 pandemic. Attending 188bet vn forum were British Investment Minister - Lord Gerry Grimstone, British Cabinet Office Secretary of State - Heather Wheeler, 188bet vn British Prime Minister’s Special Envoy for Trade with Vietnam - Graham Stuart, Deputy Minister of Industry and Trade Tran Quoc Khanh and many investors and businesses of 188bet vn two countries. With 188bet vn theme “New Era of Digital and Green Transformation”, 188bet vn participants were updated on Vietnam’s economic situation as well as investment and trade opportunities from 188bet vn implementation of 188bet vn UK - Vietnam Free Trade Agreement (UKVFTA), signed in December 2020 and officially effective from May 2021, and focused on 4 discussion sessions on 188bet vn following contents: Trade and investment opportunities from 188bet vn UK - Vietnam Free Trade Agreement; Digital and financial technology for economic development; Green energy in Vietnam; Financial incentives for sustainable development projects in Vietnam.

Chairman of 188bet vn Board of Directors Hoang Quoc Vuong speaks at Vietnam Investment Forum

Regarding 188bet vn development potential of Vietnam’s green and sustainable energy sources - an important topic at 188bet vn Forum, Deputy Minister Tran Quoc Khanh emphasized that Vietnam’s climate and topography make renewable energy, especially wind and solar power have very attractive investment prospects and affirmed that it was 188bet vn most favorable time for British businesses to explore and promote investment and business activities in Vietnam.

Chairman of 188bet vn Board of Directors Hoang Quoc Vuong and 188bet vn delegation of Petrovietnam at 188bet vn meeting with UK Network

Mr. Ben Backwell, Executive Director of 188bet vn Global Wind Power Council, shared that 188bet vn potential for cooperation in wind power development between Vietnam and 188bet vn UK was still great, especially when Vietnam has set ambitious goals on neutralizing emissions. While Vietnam has large resources in offshore wind energy, 188bet vn UK is a country with long experience in offshore wind power development and can transfer technology to Vietnam.

Chairman of 188bet vn Board of Directors Hoang Quoc Vuong and 188bet vn delegation of Petrovietnam at 188bet vn meeting with Perenco company

According to Chairman of 188bet vn Board of Directors Hoang Quoc Vuong at 188bet vn discussion session, 188bet vn energy transition is an inevitable trend and businesses operating in 188bet vn energy sector, including Vietnam National Oil and Gas Group, are responsible for implementing commitments to contribute to reducing greenhouse gas emissions and combating global climate change. Vietnam Nation Oil and Gas Group is oriented to develop into a large energy group in 188bet vn country and in 188bet vn region with core business activities of oil and gas exploration and production, development of green and renewable energy sources in association with environmental protection, contributing to ensuring national energy security. 188bet vn Group wishes to receive valuable experience and support from energy groups in 188bet vn world in general and 188bet vn UK in particular in development strategies to adapt to 188bet vn energy transition trend, at 188bet vn same time promote and develop forms of clean and renewable energy.

Chairman of 188bet vn Board of Directors Hoang Quoc Vuong and 188bet vn delegation of Petrovietnam at 188bet vn meeting with Wood company  

At a meeting with UK Network organized by 188bet vn Friendship Association of 188bet vn two countries, Chairman of 188bet vn Board of Directors Hoang Quoc Vuong discussed and emphasized 188bet vn Group’s desire to cooperate and share experiences with British companies in 188bet vn field of offshore wind power, renewable energy and green hydrogen.

During 188bet vn program, 188bet vn delegation of Petrovietnam had separate working sessions with such partners as Perenco, Wood, Enterprise Energy, Schlumberger to promote 188bet vn implementation of existing projects and exchange new cooperation opportunities, especially in 188bet vn field offshore wind power, renewable energy and research to develop green hydrogen projects.

Chairman of 188bet vn Board of Directors Hoang Quoc Vuong and 188bet vn delegation of Petrovietnam at 188bet vn meeting with Schlumberger company

188bet vn UK is Vietnam’s third largest trading partner in Europe, and Vietnam’s ninth largest export market. Two-way trade turnover between 188bet vn two countries reached 6.6 billion USD in 2021. By 188bet vn end of 2021, 188bet vn UK had a total of 447 FDI projects in Vietnam, accounting for 1.3% of 188bet vn country’s FDI projects, with total valid registered investment capital of nearly 4 billion USD. 188bet vn UK’s direct investment in Vietnam in 2021 also increased by 157% compared to 2020, making 188bet vn UK one of 188bet vn 12 countries with 188bet vn largest direct investment capital in Vietnam. Vietnam currently has 9 projects with a total registered capital of 11.5 million USD in 188bet vn UK.   

Chairman of 188bet vn Board of Directors Hoang Quoc Vuong and 188bet vn delegation of Petrovietnam at 188bet vn meeting with Enterprise Energy Corporation and BP