Energy sector high on German firms’ wishlists

“Germany’s Mecklenburg-Vorpommern is home to a mass of enterprises operating in the energy industry. They come here in search of cooperation with local partners and authorities in energy and planning-related projects. We want to improve Germany’s investment in Vietnam,” Mecklenburg-Vorpommern state governor Erwin Sellering told deputy minister of Planning and Investment Nguyen The Phuong in a meeting last week in Hanoi.

Sellering’s visit to Vietnam was accompanied by 60 Mecklenburg-Vorpommern energy- and urban planning-related businesses, some of whom are effectively operating in Vietnam.

“Many of them are here in search of investment opportunities. But, what they are interested most is how Vietnam’s laws and preferential policies are implemented.

“We know that it will be costly for Vietnam to develop wind-power or renewable energy projects, but the country will not have to pay a high price in the future for the way it is exploiting its fossil sources massively,” he said.

Phuong said Vietnam boasted a long coastline ideal for wind-power projects and offered big investment opportunities for investors.

“Vietnam’s government is focusing on luring energy saving projects and those not prone to environmental pollution. As for renewable energy projects, we are discussing price issues to make these projects feasible,” Phuong said.

A representative from a German company, having operating in Vietnam in construction and urban planning for five years, said that in Vietnam many German companies had found it difficult to find local high-quality, long-term partners.

“This can take a long time, now we are also worried about finding some more for our coming construction projects,” he said.

“We also know that Vietnam is planning to build environmentally-friendly hospitals in Hanoi and Ho Chi Minh City in the coming years. But we have no detailed information about these projects, so that we can seek investment opportunities,” he added.

During Sellering’s talk with Prime Minister Nguyen Tan Dung, he was told by Dung that economics, trade, investment, maritime, education and training were promising areas for cooperation between Vietnam and Mecklenburg-Vorpommern.

Dung said the Vietnamese government would create favourable conditions for German enterprises to successfully do business in the country.

By the end of August, Vietnam had 154 German invested projects with total registered capital of $810 million and Germany ranked 24th of 92 countries and territories investing in Vietnam. These projects are mainly engaged in the industrial sector, technical services and software technology. – VIR

Tags: Vietnam energy, Vietnam Energy sector