Legislature leader encourages Siemens Energy AG’s Vietnam investment plan

Siemens Energy AG is an independent business group specializing in electricity generation, transmission and distribution, and listed on the German stock market.

According to Mr. Christian Bruch, President and CEO of Siemens Energy AG, the group’s strength is in line with Vietnam’s energy development orientation. The group and the Ministry of Industry and Trade of Vietnam signed an MoU on cooperation in 2019 to build energy infrastructure for Vietnam, including gas and wind power.

The group not only brings technology solutions but also improves the building capacity of Vietnam’s energy industry as well as trains human resources, so that they can continue to carry out future projects in Vietnam.

NA Chairman Vuong Dinh Hue welcomed Siemens Energy AG’s development plans in Vietnam, and expected the group would explore more energy projects in the country to meet its annual 6.5-7% economic growth target in the coming years.

Acknowledging the group’s interest in Ca Na power centre in Ninh Thuan province, Hue said this project has been added to the national electricity planning and Vietnam prioritises selecting experienced investors, with the bidding to be conducted in accordance with the law.

He announced Vietnam’s plan to host Vietnam - Germany Energy Day on October 6 and hoped Siemens Energy AG would take part in this event.

The NA Chairman also said the Vietnamese legislature will review investment legislation and make amendments if necessary in order to facilitate operations of both domestic and foreign businesses in the country.

CEO Christian Bruch welcomed Hue’s proposal and affirmed Vietnam is always the group’s leading investment destinations. He also revealed that Siemens has worked with the German Government that committed to provide 2.5 million doses of the COVID-19 vaccine to Vietnam.

Siemens will continue to promote this effort so that Vietnam and other countries can overcome the COVID-19 pandemic, he assured Hue.