New York meeting to discuss Son My LNG port investment

[ASEAN NOW News]

Minister of Industry and Trade Dien made the statement at a working session with leaders of the U.S.’s AES Corporation in New York on September 21 (local time) to discuss the group’s investment and business activities in Vietnam.

 

At the meeting, the leaders of AES Corporation informed that a joint venture agreement has been completed for the Son My LNG port warehouse project based on the main terms of the joint venture contract of Son My LNG (liquefied gas) port warehouse project signed in October 2020.

 

Son My LNG port (File photo)

 

This is an important milestone in the development of the entire project, obtained thanks to the approval and direction of the Government, the Ministry of Industry and Trade, the Commission for the Management of State Capital at Enterprises, the Vietnam National Oil and Gas Group (PetroVietnam) and relevant agencies of Vietnam.

 

Minister Dien said leading U.S. firms' success in Vietnam not only holds economic significance but also promotes Vietnam as a trustworthy investment destination for U.S. investors in the future, thus gradually contributing to building bilateral strategic trust.

 

The Vietnamese Ministry of Industry and Trade will continue making efforts to improve the business and investment environment and actively deal with the U.S.'s proposals, he said.

 

Then the minister and leaders of Petrovietnam, the Petrovietnam Gas Joint Stock Corporation (PV GAS) and the AES witnessed a signing ceremony to establish the firms' joint venture – the Son My LNG Port Warehouse Co., Ltd.

 

The establishment, which aims to invest in the construction of the Son My LNG port warehouse, will contribute to ensuring the supply of liquefied gas for power generation demand of the key economic region in the South and Vietnam in general, helping to ensure the national energy security.