Australian firm to conduct renewable projects in Viet Nam

Monday, Mar 25, 2019 18:23

Deputy Prime Minister Trinh Dinh Dung receives Chairman and Executive Director of Macquarie Capital John Walker. — Photo

Australia’s Macquarie Capital will soon invest in large-scale clean and renewable energy projects in Viet Nam, said its Chairman and Executive Director John Walker.

Speaking at a meeting with Deputy Prime Minister Trinh Dinh Dung in Ha Noi on Monday, Walker said his company had carefully studied this area. With a transparent and increasingly open investment environment, Macquarie Capital would certainly operate effectively in Viet Nam, thereby attracting more Australian investors.

Dung appreciated that Macquarie Capital had studied and evaluated the market methodically, laying the foundation for the development of investment projects in the field of renewable energy in Viet Nam.

He said the Viet Nam-Australia strategic partnership was developing smoothly, especially in trade and investment co-operation.

Two-way trade turnover reached more than US$7.7 billion in 2018, growing by 19.3 per cent year-on-year. In terms of investment, Australia currently has 425 projects worth $1.84 billion, ranking 19th among foreign investors in Viet Nam.

Meanwhile, Viet Nam has 47 projects investing directly in Australia with a total value of about $256 million. Australia is also the largest provider of non-refundable official development assistance for Viet Nam, reaching AUD92.7 million ($66.9 million) per year.

The Deputy Prime Minister said that the potential for trade and investment co-operation between the two countries was still significant. Therefore, Macquarie, one of the leading investors in Australia and around the world wanting to develop large-scale investment projects in Viet Nam would create great attraction, inspiring businesses of the two countries.

Dung said Viet Nam would create favourable conditions for big investors, including Macquarie, to conduct projects in the field of infrastructure, clean and renewable energy projects.

He asked Macquarie to closely work with relevant ministries and localities to soon decide the investment forms such as direct investment or joint venture, partnering with Vietnamese businesses to conduct the projects.

Attending the meeting were representatives of the Australian Embassy and Viet Nam’s Ministry of Industry and Trade and the Government Office. — VNS

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