The signing ceremony between Neuman&Esser and the Institute for Digital Economy Development Strategy on Tuesday. — Photo vienkinhteso.vn

German energy group Neuman&Esser and the Institute for Digital Economy Development Strategy (IDS) on Tuesday signed a memorandum of understanding (MoU) for cooperation in developing the hydrogen industry in Việt Nam.

The MoU lays a foundation for carrying out research of mechanisms, policies, legal framework and markets for investments in hydrogen production and technology transfer in Việt Nam.

The signing ceremony was part of a four-day visit of Neuman&Esser to Việt Nam to study and prepare for the energy group’s investments in the potential hydrogen industry in Việt Nam.

The National Power Development Plan in the 2021-30 period with a vision to 2030, has set the target to develop a hydrogen ecosystem in Việt Nam, including production, storage, transportation, distribution and use in the domestic market and for exports with synchronous infrastructure system to contribute to ensuring energy security and realising the goal of net zero by 2025.

On the same day, Neuman&Esser also worked with the National Assembly’s Economic Committee on the legal framework and investment environment of Việt Nam for investments in hydrogen industry as a new growth driver for the Vietnamese economy.

Stefanie Peters, Chairwoman and General Director of Neuman&Esser, said that the group will soon make a decision on investing in Việt Nam. First, the group will open a representative office then invest in production facilities. The location will be the country’s southern region, which is close to abundant renewable energy sources.

Neuman&Esser will also work with major energy groups of Việt Nam such as Petrovietnam, Việt Nam Electricity and Việt Nam National Chemical Group to discuss investment opportunities in oil and gas, energy and chemicals in Việt Nam.

Founded in 1830, Neuman&Esser is one of the leading energy groups with expertise in hydrogen. — VNS