Prime Minister Pham Minh Chinh urged Mitsui & Co., Ltd of Japan to accelerate the implementation of the Block B gas-electricity project and expand its cooperation and investment in other sectors in Vietnam, especially offshore wind energy development, during a meeting with its Chairman Tatsuo Yasunaga in Hanoi on September 11.
The Vietnamese Government leader praised effective investment projects by Mitsui & Co in Vietnam, highlighting their contributions to Vietnam's socio-economic development and relations between the two countries.Chinh reaffirmed the Vietnamese Government's commitment to supporting and creating favourable conditions for Japanese businesses in general and Mitsui & Co in particular to conduct effective and sustainable investment and business activities in Vietnam based on the principles of "harmonising interests and sharing risks," and "working together, winning together, and benefiting together."
For his part, Yasunaga said as major multi-industry investment, business, and trading conglomerate of Japan, Mitsui has invested 22 projects worth about US$1 billion in Vietnam, especially in mineral resources, energy, equipment, and textiles. Among these, the Block B gas-electricity project totaled over $700 million.
He expressed his hope to continue receiving PM Pham Minh Chinh's attention and guidance for the project. He also called for support for expanding Mitsui's investment and business into other areas in Vietnam, such as farming, processing and export of aquatic products; pelletised wood production and export; as well as human resources training and labour cooperation.
The PM appreciated efforts of Mitsui, and its joint venture partners in implementing the gas-electricity project, highlighting its importance to Vietnam's socio-economic development goals.
He committed to supporting Mitsui in successfully collaborating and investing in the project, suggesting Mitsui work with the Vietnam Oil and Gas Group to speed up the project's implementation, towards extracting the first gas streams by December 31, 2025.
He said he hopes that Mitsui will cooperate with Vietnamese partners in producing wind turbines and implementing offshore wind projects.
Welcoming and encouraging Mitsui to expand its investment in Vietnam into areas such as aquaculture and aquatic product processing, forestry, biomass energy development, human resources training, and labour cooperation, the PM asked the Japanese firm to invest in building a feed mill, broaden its business activities in Vietnam in sectors of its strength; collaborate, support and transfer technology and management experience with Vietnamese partners to help them become more deeply involved in regional and global supply chains.
The firm should support attracting investment in energy transition in Vietnam; increase scholarships and partner with educational institutions to train high-quality human resources for the Southeast Asian nation, the leader said.
