On the afternoon of March 12, 2025, Prime Minister Pham Minh Chinh hosted a meeting with Mr. Nate Franklin, Chairman of U.S.-based Pacifico Energy (PE).

The Prime Minister highly appreciated Pacifico Energy’s practical and effective contributions to Vietnam’s socio-economic development, including solar power projects in Binh Thuan and wind power projects in Ben Tre.

The Government of Vietnam welcomes PE’s commitments and plans to invest in the country’s energy sector—particularly its surveys for offshore wind power projects in Binh Thuan and research into other potential investment areas nationwide.

The Government of Vietnam welcomes PE’s commitments and plans to invest in the country’s energy sector—particularly its surveys for offshore wind power projects in Binh Thuan and research into other potential investment areas nationwide.

To achieve fast and sustainable development goals, Vietnam has identified renewable and new energy development as a strategic priority. The Government is determined to foster stronger collaboration with foreign investors, including U.S. companies, thereby reinforcing the Comprehensive Strategic Partnership between Vietnam and the United States. 

Prime Minister Pham Minh Chinh notes that Government would soon issue new decrees on offshore wind power, creating legal framework with robust incentives for investors in this field.

Vietnam is targeting GDP growth of 8% in 2025 and double-digit growth in subsequent years, leading to rapidly increasing electricity demand. The country is also accelerating clean electricity exports, such as to Singapore. Highlighting these developments, the Prime Minister urged Pacifico Energy to increase its investment and cooperation with Vietnamese enterprises in clean and renewable energy projects, particularly offshore wind and solar power. He also encouraged PE to explore investment in Vietnam’s transmission and power grid infrastructure to enhance national energy security.

In addition, he called on the corporation to promote technology transfer in renewable energy, support Vietnam in training high-quality human resources for the energy sector, and offer recommendations to help improve Vietnam’s legal and policy frameworks.

Mr. Nate Franklin, Chairman of Pacifico Energy, expressed strong appreciation for Vietnam’s senior leadership and the Prime Minister’s efforts in improving the investment and business environment. He also praised the active and effective support of Vietnamese ministries, sectors, and local authorities. According to him, Vietnam holds immense development potential, which is increasingly being realized, with a highly positive outlook.

He added that among all Asian countries, Vietnam possesses unique and favorable conditions for wind energy development, such as a long coastline, high wind speeds, suitable seabed topography, and strategic geographical location.

In Vietnam, Pacifico Energy is one of the leading U.S. renewable energy investors. The corporation has completed a 40MW solar power project in Binh Thuan (commissioned in 2019) and is developing a 30MW wind power project in Ben Tre, expected to be operational by 2025.

Translator: Hoàng Duy Khánh