Promoting Mitsubishi’s investment for projects in Vietnam

On 29 August 2018, Deputy Prime Minister Vuong Dinh Hue welcomed the Executive Deputy President of Mitsubishi Group (Japan) Hiroshi Sakuma.

Mitsubishi is currently investing in 2 BOT projects of Vung Ang 2 Thermal Power Plant (capacity of 1,200MW) and Vinh Tan 3 Thermal Power Plant (capacity of 1,980MW) in Vietnam.

Deputy Prime Minister Vuong Dinh Hue welcoming Mr. Hiroshi Sakuma -Executive Deputy President of Mitsubishi Group

Mr. Hiroshi Sakuma said that the Ministry of Industry and Trade of Vietnam and Mitsubishi had signed an Investment agreement in early 2017, initiating the Land lease contracts, power purchase agreements, etc.

Mitsubishi wishes the Government of Vietnam to promptly resolve difficulties on ceiling restrictions for loan by early- termination payment formula and tax incentives to soon put the project into operation, improve the electricity capacity for the Vietnamese market.

In addition to the above 2 thermal power projects, Mitsubishi also plans to invest capital in factories manufacturing electric cars in Vietnam. This Japanese group said it was assessing the feasibility of the project and expecting for new regulations on the environmental protection taxes to promote investment in factories in Vietnam.

Deputy Prime Minister Vuong Dinh Hue said that power projects had made a significant contribution to Vietnam and highly appreciated Mitsubishi’s business investments in the fields of energy, infrastructure, trade and services. In particular, the Government of Vietnam attached much importance to the Vung Ang 2 thermal power project and had agreed on provisions of foreign currency conversion for this project.

The Deputy Prime Minister wished  Mitsubishi to make efforts in implementing necessary tasks so as for the cooperation agreement of implementing Vung Ang 2 and Vinh Tan 3 projects to be signed in October 2018 during the visit by Prime Minister Nguyen Xuan Phuc to Japan.

  • 30/08/2018 09:14