Canberra (VNA) – PrimeMinister Pham Minh Chinh on March 8 received executives of some leading enterprisesof Australia planning cooperation and investment in Vietnam.

At the meetings in Canberra, part ofhis official visit to Australia, PM Chinh highly valued the firms’ fruitfulinvestment and business activities while welcoming their investment intentionsand current operations in Vietnam.

He asked the enterprises to coordinateclosely with Vietnamese ministries, sectors, businesses, and partners toimplement their projects in line with regulations, apply modern technology, andincrease support and technology transfer to help Vietnamese businesses furtherengage in global supply chains.

He pledgedthe best possible conditions for the enterprises to operate effectively and sustainably,stating that Vietnam always protects the rights and legitimate interests ofinvestors.

Meeting with the Vietnamese leader, anexecutive of Corio Generation, a portfolio company of Macquarie Asset Management, saidCorio has participated in some renewable energy projects in Vietnam since 2019and hopes to invest in offshore wind power development in the country.

The company is working with Vietnamesepartners, ministries, sectors, and localities to make investment preparationsbut it is facing some problems, he noted, proposing the PM order ministries andsectors to facilitate its project.

In reply, PM Chinh said Vietnam approved the National Power Development Plan 8in 2019 to provide an important legal basis for attracting more foreigninvestment to power, renewable energy, and energy transition projects.

He demanded the Ministry of Planning and Investment, the Ministry of Industryand Trade, and related ministries and sectors give guidance and streamlineprocedures to promote the project of Corio.

The Government leader asked Corio to coordinate closely with the Vietnameseparties to take the next steps of project implementation to bring abouttangible benefits for both sides.

He called on the company tothoroughly consider the project’s feasibility, transfer wind power technologyto Vietnam, and cooperate with experienced and capable businesses of Vietnamlike the Vietnam Oil and Gas Group (Petrovietnam) to reduce production costs.

PM Chinh had separatemeetings with Jeffrey Gandel, Non-Executive Chairman of ASM – an emergingAustralian group in mining; and Oliver Kleinhempel, Chairman &Non-executive Director of EQ Resources – a leading Australian group in theproduction and distribution of tungsten - one of the important raw materials inelectronics manufacturing.

The groups areseeking investment opportunities in Vietnam and they share the wish to injectcapital into mining and developing mineral supply chains in the country.

At the meetings, thePM said Vietnam boasts relatively large mineral reserves, which have beenhighly valued by partners, noting the country has been devising a planningscheme and selecting investors in this sector.

Chinh suggested thebusinesses consider and roll out feasible, effective mining projects inVietnam, apply high-tech, transfer mining technologies to the country, and helpit join global mineral and metal supply chains.

The two groupspledged to closely coordinate with Vietnamese ministries, agencies and enterprises,as well as relevant partners to implement projects in line with regulations,and in the spirit of “harmonising interests and sharing risks” as suggested bythe PM.

PMChinh also received CEO Paul Serra of the SunRice Group – the largest rice productionand distribution conglomerate in Australia, having about 90% of the country'srice market share.

Serrasaid the group, operating in Vietnam since 2008, has been coordinating theimplementation of a project on developing a high-quality rice supply chain inthe Mekong Delta since 2022 with the aim of developing high-yield, high-qualityand sustainable varieties serving the international consumer market.

TheSunRice Group wants to expand its investment in Vietnam in the time to come, heaffirmed.

TheGovernment leader informed the businessman on Vietnam’s current implementationof its green transition strategy to develop green and clean production,especially in agriculture. He lauded the group’s existing projects in Vietnamand welcomed its intention of future investment expansion.

PM Chinh recommeded the conglomerate to continue working directly and supportingVietnamese farmers in farming production, seeking Vietnamese partners,investing in warehouses, promoting e-commerce, and supporting Vietnam’sparticipation in global supply chains.

Healso suggested SunRice Group engage in Vietnam’s conduction of a project ongrowing 1 million ha of high-quality, low-emission rice and developing greengrowth in the Mekong Delta by 2030. The group is encouraged to collaborate andinvest in the country’s halal food, seafood, fruit industries.

Earlier the same day, PM Chinh visited the hydrogen projectmodel in Australia of SK Group from the Republic of Korea. The group is lookingto invest in an LNG exploitation and hydrogen production project in Vietnam.

PM Chinh said that Vietnam is focusing on implementing its greentransition strategy, including energy transition and measures to realise itscommitment to achieve net-zero emissions by 2050.

He said the SK Group's investment plan is in line with Vietnam'spolicies.

According to him, Vietnam has advantages and experience inthe gas and oil exploitation industry and has large gas reserves. Vietnamprioritises LNG gas exploitation projects for electricity production, whichwill then serve for hydrogen production.

PM Chinh said that many corporations want to cooperate andinvest in Vietnam and Vietnam will select qualified ones based on the spirit ofrespecting market mechanisms and competition rules.

He requested the SK Group to coordinate with experienced andpotential Vietnamese partners to quickly prepare project proposals and submitthem to competent authorities for consideration. He called on the group todevelop a long-term investment strategy in Vietnam./.