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Vietnam urges South Korea to invest in clean energy development

Vietnam has urged South Korea to invest in clean energy and mineral resource development.

Vietnamese minister of industry and trade Nguyen Hong Dien made such request to South Korea.

According to a local report, Dien stated, “In a few weeks, Vietnamese government will approve the country’s long-term eight master plans centering on renewable energy. We hope South Korean companies invest in mineral resource development here, that is essential to the energy industry.

He further informed that Vietnam’s Ministry of Industry and Trade and South Korea’s Ministry of Trade, Industry and Energy have signed agreements on energy and resource development.

Earlier, the duo had signed at least three memorandums of understandings.

As per the agreement, the two countries will enhance cooperation on investment and technology development of critical minerals or nonfuel minerals. As per Korea’s Industry Ministry, the two countries have huge potential for cooperation.

Besides, both agreed for cooperation in the renewable energy sector, especially for developing offshore wind power.

“As for clean energy, Vietnam is considering developing nuclear power – which was put on hold back in 2018. Nuclear power is also a vital energy source for wind power and solar panels,” the minister was quoted.

Aside from energy and resource development, the minister called for active investment from Korean companies.

Meanwhile, it has been reported that the minister pledged to “actively communicate with some 9,000 South Korean companies including Samsung Electronics, Hyundai Motor Group and Daewoo E&C for doing business in Vietnam.”


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