PM Phuc highlights plentiful opportunities for G7 investors

Prime Minister Nguyen Xuan Phuc (Photo: VGP)

The forthcoming visit to Canada by Prime Minister Nguyen Xuan Phuc and his attendance of the expanded Group of Seven (G7) Summit from June 8-10 gives good opportunities to Vietnam to boost its ties with Canada and other G7 countries, especially in renewable energy projects.

In his recent interview with Reuters, Prime Minister Nguyen Xuan Phuc has emphasized Vietnam’s policy of promoting renewable energy by 2030 with a vision until 2050 by boosting investment in and use of renewable energy. Strategic objectives include a decrease of 40 million tons of coal used and 186 billion KWH of electricity generated from renewable energy sources by 2030.

The government leader highlighted government’s incentives to promote clean energy projects and attract investors on the basis of harmonization of State, investors and social interests.

He affirmed Vietnam’s willingness to cooperate and facilitate foreign investment to promote renewable energy, especially from G7 countries with technology and financial strengths so as to enable them to become strategic investors in the country’s renewable energy sector.