DPM receives Executive Vice President at Mitsubishi Corporation

Deputy PM Vuong Dinh Hue (R) receives Executive Vice President at Japan’s Mitsubishi Corporation Hiroshi Sakuma, Ha Noi, August 29, 2018 - Photo: VGP/Thanh Chung

At the meeting, Mr. Hiroshi Sakuma affirmed that Mitsubishi is investing in two BOT thermal power projects in Viet Nam including Vung Ang 2 with a designed capacity of 1,200MW, and Vinh Tan 3 with a designed capacity of 1,980MW.

Viet Nam’s Ministry of Industry and Trade and Mitsubishi signed an investment agreement in early 2017, including land lease and power purchase contracts. 

Mitsubishi expects that the Vietnamese Government will soon resolve obstacles related to tax incentives for accelerating the operation of the projects, thus increasing the electricity supply capacity for the Vietnamese market, he said.

Besides these two thermal power projects, Mitsubishi has planned to invest in an electric automobile production plant in Viet Nam, said Mr. Hiroshi Sakuma, adding that the corporation is evaluating the feasibility of the project and expecting new regulations on environmental protection tax for boosting the investment of the plant in Viet Nam. 

Deputy PM Hue expected that Mitsubishi will continue the necessary works for the two sides to sign cooperation agreements on implementing the projects on Vung Ang 2 and Vinh Tan 3 by October 2018 during PM Nguyen Xuan Phuc’s visit to Japan.

Viet Nam welcomed Mitsubishi to promptly decide to invest in the electric automobile production project, he said. 

By Thuy Dung