VN needs US$138 bln for power generation, distribution through 2030

PM Nguyen Xuan Phuc (standing) briefs about recent developments in VIet Nam during meeting with Chinese business representatives on occasion of his tour to China to attend the first China International Import Expo-CIIE 2018 in Shanghai from November 4-5. Photo: VGP

Viet Nam is the 2^nd and 15^th biggest farm produce exporter in ASEAN and the world, respectively, said PM Phuc, adding the country is among the leading exporters of many products like rice, pepper,  coffee, shrimp.

Meanwhile, China is the biggest importer of Vietnamese farm produce, however, most of the farm produce have only become familiar in the Southern part of China.

PM Phuc believed that China’s increased import of Vietnamese agricultural projects would help reduce the current trade deficit with the Northern neighbor.

He took the occasion to brief about recent developments in Viet Nam, which include political stability and positive economic growth over the past years.

The Southeast Asian country is now focusing on infrastructure development which requires nearly US$25 billion in investment capital each year. Viet Nam also needs up to US$138 billion for power generation and distribution from now to 2030.

PM Phuc said this is opportunity for foreign investors, including those from China.

At the meeting, representatives of Chinese businesses operating in agriculture, finance, banking, construction, transport and energy highly valued Viet Nam’s market potential, expressing wish to continue investment in Viet Nam./.

By Quang Minh