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Investors have poured money into 18 fields and sectors, in which manufacturing and processing led the pack with over US$8 billion, accounting for 51.1% of the registered tally.

Vietnam has been on way to pursue an energy transition that reduce carbon emission and develop renewable sources in an effort to combat climate change .

Fitch Solutions predicted power consumption in Vietnam to grow by an annual average of 6.5% between 2020 and 2029, which still remains one of the fastest growth rates in Asia.

The partnership will enable GS Energy to accumulate business know-how of the “LNG value chain” in Vietnam.

Investing in the Vietnamese LNG market shows a diversified investment portfolio and part of efforts to balance the two-way trade.

US-based Gen X Energy is considering a US$6-billion liquified natural gas (LNG) project in Vietnam.

Energy demand will rise strongly in Vietnam as the country needs power to run its fast-growing economy.

The power plant and an LNG import terminal will play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG.

The visits took place in a time the US is striving to boost its influence in the Indo-Pacific region where China is increasing its economic weight.