Vietnam is safe base of GE Vernova: CEO
Vietnam expects GE Vernova and other companies to enhance their presence in the country's energy sector, driving the industry toward sustainability.
THE HANOI TIMES — The US-based energy equipment manufacturing and services company GE Vernova wants to expand investment and cooperation in Vietnam, seeing the country as a safe base for its operations, María Victoria “Maví” Zingoni, CEO of GE Vernova’s Power businesses, said on September 30.
The meeting between Vietnamese government leader and representatives of GE Vernova on September 30. Photo: VGP
At the meeting with Prime Minister Pham Minh Chinh, Zingoni listed out several areas of interest, including supplying equipment for LNG power plants, building substations, providing transmission equipment and solutions and offering digital technology applications in the power sector.
She said that the company is committed to working with Vietnam in clean energy development and appreciated the country’s efforts and commitments in advancing green electrification and reducing carbon emissions.
According to Zingoni, GE Vernova operates in the power sector across more than 100 countries. The enterprise made US$35 billion worth of revenue in 2024.
The US business began operations in Vietnam in 1993 and currently employs a staff of 1,700. It has partaken in several key projects in Vietnam such as Nhon Trach 3 and 4 thermal power plants, Son La and Lai Chau hydropower plants, as well as solar, wind and transmission grid projects.
Prime Minister Pham Minh Chinh said that Zingoni’s visit is meaningful as Vietnam and the US celebrate 30 years of diplomatic relations and continue to implement the Comprehensive Strategic Partnership framework in 2025.
The partnership has been more practical and effective since its establishment two years ago with economic, trade, investment, science and technology cooperation remaining the driving force of bilateral ties, he said.
The prime minister spoke highly of GE Vernova’s involvement in major power projects in Vietnam and its support in Vietnam’s development and strengthening the Vietnam–US relations.
According to Prime Minister Chinh, Vietnam is striving for rapid and sustainable development to achieve its two centennial goals: becoming an upper-middle-income, modern industrial country by 2030 and a high-income developed country by 2045.
“The demand for electricity is very large and urgent. At the same time, Vietnam is joining the ASEAN power grid, contributing to regional energy security and safety,” Chinh said.
He underlined Vietnam’s policy of developing clean power, actively engaging in global commitments to fight climate change, expanding renewable energy capacity and improving the legal framework to ensure effective, synchronized development of all energy sources while making the most of existing potential.
“The Vietnamese government promises to creating favorable conditions, including institutional reform, for international investors to begin and expand their effective, lawful operations in Vietnam,” Chinh said.
He urged the company to contribute to Vietnam’s energy infrastructure and ecosystem, especially through participation in power generation and grid projects.
Prime Minister Pham Minh Chinh (right) and María Victoria “Maví” Zingoni, CEO of GE Vernova’s Power businesses. Photo: VGP
Prime Minister Chinh also asked GE Vernova to share input on improving the regulatory framework, support training high-quality human resources in the power sector, transfer advanced technologies and provide expertise to modernize Vietnam’s electricity industry, particularly in turbine production.
He expected that the company will explore hydrogen power projects to support green and sustainable energy transition.
The prime minister suggested GE Vernova engage in specific, long-term projects, establish a research and development center in Vietnam and sign cooperation agreements on power generation, transmission and grid development with partners such as Petrovietnam and Vietnam Electricity (EVN).
He asked the company to continue voicing support for Vietnam on tariff issues with the US and, together with other US corporations, serve as a bridge to convey an accurate picture of Vietnam’s efforts to US authorities.
“This would help advance the Comprehensive Strategic Partnership between Vietnam and the United States in a deeper and more effective manner,” Chinh added.
GE Vernova’s CEO reaffirmed the company’s commitment to strengthening its supply chain to meet Vietnam’s needs and to helping address trade challenges between the two countries.
