VietNamNet Bridge - Along with specific agreements signed during the visit to Vietnam by US President Barack Obama, many US businesses expressed their desire to establish or expand investment in Vietnam.

At the meeting between businesses of the two countries, held on May 23 by the American Chamber of Commerce (AmCham) and the Vietnam Chamber of Commerce and Industry (VCCI), a series of agreements, and memoranda of understanding between American businesses and government and Vietnamese partners were signed, mainly in the fields of high technology, clean energy, climate change and environmental protection.

The agreement on solar energy cooperation between First Solar and Thien Tan

Thien Tan Investment and Construction Company signed two major contracts to purchase solar panels worth $35 million to serve its solar power plant project, which kicked off in mid-2015. The plant has a capacity of 19.2 MW with a total investment of VND800 billion ($38 million). The plant is built on 24 hectares in the central province of Quang Ngai.

Strategic partnership between PetroVietnam and Honeywell

The Vietnam Oil and Gas Group (PetroVietnam) and American technology group Honeywell have had cooperation ties for years. However, the signing of this cooperation agreement is expected to help boost ties between the two sides in the oil and gas industry, through counseling, training, construction of the joint committees in this field.

Memorandum of understanding between PetroVietnam and Murphy

Murphy has participated in oil and gas exploration projects in Vietnam since 2012 and it is involvied in the project to exploit gas from Nam Con Son. This MoU will open up many opportunities for cooperation between the two sides in the oil and gas industry, energy joint venture, and help accelerate negotiations for the project on Tho Chu Island and many other contracts.

Memorandum of understanding on Minnesota Biomass Plant

American businesses will help Vietnamese partners in the design and construction of biomass power in Vietnam. Once the plant goes into operation, the private firms that use this power source can save 10-20% of power cost and reduce 200,000 tons of carbon each year to protect the environment and prevent the greenhouse effect.

GE Memorandum of Understanding on developing 1,000MW of wind power

Along with the $11.3 billion historic contract signed between Boeing and Vietjet Air, at the signing ceremony held at the Presidential Palace on May 23, General Electric (GE) inked a memorandum of understanding with the Ministry of Industry and Trade of Vietnam to develop at least 1,000MW of wind power by 2025.

 Initially, the two sides will implement the construction phase 3 of the Bac Lieu wind power plant, which will contribute 300 MW to the national grid. The estimated wind power output is sufficient to supply 1.8 million households in Vietnam. GE will work with local partners to identify potential projects.

Agreement on nuclear safety training

The US will help Vietnam train human resources, equip Vietnamese experts with the knowledge on nuclear procurement, design and construction of nuclear power plants, how to license and inspect the safety of nuclear reactors in the future.

$75 million more for Ho Tram Resort Complex

The American investor of the Grand Ho Tram Strip signed a memorandum of understanding with Cotec Construction JSC (CotecCons) on the investment of an additional $75 million in this project.

Accordingly, the second hotel with 559 rooms of The Grand will be built by CotecCons, bringing the total number of rooms of The Grand Ho Tram Strip to over 1,100 rooms.

This expansion will include recreational facilities for families with 2 movie theaters, a shopping mall, several restaurants, entertainment facilities, an outdoor theater of 2,000 seats, a water park, an aquarium and rollercoasters ... After the hotel is completed, the total actual investment for the whole project has reached $1 billion. This is considered the biggest resort complex project in Vietnam so far.

Initiative on cooperation for research of the downstream Mekong River

This is the effort of the Can Tho University and the US government on the establishment of a research center to connect Vietnamese and US scientists to protect ecosystems and fight against climate change in the Mekong Delta. This initiative will equip knowledge for people to protect the environment and ecological diversity here.

Memorandum of Understanding on Climate Change in the Mekong Delta

This is the collaboration between the US Government and Ben Tre province. Accordingly, the two sides will call for private and state resources to help Ben Tre businesses combat climate change and saltwater encroachment. The goal of the collaboration is to develop the Mekong Delta into a place worth of living, a promising destination for American investors. American corporations such as Microsoft, Dell, and Coca-Cola will support clean water, education, and start-up projects here.

Cooperation to reduce traffic accidents

Traffic accidents cause great loss of life and property for the people of Vietnam. America will set up a $1 million fund to support Vietnam in designing a road safety project. This project will provide training and communication on traffic safety and present helmets for people.

Tran Cham