Deputy Prime Minister Ho Quoc Dung has reaffirmed Viet Nam’s policy of encouraging international energy groups, including those from the Republic of Korea (RoK), to step up investment in renewable energy, while ensuring a fair and transparent business environment in line with Vietnamese law.
At a reception for Yongsoo Huh, Vice Chairman and CEO of GS Energy, on March 26, the Deputy PM welcomed the strong and comprehensive development of the Viet Nam–RoK Comprehensive Strategic Partnership across multiple sectors.
The RoK remains Viet Nam’s leading source of foreign direct investment, second-largest partner in development cooperation and tourism, and third in trade and labour cooperation. These achievements, he noted, have been driven not only by high-level political commitment but also by the contributions of major corporations from both countries, including VinaCapital and GS Energy.
He commended GS Energy as a capable investor with strengths in finance, technology and governance, aligning with Viet Nam’s strategy to attract high-quality investment and accelerate the transition from fossil fuels to renewable and new energy sources, in support of the country’s net-zero emissions target by 2050.
Huh expressed appreciation for the Vietnamese Government’s support for the group’s projects, noting that GS Energy has invested in several major developments in Viet Nam, including the Nghi Son Refinery and Petrochemical Project in Thanh Hoa and the LNG-to-power complex in Long An, comprising the Long An 1 and 2 LNG-fired power plants.
He added that the group is expanding into Viet Nam’s retail sector, an area where it has strong expertise in the RoK, and expressed hope for continued government support in the coming period.
Deputy PM Dung called on GS Energy to continue working closely with Vietnamese authorities and partners to explore solutions for developing local supply chains, enhance mutually beneficial cooperation and contribute to the sustainable development of both countries.
