ASEAN KEY DESTINATIONS
GE opens wind turbine plant in Vietnam
The factory, which has a total investment of more than US$61 million, will manufacture wind turbine components. Parts will be shipped to GE wind turbine manufacturing factories worldwide. The plant occupies an 8.4ha in Nomura-Hai Phong Industrial Zone and has a designed capacity of 1,500 products per year. It expected to generate 400 jobs.
Initially, the facility will produce generators for 1.5MW wind turbines. John Krenicki, GE vice chairman and CEO of GE Energy, said: "Vietnam is an ideal place for GE to invest and expand our manufacturing capability because it has a skilled work force and a bright future in its energy sector."
"With demand for electricity, fuel, and water continuing to rise around the world we believe that building in Vietnam is a great investment," he added.
Over the past few years, GE has invested in a number of activities in Vietnam, ranging from clean energy and health care to aviation.
Tran Tuan Anh, deputy minister of Industry and Trade, said he hoped GE would expand its production base in Hai Phong to include other wind turbine components.
"Wind power is a completely new sector in Vietnam. Demand is increasing and fossil energy resources are exhausted. Thus, recycled energy development will play an important role in ensuring national energy security," he said.
GE and the Ministry of Industry and Trade signed a strategic partnership agreement on Thursday in Ha Noi.
GE will continue investing in the high-tech clean energy sector in the country, focusing on the manufacture of gas turbines and development of support industries, the deputy minister said. GE launched in Vietnam in 1993, one of the very first American companies to do so after the US lifted its trade embargo.
The company later set up a representative office in HCM City in 2001. In 2003, GE established the 100 percent foreign-invested GE Viet Nam Co Ltd in Viet Nam.
GE is a global infrastructure, finance and media company, operating in the energy, water, transportation, health, oil and gas, finance and information sectors. It reaped revenues of $40 billion last year.
Comment on this Article. Send them to email@example.com
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below