Vietnam’s Communist Party General Secretary To Lam (R) meets Nate Franklin, founder and CEO of Pacifico Energy, on the afternoon of March 14, 2025. Photo by VNA
Party General Secretary To Lam suggested that U.S.-based Pacifico Energy (PE) further expand its cooperation and investment in Vietnam, including new energy transition projects, while expediting ongoing initiatives.
Hosting PE founder and CEO Nate Franklin in Hanoi on Friday, the Party leader praised the firm’s contributions to Vietnam’s renewable energy sector and the broader Vietnam-US partnership.
He affirmed that the US is one of Vietnam’s most important economic partners, and the Comprehensive Strategic Partnership framework between the two countries is creating new opportunities and space for US businesses to invest and operate in the Southeast Asian nation
The Party chief reiterated Vietnam’s vision of becoming an upper-middle-income country with a modern industrial base by 2030 and a developed nation with high income by 2045. To achieve these goals, Vietnam is committed to facilitating investment through institutional reforms. The country also remains steadfast in its pledge to reach net-zero emissions by 2050.
He noted that a stable and clean energy supply is essential for Vietnam’s economic expansion. The government has been refining its legal framework to encourage energy firms to invest in the country, catering to domestic demand and the broader Southeast Asian market.
Lam also encouraged closer collaboration between PE and Vietnamese enterprises in technology transfer and capacity building to enhance the nation’s expertise in wind and renewable energy.
For his part, Franklin said Vietnam holds vast potential for offshore wind power, adding the group is committed to advancing surveys and project development to support the country’s pursuit of double-digit economic growth.
Franklin praised Vietnam’s efforts to improve its business climate and acknowledged the strong support from local authorities for US investors. He highlighted PE’s successful projects in Vietnam as a testament to the growing Vietnam-US Comprehensive Strategic Partnership and expressed confidence that they will pave the way for increased American investment.
He pledged further investment in offshore wind and renewable energy to drive the nation’s sustainable economic growth and strengthen ties between the two nations.
