Norwegian enterprises desire to boost investment in Vietnam

CEO Jotun Morten Foyn last week revealed the company’s plan to develop its second paint factory worth of $100 million in the southern part of Ho Chi Minh City in the next two years. Its first factory was set up in Binh Duong province some 25 years ago.

At the meeting with Prime Minister Nguyen Xuan Phuc during his working visit to Norway last week, Foyn has expressed Jotun’s keen interest in injecting more capital into Vietnam, given appropriate efforts to be made by the local government in ensuring a fair playground for foreign investors like the Norwegian paint company itself.

Geir Haoy, CEO of Norway’s technology group Kongsberg, meanwhile, has also paid his attention on the cooperation with Vietnamese firms, seeking to promote aquaculture technologies and fostering ocean economic collaboration between the two nations.

Vietnam, according to Haoy, has become an attractive destination for foreign investors over the years thanks to its rapid and stable economic growth pace.

President of Norwegian aquaculture vaccines manufacturer Pharmaq Morten Nordstad, likewise, has revealed his company’s upcoming plan to scale up vaccinations for Vietnam’s pangasius, bolster technology transfer to Vietnamese staff and technicians, as well as develop new diagnostic labs for Vietnam’s seafood.

Pharmaq currently has two R&D labs located in Norway and Vietnam. Within the last two years, the company has vaccinated more than 80 million pangasia in Vietnam, preventing disease caused by the bacteria Edwardsiella ictaluri and Aeromonas hydrophila and reducing the need for antibiotic treatments.

Also within the framework of the PM’s visit, Scatec Solar has signed a strategic collaboration agreement worth $500 million with Vietnamese partner MT Energy to develop, finance, construct and operate large-scale solar projects in Binh Phuoc, Quang Tri, and Nghe An provinces.

The projects total 485 MW and are targeted to be realised under a new feed-in tariff regime that is expected to be launched later this year.

“With this partnership we take the first step in positioning Scatec Solar for the growing solar market in Vietnam. As an affordable, fast and reliable source of energy, we believe solar energy has tremendous potential in Vietnam”, said Raymond Carlsen, CEO of Scatec Solar.