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Slovakia ready to help Vietnam boost energy development

Slovakia is ready to support Vietnam’s efforts in developing its energy industry, Slovakian Deputy Prime Minister Miroslav Lajcak said at the Vietnam-Slovakia Business Forum in Ho Chi Minh City on Wednesday.

Slovakia is ready to support Vietnam’s efforts in developing its energy industry, Slovakian Deputy Prime Minister Miroslav Lajcak said at the Vietnam-Slovakia Business Forum in Ho Chi Minh City on Wednesday.
Slovakia is ready to support Vietnam’s efforts in developing its energy industry, Slovakian Deputy Prime Minister Miroslav Lajcak said at the Vietnam-Slovakia Business Forum in Ho Chi Minh City on Wednesday.

At the event, co-organized by the Vietnam Chamber of Commerce and Industry and the Slovakian Embassy in Vietnam, the Slovakian official, who is also Minister of Foreign and European Affairs, told that Vietnam has a great potential for energy development, according to the Vietnam News Agency.

He praised Vietnam for its visionary energy development strategy that aims to build Vietnam’s first nuclear power plant by 2030, in addition to existing hydropower and thermal power facilities.

The Slovakian Deputy PM told the forum that Slovakia’s energy security strategy is focused on providing a reasonable electricity price for consumers, ensuring the sector’s export orientation, and making Slovakia an energy transit country in Europe.

Slovakia’s energy mainly came from atomic energy plants, compressed natural gas, and renewable energy sources, he added.

The Slovakian Deputy PM emphasized that economic development should be in line with energy efficiency, and that the cooperation between the two countries should be carried out in this direction.

The forum’s delegates also discussed bilateral cooperation opportunities in healthcare, the environment, trade and other fields.

Regarding trade ties, the two-way trade between Slovakia and Vietnam reached over US$400 million last year, up 35 percent from 2012.

Over the first eight months of 2014, the bilateral trade amounted to $281 million, of which $262 million is worth of exports from Vietnam to Slovakia.

In terms of investment, Slovakian investors are operating five projects valued at $235 million in Vietnam.