Siemens Keen on Business Expansion in Vietnam: CEO

Minh Tam

10:03 19/10/2015

BizLIVE - Siemens AG Group plans to make long-term investment in Vietnam, which has rising demand for energy and infrastructure works, said the firm’s top executive.

Siemens Keen on Business Expansion in Vietnam: CEO

A hybrid bus built by Siemens and Vietnam Motors Industry Corporation (Vinamotor). (Photo: Siemens Vietnam)

Siemens AG Group will expand business expansion in Vietnam, with a long-term commitment, in providing high technologies in the sectors of infrastructure, healthcare, urban management, mobility, airports, and efficient logistics, Joe Kaeser, the group’s president and chief executive officer, told the Vietnam Investment Review.  
Siemens was particularly interested in providing technology for urban railway projects in Ho Chi Minh City and Hanoi, he noted, adding that the Germany engineering firm has lots of experience in management of high-speed trains. “Metros will help people move faster. Meanwhile, Vietnam is facing big traffic problems.”
The CEO tipped at a meeting with Prime Nguyen Tan Dung on October 16, he called for the Vietnamese government’s support for the usage of environmental-friendly and high-efficient technology in order to develop the country’s infrastructure,
Siemens also recommended the government focus on building gas-fired power plants rather than coal-fired power facilities, and grant incentives for investors who develop wind-power plants in Vietnam, with a rise in the price of wind power.
“With our state-of-the-art technologies and years of operations in Vietnam in the power sector, we are greatly interested in the upcoming important gas-fired power projects in Vietnam, such as O Mon 3 and 4, the expansion of Nhon Trach 2, Kien Giang 1 and 2, and other gas-fired power plants in the central region of Vietnam,” Kaeser said.
The German firm first entered Vietnam by the installation and supply of two industrial steam turbines at the Bai Bang Paper Mill in the northern province of Phu Tho in 1979.
It established a representative office in the Southeast Asian country in 1993 and turned into limited company in 2002. The firm has participated in numerous Vietnam’s infrastructure projects.
A Chinese-invested elevated urban railway project is under construction in Hanoi while a subway system is scheduled for completion in Ho Chi Minh City in five or six years.