“Vietnam Continues to Be a Point of Interest for Me”: GE Chairman

Tuan Minh

15:07 30/10/2015

BizLIVE - GE’s Chairman and CEO Jeffrey R. Immelt showed his eagerness of expanding the firm’s operations in Vietnam as the country boost international economic integration.

“Vietnam Continues to Be a Point of Interest for Me”: GE Chairman

GE is looking to boost the energy business in Vietnam. (Photo: Internet)

GE can develop capabilities across many different sectors in Vietnam when considering the big infrastructural needs of the country and its people, GE’s chairman told the Vietnam Investment Review during his third visit to the Southeast Asian country.
The chairman tipped that GE was in the process of acquiring Alstom that also has presence in Vietnam. “I am very keen to see how we can partner with customers like Electricity of Vietnam who are very strategic for us in the future,” he said.
“When you think about the power sector in Vietnam, we now can bring hydro, coal, gas, wind, and grid technology, so I am quite interested in meeting local teams to understand how we can do a better job of solving some of the power generation problems riddling the country and discover new opportunities in Vietnam,” Mr. Immelt said.
Besides the power sector, oil and gas, aviation and healthcare will also be on GE’s list of priorities, the chairman added. “We think we can also place some newer sectors in the country.”
GE was one of the first American companies established in Vietnam since 1993. The firm first set up a representative office in Hanoi in 1993, and subsequently in HCM City in 2001. In 2003, it established GE Vietnam Ltd, which offers a wide range of after-sales services in the fields of medical, electrical and energy equipment.
Since 2009, GE has invested more than $110 million in a facility in Hai Phong city to produce wind turbine generators and other energy products. In late 2012, GE established an engineering center in in Ho Chi Minh City to focus on product design, applications and services for the oil and gas sector.