THE NETHERLANDS PROVIDED GRANT FOR THE “ELECTRICITY EMERGENCY RESTORATION SYSTEM” PROJECT

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Hanoi 4 December 2002

Speech by Head of the Economic and Commercial Section of the Kingdom of the Netherlands to Vietnam, Mr. Hanspeter Verhoeff, at the signing ceremony of the ” Electricity Emergency Restoration System” project on December 4, 2002. The Grant Agreement was signed by Mr. Verhoeff and the Vice Minister of the Ministry of Industry of Vietnam, Mr. Nguyen Xuan Chuan. The ceremony was attended also by President & CEO of EVN, Mr. Dao Van Hung, ¸Kema Area Manager Asia, Mr. Leo J. Akkerman, representatives from Ministry of Finance, Ministry of Planning and Investment and Office of the Government.

It is indeed a great honour for me today to attend this special event and to sign this Grant Agreement for the “Electricity Emergency Restoration Systems” project. The total project size amounts to 2.2 Euro, of which 35% is a grant from the Netherlands.

The supply of the 4 Emergency Restoration Systems by Kema, one of the Netherlands leading internationally authorised companies in testing and consultancy for power industry, will have a direct impact on improving security of electricity transmission, and therefore, is expected to contribute to more reliable and continuous business, industrial activities and to better household life in Vietnam.

As a matter of fact, this project has fallen in line with the “Master Plan for Power Development in Vietnam from 2000- 2010 with perspective to 2020” of the Vietnamese Government. Through the Netherlands’ Development- Related Export Transaction Programme (well known as ORET Programme), we are very pleased to share a common responsibility and make a contribution of 776 thousand Euro towards this development.

Over the past two years, through the same Oret programme, Vietnam and the Netherlands have signed a number of economic co-operation projects with the total amount of 32.5 million Euro. Most projects aim at improving the infrastructure in sectors such as transport, water management, waste water management and now electricity. The increase of these co-operation projects is clear evidence that our economic bilateral relations are growing stronger.

May I express the hope that this very sustainable and beneficial Oret project will pave the way to our enhanced bilateral co-operation in the infrastructure development of Vietnam.

Wishing you good luck with the project, and may it contribute to a more reliable power system in Vietnam.

Thank you very much for your attention! “