The MoU lays the foundation for research on mechanisms, policies, laws, markets for Neuman & Esser Group’s investment in manufacturing plants, supply needs, and the transfer of hydrogen technology to partners in Vietnam.

Established in 1830, Neuman & Esser is a leading hydrogen technology enterprise from Germany, with extensive experience in the field of hydrogen compression. The group now has 30 subsidiaries in 10 countries worldwide.

The cooperation between Neuman & Esser and IDS — a gathering place of many leading experts in public policy, macroeconomics, and industry economics in Vietnam — is a reasonable choice for the group's market development in Vietnam in the future.

The signing of the MoU took place as part of the group’s visit to Vietnam from July 30 to August 2 to survey the country’s conditions for investment in the hydrogen industry.

On the same day, the Neuman & Esser delegation held a working session with the Vietnamese National Assembly's Economic Committee, during which the two sides discussed legal policies and investment environment in the hydrogen industry in Vietnam.

The delegation is scheduled to meet with the Vietnam National Oil and Gas Group, the Vietnam Electricity Group, and the Vietnam National Chemical Corporation to discuss development goals and investment opportunities in technology for the oil and gas, energy and chemical industries in Vietnam in the coming years.

In Ho Chi Minh City, the delegation will have meeting on August 1 with major enterprises that are members of the Vietnam - ASEAN Hydrogen Club.