The owner and high level management team of one of Vietnam’s greatest construction company, the Hoa Binh Construction & Real Estate Corporation (having over 6000 employees and 473 million USD revenue) paid a visit to Budapest on the 19th May 2017 with the aim of gaining better understanding of the THERMOWATT sewage water heat utilising heating-cooling solution and studying its system in person during real time operation.


Mr Le Viet Hai and Mr Pál Kiss signing the MoU in the presence of Mr Tibor Baloghdi consul general (Ho Chi Minh City) and Mr Istvan Joó Ministerial Commissioner (foto: KKM, Burger Zsolt)

To see the gallery of pictures taken during the event click on the picture above. (Photos: KKM, Burger Zsolt, Thermowatt Kft.)


As the first point of the agenda Hoa Binh visited the Military Hospital (Medical Centre, Hungarian Defence Forces) where the Thermowatt building heating-cooling system is already in operation for almost 3 years. The Vietnamese delegation commended the engine house traversed and the technical solution observed and stated that they foresee sincere opportunities and demand for the implementation of such systems in Vietnam.


Thereafter the representatives of Hoa Binh where received by dr Martina Makai deputy state secretary for Green Economy Development and Climate Policy and Key Public Services in the Ministry of National Development, where discussions were focused on the possibilities of project financing offered by the international Green Climate Fund (GCF) and potential collaboration in other fields. “We believe that Vietnam will need this [Thermowatt] technology and we will do our best to successfully bring it to Vietnam together with Thermowatt” – declared Mr Le Viet Hai, CEO of Hoa Binh.  


As the event of major importance during present visit Mr Pal Kiss managing director of Thermowatt Ltd. and Mr Le Viet Hai, CEO of the Hoa Binh Corporation signed a Memorandum of Understanding at a ceremony held at the Ministry of Foreign Affairs of Hungary.


This Agreement between Thermowatt Ltd and Hoa Binh Corporation contains the expressed intention for the alliance between the two companies. The essential objective pursued by the partnership is to prepare and conclude projects and constructions in an initially expected value of 5 million USD annually, which incorporate the implementation of the wastewater heat utilising innovative and environment-friendly building cooling technological solution of Thermowatt Ltd. The partners defined in writing the division of tasks between themselves during project realisation, their exclusivity in subject cooperation and that they are jointly preparing and submitting proposal for the international Green Climate Fund (GCF).


In his welcoming speech Mr István Joó, Ministerial Commissioner for Water Diplomacy, Export and the Danube Region Strategy emphasized that Hungary is committed to strengthening the already excellent cooperation between Vietnam and Hungary, which will be fostered by projects implemented under the aegis of the MoU signed between the two companies. Prior to the signing ceremony, the Ministerial Commissioner discussed the opportunities of further cooperation in the field of water management with CEO Le Viet Hai.



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