Vietnam will export wind power to Singapore under a joint development agreement made between the two countries’ businesses on Friday, during the official visit of Vietnamese Prime Minister Pham Minh Chinh and his spouse to the island country.
The agreement was signed and exchanged between Vietnam’s PetroVietnam Technical Services Corporation (PTSC) and Sembcorp Utilities under Singapore’s Sembcorp Industries, a leading energy and urban solution provider, after a meeting between PM Chinh and Tow Heng Tan, deputy chairman of Sembcorp Industries.
The deal came on the last day of the three-day visit to Singapore by PM Chinh and his wife, Le Thi Bich Tran, and their entourage, at the invitation of his Singaporean counterpart Lee Hsien Loong.
“PM Loong and I had an exchange about Vietnam being able to provide 4,000MW of electricity to Singapore in the future through the building of a power transmission line in the East Vietnam Sea,” PM Chinh told Tow, citing his talks with the Singapore PM a day earlier.
Tow expressed his desire to receive the Vietnamese government’s facilitation for the cooperation plan between Sembcorp and PTSC to implement offshore wind power projects in Vietnam and export this type of green energy to the city-state.
|Vietnam’s Prime Minister Pham Minh Chinh and Tow Heng Tan, deputy chairman of Singapore’s Sembcorp Industries, are seen at their talks in Singapore on February 10, 2023. Photo: Duy Linh / Tuoi Tre
PM Chinh emphasized his support for Sembcorp’s efforts to develop renewable energy projects in Vietnam, including the aforementioned cooperation plan between the group and PTSC.
“It is our determination to do this in the spirit of harmonizing benefits and sharing risks,” said the leader of the Vietnamese government.
He emphasized that the investors of such projects can report any obstacles facing them during their project implementation through different channels, even directly to him, for resolution.
It was a right decision for Sembcorp to choose PTSC as its partner since the latter has experience and capacity to develop offshore wind power projects, PM Chinh said.
If the joint development agreement is successful, this will be a testament to the cooperation of the two countries, contributing to strengthening the foundation for establishing the digital green economy relationship that Vietnam and Singapore are aiming for, the PM said.
Besides the agreement, the group will continue boosting its operations in Vietnam, including Vietnam-Singapore Industrial Park (VSIP) projects, the Sembcorp deputy chairman said.
He also raised to PM Chinh a number of recommendations on amending and adjusting the Land Law.
Sembcorp Industries invests in Vietnam through Sembcorp Utilities in the energy sector and through another subsidiary, Sembcorp Development, in the fields of industrial park infrastructure and real estate, among others.
Also on Friday morning, PM Chinh received representatives of many Singaporean businesses, including United Overseas Bank, Surbana Jurong Group, Temasek Corporation, and Keppel Corporation, among others.
At his talks with PM Lee Hsien Loong on Thursday, the two leaders discussed measures to further promote the strategic partnership relations between the two countries across all fields.
They also witnessed the signing of various cooperative documents, including an MoU on the establishment of the Vietnam - Singapore partnership on green digital economy.