Vietnam, Singapore look to expand energy development cooperation
Vietnam is willing to cooperate with and learn from Singapore in developing green and sustainable energy industry towards ensuring energy security and safety, Deputy Minister of Industry and Trade Dang Hoang An has said.
Parrticipants at the working session (Photo: congthuong.vn)
Hanoi (VNA) - Vietnam is willing to cooperate with and learnfrom Singapore in developing green and sustainable energy industrytowards ensuring energy security and safety, Deputy Minister of Industryand Trade Dang Hoang An has said.
The Vietnamese official made the statement during a recent working session withKeith Tan, Deputy Minister designate of theSingaporean Ministry of Trade and Industry.
The two officials briefed each other of policy priorities for energy developmentin each country and acknowledged the outcomes of the first meeting of the Joint Working Group to implement the Memorandum ofUnderstanding (MoU) on Energy Cooperation between the two ministries in Januarythis year.
The Singaporean side expressed interest in investmentopportunities in energy development in Vietnam, especially renewable energy, inthe context that the Prime Minister of Vietnam has approved a nationalelectricity development plan in the 2021-2030 period, with a vision to 2050 (Power Development Plan VIII).
Singapore wishes to cooperate in the energy transition towards realisingVietnam's net zero emissions target, and is also interested in buyingelectricity from Vietnam, Keith Tan said.
An applauded Singapore's proposal in promotingenergy cooperation between the two countries and effectively implementing the MoUon energy cooperation, saying that the Vietnamese Ministry of Industry andTrade (MoIT) will develop a plan to implement Power Development Plan VIII in the near future.
Singaporean investors need to study, comply with, abide by relevant legal regulations and meet requirements of Vietnam in the process of implementing investment projects in Vietnam, he said.
According to statistics from the MoIT’s Asia–Africa Market Department, Singapore is the fifthlargest trade partner of Vietnam in ASEAN and the 11th in the world. It is the second largest foreign investor in Vietnam,with the highlight being 13 Vietnam - Singapore Industrial Parks (VSIP) across thecountry./.
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Parrticipants at the working session (Photo: congthuong.vn) 
