Vietnam has expressed keen interest in tapping into the potential of exporting renewable energy to Singapore, underscoring the growing cooperation between the two nations.
During the 17th Vietnam-Singapore Ministerial Meeting on Economic Connectivity on August 27 in Hanoi, Nguyen Chi Dung, Vietnam’s Minister of Planning and Investment revealed, "Several regions in Vietnam are keenly exploring the potential of exporting renewable energy to Singapore."
The energy sector, particularly in terms of renewables, has emerged as a new and significant pillar of cooperation, which is now included in the Framework Agreement on Vietnam-Singapore economic ties.
Dung mentioned that during the 16th iteration of the conference, preliminary discussions were held regarding the possibility of Vietnam selling electricity from its renewable energy projects to Singapore.
"Currently, numerous localities in Vietnam have expressed interest in exporting renewable energy to Singapore," the minister added.
To implement this vision, the Ministry of Planning and Investment will propose the formation of a dedicated task force.
The ministry will review and refine the legal regulations to ensure smooth and compliant renewable energy exports to Singapore, in line with the associated Vietnamese laws including the Electricity Law, the Maritime Law, and the National Power Development Plan VIII.
Additionally, Minister Dung informed that both the Vietnamese and Singaporean governments have recently approved the enhancement of the Framework Agreement on Economic Connectivity between the two nations. This move aims to better respond to both regional and global challenges while capitalising on the emerging opportunities.
Upon its revision, the framework will be centred around five main pillars, including connectivity, sustainable development, infrastructure, digital technology, and innovation, covering a range of sectors such as education, finance, IT and telecommunications, tourism, investment, trade and services, and transportation.
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