Vietnamese, Singaporean firms licensed to take first steps of offshore renewable energy project
The Petrovietnam Technical Services Corporation (PTSC) and its Singaporean partner Sembcorp Utilities Pte Ltd have been granted a survey license and a letter of content to carry out the steps related to a project on developing offshore renewable energy in Vietnam and exporting clean electricity to Singapore.
Hanoi (VNA) – The Petrovietnam Technical Services Corporation (PTSC) and its Singaporean partner Sembcorp Utilities Pte Ltd have been granted a survey license and a letter of intent to carry out the steps related to a project on developing offshore renewable energy in Vietnam and exporting clean electricity to Singapore.
The granting, in the presence of Prime Ministers Pham Minh Chinh and Lee Hsien Loong, was part of a conference held in Hanoi on August 29 to promote investment cooperation projects between the two countries.
There, the Vietnamese Ministry of Natural Resources and Environment (MoNRE) handed over a decision approving the monitoring, investigation, surveying, and assessment of marine resources to PTSC, a member of the Vietnam Oil and Gas Group (Petrovietnam). Meanwhile, the Singaporean Ministry of Trade and Industry presented a letter of intent approving this project to Sembcorp.
The moves enabled the two enterprises to take the next steps in their offshore renewable energy project in Vietnam to export clean electricity to Singapore.
With this license, PTSC is currently the first and only investor in Vietnam to have been permitted by the MoNRE to monitor, investigate, survey, and assess marine resources to develop offshore wind power.
In February 2023, PTSC and Sembcorp signed a joint development agreement on the cooperation in investing in and exporting electricity produced from offshore renewable energy in Vietnam to the city state.
Accordingly, their project will turn out some 2.3GW of power and export to Singapore through a submarine cable system to meet the country’s clean electricity demand from 2030.
💃 It is expected to help realise the two countries’ memorandum of understanding on building the partnerships in green economy and digital economy./.
The 17th Vietnam - Singapore Connectivity Ministerial Meeting took place in Hanoi on August 27 under the co-chair of Vietnamese Minister of Planning and Investment Nguyen Chi Dung and Singaporean Second Minister for Trade and Industry and Minister for Manpower Tan See Leng.
Phase 1 of the Vietnam - Singapore Industrial Park (VSIP) project in Vinh Thanh district, the Mekong Delta city of Can Tho, will have its construction started on September 9, according to the municipal People’s Committee.
Prime Minister Pham Minh Chinh and his visiting Singaporean counterpart Lee Hsien Loong agreed to consider upgrading the relationship between Vietnam and Singapore to a comprehensive strategic partnership in the time ahead, at their talks in Hanoi on August 28.
Chairman of the People's Committee of Binh Duong province Vo Van Minh on August 28 signed a decision approving the establishment of Vietnam-Singapore Innovation Centre in the southern locality.
Prime Minister Pham Minh Chinh and his visiting Singaporean counterpart Lee Hsien Loong on August 29 attended a conference in Hanoi to discuss measures aimed at speeding up Vietnam-Singapore joint projects.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
