Vietnam-Singapore agree on the possibility of signing an Agreement on the purchase and sale of low-carbon electricity

Thanh Hà |

Vietnam - Singapore agree on the possibility of signing an intergovernmental agreement on cross-border low-carbon emission electricity trading.

On April 16, at the Government Headquarters, Politburo Member, Prime Minister Le Minh Hung had a phone call with Singaporean Prime Minister Lawrence Wong.

Prime Minister Lawrence Wong congratulated Prime Minister Le Minh Hung on being trusted to be elected Prime Minister for the 2026-2031 term, expressing his desire to cooperate closely with Prime Minister Le Minh Hung to bring the Vietnam - Singapore Comprehensive Strategic Partnership to develop strongly, substantively, and effectively.

Thanking Prime Minister Lawrence Wong for sending letters and congratulatory phone calls, Prime Minister Le Minh Hung shared that Vietnam is about to issue a new policy to attract more foreign investment into Vietnam, including Singaporean investors; requesting Singapore to support Vietnam in building international financial centers; expanding and upgrading the network of new generation Vietnam - Singapore Industrial Parks (VSIP) associated with high technology transfer.

Prime Minister Lawrence Wong expressed high agreement with the assessments and proposals of Prime Minister Le Minh Hung, affirming that Singapore values relations with Vietnam and is ready to implement the agreed cooperation contents; emphasized the desire to strengthen high-level exchanges, economic cooperation, defense - security and other fields, contributing to peace, stability and regional development.

Prime Minister Lawrence Wong also said that Singapore will increase the total number of VSIPs in Vietnam to 30 industrial parks in 2026, to celebrate the 30th anniversary of this successful project's presence in Vietnam; committed to continuing to support Vietnam in training and developing human resources, especially strategic-level cadres, through signing new agreements on cadre training and expanding the Singapore Development Cooperation Program to localities in Vietnam.

The Prime Minister of Singapore expressed his belief that the relationship between the two countries will continue to develop strongly and wished to make breakthroughs in new fields such as carbon credit exchange and cooperation to ensure food security.

The two Prime Ministers agreed to continue to consolidate political trust, promote delegation exchanges, high-level and all-level contacts; maintain the effectiveness of existing cooperation mechanisms, including the annual exchange mechanism between the two Prime Ministers; soon deploy the Strategic Dialogue mechanism between the two ruling Parties in 2026; cooperate to ensure energy security.

The two sides also affirmed to prioritize and allocate resources in effectively implementing the Comprehensive Strategic Partnership Action Program for the period 2025-2030.

The two sides also agreed on the possibility of signing an intergovernmental agreement on cross-border low-carbon emission electricity trading, creating a legal framework to ensure the successful implementation of wind power export projects from Vietnam to Singapore.

In the complex international context, Prime Minister Le Minh Hung proposed that the two countries strengthen ASEAN cooperation, closely coordinate in 2027 when Singapore is the ASEAN Chair, Vietnam hosts APEC; promote defense and security cooperation, combat transnational crime, support the construction, operation and management of the National Data Center, High-Performance Computing and Artificial Intelligence Center and promote effective and substantive COC negotiations.

On this occasion, Prime Minister Lawrence Wong respectfully invited Prime Minister Le Minh Hung to pay an official visit to Singapore.

Thanh Hà
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