SINGAPORE TO IMPORT 1.2GW OF LOW-CARBON ENERGY FROM VIETNAM

Singapore’s Energy Market Authority (EMA) on October 24 announced that it has given tentative approval for plans to import 1.2 gigawatts (GW) of primarily wind-generated electricity from Vietnam.

The latest conditional approval – given to power import projects preliminarily found to be technically and commercially viable – comes after similar authorisations for a 1 GW import plan from Cambodia and 2 GW from Indonesia earlier in the year.

The Vietnam power import venture, involving Singapore’s Sembcorp Utilities (SCU) and Vietnam’s state-owned PetroVietnam Technical Services Corporation (PTSC), includes the laying of subsea power cables spanning around 1,000 kilometres between the two countries.

During an official visit of Vietnamese Prime Minister Pham Minh Chinh to Singapore in February 2023, PTSC and SCU signed an investment cooperation agreement for energy export to Singapore from offshore renewable energy in Vietnam.

Accordingly, PTSC and SCU will cooperate to invest in an offshore wind farm in Vietnam with an initial capacity of about 2.3 GW and export electricity directly to Singapore via a high-voltage underground cable.

Sembcorp said the Vietnam offshore wind farm could start operating by 2033 subject to approvals and barring unforeseen events.

To achieve net zero carbon emissions by 2050, the Singapore Government plans to import 30 per cent of its electricity needs by 2035 from clean energy sources as well as introduce a progressive carbon tax roadmap.

Source: VIR

Related News

MEMBER CORNER / PROMOTIONS

DOING BUSINESS WITH CHINA 2.0

As China continues to evolve into a global powerhouse in innovation, technology, and advanced manufacturing, understanding how to effectively engage with this market has never been more critical. Doing Business with China 2.0 is a flagship executive programme designed to equip business leaders with practical insights, strategic perspectives, and first-hand exposure to navigate China’s rapidly changing landscape.

Apr 17, 2026

HR / LABOUR/ EMPLOYMENT

VIETNAM TAPS AI TO CONNECT MILLIONS OF WORKERS WITH EMPLOYERS

Vietnam’s Ministry of Home Affairs on April 14 launched a national job exchange at vieclam.gov.vn, a key digital platform designed to directly connect more than 53.6 million workers with nearly one million businesses. The platform goes beyond a conventional job portal, positioning itself as a nationwide data-integrated ecosystem. Its technological highlight is the use of artificial intelligence (AI) to automatically analyze and match job vacancies with workers’ skills and experience.

Apr 16, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

HCMC SET TO START WORK ON SEVEN MAJOR INFRASTRUCTURE PROJECTS

Ho Chi Minh City plans to simultaneously break ground on seven major infrastructure projects worth a combined VND380 trillion on the occasion of Vietnam’s Reunification Day (April 30). The projects are highly expected to unlock public investment and fuel economic growth. To prepare for the simultaneous launch, relevant departments and authorities have worked to streamline administrative procedures while maintaining legal compliance, with the goal of meeting conditions for groundbreaking on the occasion of the national holiday.

Apr 16, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

VIETNAM GETS US$2.64 BILLION FROM SEAFOOD EXPORTS IN Q1

Vietnam’s seafood sector booked around US$927 million in export revenue in March, bringing the total in the first quarter of this year to US$2.64 billion, showed data from the Vietnam Association of Seafood Exporters and Producers (VASEP). China was the primary export market in Q1. Other markets such as the U.S., Japan and South Korea imported less due to weakened consumer spending and stringent technical barriers.

Apr 16, 2026

HOSPITALITY / TOURISM / ENTERTAINMENT

VNAT EYES 25 MILLION FOREIGN VISITORS IN 2026

In the first quarter of the year, international arrivals amounted to 6.7 million, up 12.4% from a year earlier and the highest level on record. Domestic travel reached an estimated 37 million trips, with total tourism revenue at around VND267 trillion. Global developments pose risks. Geopolitical tensions in the Middle East have driven up fuel prices, increasing transport and tourism service costs.

Apr 16, 2026

BANKING / FINANCE / INSURANCE / TAX

US$250-MILLION DEAL ADVANCES VIETNAM’S GREEN CREDIT PUSH

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has secured a US$250-million sustainable financing package to support green agriculture and small and medium-sized enterprises (SMEs), marking a major step in mobilizing international capital for priority sectors. The facility was arranged in partnership with the Asian Development Bank (ADB), alongside international partners including the Japan International Cooperation Agency (JICA) and the Government of Canada.

Apr 16, 2026