Vietnam and Singapore shared the view on the need for a sustainable platform for energy cooperation toward joint response to climate change and sustainable development in accordance with commitments at the COP26. Photo: VNA

On April 29, in Hanoi, Deputy Minister of Industry and Trade Dang Hoang An joined with Singaporean Ambassador to Vietnam Jaya Ratnam to discuss a host of issues related to the energy sector. At the meeting, the Singaporean diplomat showed

Noting the results achieved during co-operation between both sides over recent times, especially in the fields of industry and energy, the two sides underlined the necessity of establishing a sustainable cooperation platform in the energy sector to jointly respond to climate change.

In addition, this move will ensure sustainable development in line with the commitments set at the 26th session of the UN Conference of the Parties (COP26).

Ambassador Ratnam expressed his interest in further ramping up joint activities in clean and renewable energy with the Vietnamese side, while Deputy Minister An highly appreciated the city state's proposal on bolstering energy ties between the two countries.

Most notably, both countries boast great potential for broader co-operation in the field of clean energy, especially for natural gas energy applied in production.

Currently, in order to reduce dependence on natural gas, Singapore is in the process of experimenting with importing electricity from neighbouring countries. Meanwhile, Vietnam can be viewed as one of the countries with the fastest rate of conversion to renewable energy in the region.

Deputy Minister of Industry and Trade Dang Hoang An (middle) speaks at the event. Photo: Ministry of Industry and Trade

In response, Deputy Minister An shared that Vietnam continues to be interested in energy transformation towards green energy and sustainable development. As a result, the country is always ready to co-operate and learn new technologies from other countries to meet the domestic energy demand.

At the end of the working session, the two sides consented to continue maintaining the exchange mechanism, thereby making it possible for them to make specific proposals and beef up energy co-operation.

In recent years, the two nations have enjoyed plenty of opportunities to hold exchanges at bilateral and multilateral energy forums.

Hosted by the Singapore Business Federation (SBF) on Feb 25, 2022, the Vietnam-Singapore Business Dialogue was attended by President Nguyen Xuan Phuc and around 100 government officials and business leaders from Singapore and Vietnam.

The Covid-19 pandemic saw a steep drop in the number of travelers between Singapore and Vietnam for the past two years, but the volume of trade between the two countries continued to grow at a steady pace.

Representing the Singaporean delegation at the Dialogue, Second Minister for Trade and Industry Tan See Leng addressed the achievements of bilateral trade between Singapore and Vietnam, adding that it reached S $26.9 billion last year, an 18.7% increase from the year before and that more Singapore companies are also choosing to invest in Vietnam, riding on and contributing to the country's steady economic growth.

Singapore's foreign direct investment into Vietnam amounted to nearly US$10.7 billion (S$14.5 billion) last year according to updates from Vietnam's authorities, making the Republic the largest investor in Vietnam last year, he added

Dr Tan, who is also Manpower Minister, was speaking at a business dialogue held in conjunction with the state visit of Vietnam's President Nguyen Xuan Phuc.

In response, President Nguyen Xuan Phuc said Vietnam hopes to grow not just the number but also the quality of investments from Singapore, in areas like the green economy and digital economy.

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