Singapore Group to build a billion-dollar wind power project in Vietnam

On the morning of February 10, on the occasion of his visit to Singapore, Prime Minister Pham Minh Chinh received Mr. Tow Heng Tan, Vice Chairman of the Board of Directors of Sembcorp Group, and witnessed the handover ceremony of the cooperation agreement for this group's offshore wind power project in Vietnam. to export electricity to Singapore.

Prime Minister Pham Minh Chinh received leaders of Sembcorp Group on his official visit to Singapore, on the morning of February 10.

At the meeting, Mr. Tow Heng Tan said that the group will promote investment in Vietnam, including expanding VSIP industrial park projects and renewable energy projects.

Tow Heng Tan said that the group through this joint venture will cooperate with PetroVietnam Technical Services Corporation (PTSC, a subsidiary of Vietnam Oil and Gas Group - PVN) to deploy the project. offshore wind power project. This project has the goal of exporting electricity to Singapore.

Prime Minister Pham Minh Chinh welcomed this plan of Sembcorp. Currently, Vietnam and Singapore are discussing the construction of a power transmission line through the East Sea on the basis of harmonized benefits and shared risks.

The Prime Minister asked PVN to closely cooperate with Singapore to implement the project, and "said to do it, committed to implement it and implement it effectively."

Regarding the development of VSIP industrial parks in Vietnam, the Prime Minister suggested that Sembcorp cooperates with Vietnamese agencies, Lang Son and Nghe An provinces to implement the VSIP project; expanding project investment in other localities in the direction of urban-integrated smart industrial parks and high-tech services.

Currently, VSIP has 12 industrial parks in 9 provinces and cities with an occupancy rate of over 83%, attracting 17.6 billion USBs of total investment capital for about 900 projects, creating jobs for nearly 300,000 workers.

Prime Minister Pham Minh Chinh and his wife Le Thi Bich Tran are on an official visit at the invitation of Prime Minister Lee Hsien Loong. In 2021, trade turnover between Vietnam and Singapore will reach 8.3 billion USD and increase to about 9 billion USD in 2022.

Singapore is the largest investor of ASEAN in Vietnam. This country ranked 2nd out of 141 countries and territories investing in Vietnam, with 3,095 projects and total registered capital of 70.8 billion USD last year.

Singapore's investment in Vietnam over the past time.

On the same day, the Prime Minister received Mr. Le Chong Min, Chairman of CMIA Investment Fund, and Ms. Nina Yang, CEO of Surbana Jurong Group (SJ). These are two enterprises developing the project of a high-tech agricultural ecological urban area in Ho Chi Minh City in Cu Chi district.

The Prime Minister asked CMIA and SJ to coordinate with consultants and localities to implement agreements, creating a basis for promoting project implementation in the future. He noted that investors should reserve the most favorable location for production and business, before developing real estate and building urban areas.

"It is necessary to promote production and business in accordance with the distinct potential and future competitive advantages of Cu Chi in the overall connection with Ho Chi Minh City, Binh Duong, and the whole Southeast region", he suggested.