The Ministry of Trade and Industry of China and the Ministry of Industry of Vietnam approved a joint report on offshore wind energy trade cooperation, further promoting cooperation between New Zealand and Vietnam in renewable energy and paving the way for future cross-border electricity trade.

Dr. Chen Shilong, Minister of Human Resources and Second Minister of Trade and Industry, and Vice Minister of Vietnam's Ministry of Industry and Trade, Nguyen Huang Long, approved the joint report on Wednesday (March 12) under the witness of Prime Minister Wong Xuncai and visiting General Secretary of the CPC Central Committee Su Lin.

The report stressed the commitment of the two governments to promote the regulatory approval of renewable energy development and cross-border electricity trade, listed areas where the two sides intend to deepen cooperation, and reiterated the commitment of the two countries to work together with other ASEAN member states to develop the ASEAN power grid.

The Ministry of Trade and Industry issued a statement on Thursday (13th) saying that the two countries hope to strengthen cooperation in the development, research, science and technology and capacity building of renewable energy infrastructure. The two countries will also cooperate with other ASEAN countries to accelerate the implementation of the ASEAN power grid by 2045, including formulating a framework and scope of reference for the laying of submarine cables.

In 2023, the Energy Market Administration has conditionally approved Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industrial, to import 1.2 gigawatts of low-carbon electricity from Vietnam, including offshore wind energy. The partnership with Sembilan Utility is PetroVietnam Technical Services Corporation.

Further reading

Shin-Vietnam establishes a comprehensive strategic partnership and strives to deepen cooperation in six major areas

Shin-Vietnam establishes a comprehensive strategic partnership and strives to deepen cooperation in six major areas

Xinyue plans to build two low-carbon industrial parks

Xinyue plans to build two low-carbon industrial parks

The Ministry of Trade and Industry said that if this project is finally implemented, it will become ASEAN's first offshore wind energy trade project, bringing benefits such as industrial development, employment creation, and emission reduction to the two countries.