Vietnam – Malaysia – Singapore Renewable Power Export Project Achieves Milestone at SIEW 2026
On October 26, 2026, in Singapore, a Vietnamese delegation headed by Deputy Minister of Finance Cao Anh Tuan attended Singapore International Energy Week (SIEW) 2026. Within the framework of the event, under the witness of the Vietnamese Deputy Minister alongside the Deputy Prime Minister of Malaysia and Singapore's Minister for Energy and Industry, the Vietnam – Malaysia – Singapore (VMS) Renewable Energy Export Project—developed with the core participation of Vietnam National Industry - Energy Group (PETROVIETNAM) through its subsidiary PetroVietnam Technical Services Corporation (PTSC)—was officially awarded Conditional Approval (CA) by the Energy Market Authority of Singapore (EMA), marking a historic stride forward in trilateral energy cooperation.
Vietnam Accelerates Regional Energy Connectivity at SIEW 2026
Singapore International Energy Week (SIEW) 2026 took place at the Marina Bay Sands Convention Centre in Singapore. This premier international forum convened government representatives, energy regulators, multilateral institutions, and industry leaders to discuss energy security, energy transition, and cross-border electricity interconnection.
Joining the Vietnamese delegation at SIEW 2026 on behalf of PETROVIETNAM was Mr. Phan Tu Giang, Vice President of the Group; representing PTSC was Mr. Tran Ho Bac, President and CEO, accompanied by senior officials from relevant divisions.
During the event, Deputy Minister Cao Anh Tuan and executive leaders from PETROVIETNAM and PTSC held a bilateral meeting with Ms. Gan Siow Huang, Minister of State for Foreign Affairs and Energy, Trade and Industry of Singapore, to discuss bilateral energy partnerships, focusing specifically on accelerating the VMS Project.
Deputy Minister Cao Anh Tuan expressed appreciation for Singapore's gracious reception and spoke highly of EMA granting Conditional Approval to the VMS Project. Affirming that the Government of Vietnam attaches great importance to and strongly endorses the venture, the Deputy Minister noted that Vietnam has already granted two offshore survey permits to PTSC to support the study and development of offshore wind power resources. The Ministry of Finance, as the state ownership representative agency at PETROVIETNAM, fully supports the execution of this clean power export initiative in alignment with national energy master plans and regional economic integration.
In the spirit of sustainable partnership, Deputy Minister Cao Anh Tuan expressed his hope that Singapore will continue to extend close support and coordinate effectively with participating stakeholders to maintain project execution momentum. Through this collaboration, the VMS Project is positioned to become a flagship model of ASEAN multilateral energy cooperation, laying the foundation to realize the ASEAN Power Grid (APG) initiative, strengthening regional grid interconnections, and reinforcing energy security.
Vietnam's active participation at SIEW 2026 comes amid surging momentum across ASEAN toward cross-border energy cooperation, driven by the imperative to diversify power supplies, accelerate renewables, and achieve ambitious net-zero emission targets. For Vietnam, clean power export initiatives unlock vast offshore wind potential, foster advanced energy industries, and deepen strategic economic ties with regional partners.
VMS Project Formally Awarded Conditional Approval by Singapore
The prominent highlight of the SIEW 2026 opening day was the Conditional Approval (CA) Handover Ceremony for the VMS Project on the morning of October 26, 2026, at Marina Bay Sands.
The ceremony took place under the joint witness of Deputy Minister of Finance of Vietnam Cao Anh Tuan; Dr. Tan See Leng, Minister for Energy and Industry at the Ministry of Energy, Trade and Industry of Singapore; and Datuk Amar Haji Fadillah bin Haji Yusof, Deputy Prime Minister and Minister of Energy Transition and Water Transformation of Malaysia.
This represents one of the crucial inaugural regulatory milestones for the trilateral cooperative initiative, establishing a concrete foundation for the consortium to advance detailed engineering studies, finalize commercial structures, and navigate statutory licensing across Vietnam, Malaysia, and Singapore. Furthermore, this achievement recognizes the tireless, synchronized efforts of participating enterprises and regulators in cultivating a mega-scale cross-border energy development in Southeast Asia.
Under the development concept currently being advanced, the VMS Project is designed to harness approximately 2 GW of offshore wind generation capacity off the southern coast of Vietnam. Electricity will be transmitted across an undersea high-voltage cable corridor spanning nearly 800 km to Malaysia. In Malaysia, a portion of the imported clean electricity will serve domestic consumption, while the remaining balance will be integrated with Malaysian solar power to export approximately 1.3 GW of reliable renewable electricity to Singapore. The project is targeted to commence commercial power supply from 2035, with an operating concession spanning approximately 30 years.
Leveraging PETROVIETNAM and PTSC Capabilities in Emerging Clean Energy Value Chains
The VMS Project has evolved from the strategic partnership established between PTSC and Sembcorp in 2023. Throughout project preparation, PTSC successfully completed an exhaustive 12-month offshore wind and metocean data acquisition campaign in offshore areas formerly under Vung Tau administration, while mobilizing advanced laser wind-measurement equipment (LiDAR) and dedicated offshore vessels to prepare for subsequent survey campaigns across prospective areas off Lam Dong.
With more than three decades of specialized experience in petroleum technical services and offshore engineering, PTSC has amassed world-class capabilities in executing technically complex, mega-scale offshore developments. This proven track record provides a solid springboard for the enterprise to systematically expand into the renewable energy sector, with a primary focus on offshore wind.
Participating in the VMS Project aligns squarely with PETROVIETNAM's strategic roadmap in the industry and energy sectors, translating the government's orientation to develop export-oriented offshore wind under the adjusted Power Development Plan VIII (PDP8) into tangible reality. Project execution is anticipated to attract substantial international capital, boost domestic localization of equipment and technical services, generate high-skill employment, and cultivate specialized workforce capabilities in clean energy.
The high-level leadership of Deputy Minister Cao Anh Tuan, witnessing the Conditional Approval ceremony and engaging directly with Singaporean authorities, clearly underscores the Vietnamese Government's steadfast backing for the project. Receiving Conditional Approval at SIEW 2026 injects powerful momentum into trilateral collaboration between Vietnam, Malaysia, and Singapore. Backed by government leadership and driven by the region's top energy corporations, the VMS Project is set to make a substantive contribution to the realization of the ASEAN Power Grid, fortifying regional energy security and driving the sustainable energy transition across Southeast Asia.