Dr. Tan See Leng, Second Minister for Trade and Industry of Singapore, and Mr. Nguyen Hong Long, Deputy Minister of Industry and Trade of Vietnam, jointly signed a joint report on Vietnam-Singapore offshore wind power trade cooperation on March 12, 2025. According to the content of the report, Singapore and Vietnam are committed to accelerating the process of clean energy transition and strengthening bilateral cooperation in the field of renewable energy.

The joint report provides important references for the two governments in the regulatory approval and permitting of renewable energy development and cross-border electricity trading, while also promoting deeper cooperation in areas such as infrastructure construction, research and development, technology exchange, and capacity building. In addition, the joint report highlights the cooperation commitment of Singapore and Vietnam with other ASEAN member states in accelerating the realization of the ASEAN Power Grid, particularly in formulating the framework and terms of reference for submarine cables.

The Energy Market Authority of Singapore conditionally approved Sembcorp Utilities' plan to import 1.2 gigawatts of low-carbon electricity from Vietnam in October 2023. The imported power project will utilize offshore wind technology and may be combined with other energy projects jointly developed by Vietnam Oil and Gas Group. Once implemented, the plan is expected to mark the first offshore wind power transaction project in the ASEAN region.