Petronas, Petrovietnam To Boost Energy, RE Cooperation In Vietnam - PM Anwar

KUALA LUMPUR, Feb 26 (Bernama) – Petroliam Nasional Bhd (Petronas) and Vietnam Oil and Gas Group (Petrovietnam) will expedite cooperation in Vietnam’s energy sector, encompassing upstream and downstream activities, gas, and renewable energy (RE), said Prime Minister Datuk Seri Anwar Ibrahim.

He said that with a focus on RE, both countries' oil companies are actively enhancing collaboration in power generation and grid connectivity from Vietnam to Malaysia.

“This initiative aligns with the ASEAN Power Grid (APG) aspiration to strengthen energy security in the ASEAN region through energy infrastructure integration,” he said in a post on his official Facebook page

Anwar met with Vietnam’s Prime Minister, Pham Minh Chinh, during a breakfast session as part of his two-day working visit to Vietnam, which began yesterday.

The prime minister highlighted that Malaysia is seriously investing in green energy, including wind-based energy projects in southern Vietnam and major initiatives such as the Gentari-Petrovietnam collaboration.

"This reflects a strategic move to strengthen regional energy security and ensure a more sustainable transition," he said.

He added that Malaysia and Vietnam share strong network ties, further reinforced by the Comprehensive Strategic Partnership.

"This is not just an agreement on paper but a commitment to deepening cooperation in key sectors, namely trade, investment, green energy, digital technology, and regional security," said Anwar.

At the same time, he emphasised that Malaysia foresees significant potential in the semiconductor industry, artificial intelligence and digital economy, and that it is ready to enhance the integration of supply chains between both countries.

"Malaysian investors have played a key role in Vietnam’s economic landscape, and we want to see more joint ventures in high-impact projects," he added.

Meanwhile, trade between Malaysia and Vietnam in 2024 rose by 4.4 per cent to US$18.4 billion (RM83.11 billion) from US$17.38 billion in the previous year, reflecting growing trade between the two ASEAN members.

Vietnam was Malaysia’s 11th largest trading partner in 2024, accounting for 2.9 per cent of Malaysia’s total trade. It was also Malaysia’s 10th largest export destination with a 3.6 per cent share, and the nation’s 13th largest import source with a 2.1 per cent share of Malaysia’s total imports.

-- BERNAMA