Malaysia is set to attract fresh investments in the energy sector from Singapore and Vietnam, according to Deputy Prime Minister Datuk Seri Fadillah Yusof.
Fadillah, who also serves as Minister of Energy Transition and Water Transformation, revealed that detailed discussions on potential investments will take place during meetings later today with Singapore’s Senior Minister of Trade and Industry and Culture, Community and Youth, Low Yen Ling, and Vietnam’s Deputy Minister of Industry and Trade, Nguyen Hoang Long.
He noted that Singapore’s minister is expected to talk about extending the current renewable energy import agreement with Malaysia, which is approaching its expiry date.
Fadillah also mentioned Malaysia’s readiness to export an additional 100MW of power if Singapore’s energy supply arrangement with Laos falls through. He plans to address the Asean Power Grid initiative with the ministers next year, aiming to enhance regional energy connectivity.
The Asean Power Grid project focuses on integrating the electricity networks of Asean countries to improve energy security, promote efficient energy use, and develop a regional electricity market. The initiative is designed to facilitate cross-border electricity trade and ensure a more reliable and sustainable energy supply within the region.
Fadillah emphasised the importance of Asean nations supporting each other in meeting power demands. “This is a key issue I plan to discuss with our Asean partners,” he stated.
In discussions with Vietnam, known for its significant wind power resources, Fadillah noted that Malaysian companies Petronas and Tenaga Nasional Bhd are interested in investing in the country’s energy sector. He also mentioned exploring the feasibility of an undersea power cable from Vietnam to Kota Bharu, Kelantan, which could potentially supply power to Singapore and other Asean nations.
Fadillah is scheduled for additional meetings with Brunei’s Minister in the Prime Minister’s Office and Defence Minister II, Pehin Halbi, and Japan’s Parliamentary Vice-Minister of Economy, Trade and Industry, Nobuhiro Yoshida. He will also attend a Ministers’ Lunch hosted by Peru’s Ministry of Energy and Mines.
