Politics · Vietnam Bureau
Vietnam PM endorses PETRONAS expansion amid energy cooperation gains
Prime Minister Le Minh Hung has backed Malaysian energy giant PETRONAS' plans for further investment in Vietnam, underscoring three decades of bilateral partnership in the energy sector. The endorsement comes as Vietnam-Malaysia trade relations strengthen considerably.
LSN Vietnam ·
Vietnam's Prime Minister Le Minh Hung voiced support for PETRONAS' continued expansion plans in the country, highlighting the strategic importance of the Malaysian corporation's operations to Vietnam's energy security and economic development.
The backing reflects the enduring partnership between PETRONAS and Vietnam National Oil and Gas Group (Petrovietnam), which has spanned more than three decades. Both entities have collaborated extensively on energy projects that have contributed to Vietnam's energy independence while supporting regional stability and sustainable growth across Southeast Asia.
The move comes as bilateral trade between Vietnam and Malaysia shows robust momentum, having surged 43.4 percent over an eight-month period this year. Trade between the two nations is approaching the $20 billion mark, according to recent figures, signaling deepening economic ties beyond the energy sector.
Experts have noted that potential for expanded Malaysia-Vietnam cooperation remains substantial, particularly under the framework of the ASEAN-Malaysia Network Action Plan 2.0. The renewed focus on energy partnerships reflects both nations' commitment to leveraging their complementary resources and expertise for mutual prosperity.