The signing ceremony was witnessed by General Secretary Nguyen Phu Trong, Prime Minister of Cambodia Hun Xen, leaders of the Government and ministries of the two countries.
The Signing Ceremony of the memorandum on development of the power sector between Viet Nam and Cambodia
This important event provided a legal basis for promoting cooperation in the power sector between the two countries, especially in the area of grid connection, power exchange and development of power plant projects in Cambodia.
Through the Memorandum, the two countries agreed to continue to effectively implement the signed power purchase agreements between the two countries as well as to promote the research of power connections between Vietnam and Cambodia to support power exchange and stable grid operation.
In order to further expand the power exchange between Vietnam and Cambodia as well as in the region, the two sides also agreed to create facilitations for businesses of the two countries to invest in projects on power system connection between the two countries.
The Cambodian Ministry of Mines and Energy will create favorable conditions for Vietnamese enterprises to invest in power generation projects, with priority given to clean energy sources such as solar power, biomass and hydropower under Cambodian law.
The Memorandum contributes to promote the cooperation in the power sector between the two Ministries in order to promote the potential for cooperation between the two countries as well as within the framework of multilateral cooperation forums such as the ASEAN Power Grid Consultative Committee (APGCC), the Grand Mekong Sub-region (GMS), the Regional Electricity Co-ordinating Committee (RPTCC) and the ASEAN Regulatory Authority Network (AERN).
The Memorandum will create the momentum for bilateral cooperation between Vietnam and Cambodia in the power sector holistically, bringing practical benefits to enterprises and people of the two countries in the future.