HANOI: Prime Minister Datuk Seri Anwar Ibrahim hopes the cooperation between Malaysia’s Petronas and Vietnam’s Petrovietnam in the maritime border area will be formalised by May. The deal, involving investments worth billions of ringgit, is expected to bring returns to both countries. Anwar said the agreement should be signed in May.

During his visit to Vietnam, Anwar, along with Petronas CEO Tan Sri Tengku Muhammad Taufik, attended discussions with the Vietnamese delegation, led by Prime Minister Pham Minh Chinh. The cooperation will focus on energy, including upstream, downstream, gas, and renewable energy sectors. The two countries are also exploring connections for power generation and the ASEAN Energy Grid, potentially extending to the southern Philippines.

In 2024, trade between Malaysia and Vietnam rose by 4.4%, reaching US$18.14 billion, with Vietnam becoming Malaysia’s 11th largest trading partner.