EVNGENCO2 and Sembcorp sign a strategic agreement at a ceremony held both online and offline on Sunday. — Photo courtesy of the organisers

Power Generation Corporation 2 – JSC made its debut on Sunday and signed a strategic agreement with Singapore’s Sembcorp Industries to promote ties in corporate governance, digital transformation and renewable energy development.

Tran Phu Thai, chairman of the company, better known as EVNGENCO 2, said EVNGENCO2 became a joint stock company on July 1, and is the first State-owned enterprise to successfully privatise under Decree 126 and Decree 140 on the equitisation of State-owned enterprises since the Committee for Management of State Capital at Enterprises was established.

In its development strategy, the company emphasises corporate governance modernisation, digital transformation and green transformation.

“To implement this strategy, EVNGENCO2 will pay special attention to attracting talents and expanding international cooperation, especially with leading corporations in the energy sector, including Singapore's Sembcorp.”

The three areas of cooperation are Sembcorp’s strengths and in line with EVNGENCO2’s strategic development targets, he said.

“The strategic cooperation with Sembcorp will be the first step towards raising the scale, brand and position of the Power Generation Corporation 2 in future. EVNGENCO2 hopes that, with the cooperation of Sembcorp, we will develop further and gain more success.”

The Government approved an equitisation plan for EVNGENCO2, a subsidiary of Vietnam Electricity, in December last year, and in May it listed and began trading on UPCoM with the stock code GE2.

At the end of last year it had an installed power capacity of 4,461 MW, or 6.4 per cent of the country’s total.

Sembcorp is a leading energy and urban development player in Singapore that has invested in 10 Vietnam-Singapore industrial parks (VSIP) in Viet Nam. — VNS