Singapore (VNA) – A Singapore-based Vietnamese expert has advised Vietnam to learn from Singapore’s approach to ensure energy security amid supply chain shortages.
According to Professor Vu Minh Khuong of the Lee Kuan Yew School of Public Policy, despite lacking natural energy resources, Singapore has built a proactive, adaptive and sustainable energy security strategy, proving resilient amid global volatility, including the ongoing Middle East tensions.
He further explained that Singapore’s governance mindset is rooted in preparedness for extreme disruptions. This enables the country to swiftly activate pre-designed policy responses. Over the past month, as energy prices surged and supplies tightened, Singapore has focused on three short- and medium-term priorities: providing targeted subsidies for vulnerable groups without distorting market prices; easing living costs for low-income households; and leveraging the crisis to accelerate green policies and energy efficiency.
Concrete measures include subsidies for energy-efficient household appliances, such as air conditioners and refrigerators, reducing electricity consumption by 10–15% through shared efforts by the government, businesses and consumers. Small and medium-sized enterprises are also supported with grants of up to 70,000 SGD (about 54,000 USD) per firm to implement energy-saving solutions.
On long-term strategy, Khuong underscored that Singapore’s resilience stems from diversifying both energy sources and suppliers, including imports from the US, Australia and ASEAN. In an increasingly uncertain global landscape, he stressed the importance of broadening the energy mix beyond fossil fuels to include renewables. He cited China as another example, as the nation has invested early in renewable energy and grid integration. Beyond infrastructure, he noted the need for mechanisms that encourage enterprises to build reserves, alongside enhanced energy governance through digitalisation of strategic resources.
Khuong summarised Singapore’s governance philosophy into the “3S” principle: Survival, Strategy and Synergy. The “Survival” mindset reflects constant awareness of external shocks; “Strategy” ensures long-term preparedness; and “Synergy” highlights coordination among stakeholders to turn challenges into opportunities.
For Vietnam, he suggested adopting similar approaches, including attracting major global energy investors to key hubs such as Nghi Son, Vung Tau and Hai Phong. Such investments, he noted, will not only drive growth but also strengthen national energy security and competitiveness.
At the same time, Vietnam should maximise its renewable energy potential to align with its net-zero emissions target by 2050. Preferential policies for renewable projects, coupled with stronger energy efficiency standards and audits, will help optimise resource use, phase out inefficient investments and foster innovation from the grassroots level, he added./.
VNA
