Project

Vietnamese enterprises must hold at least 5% of offshore wind power projects

Published

1 day ago

March 16, 2025

Offshore wind power projects in Vietnam must have the participation of domestic enterprises with at least 5% of chartered capital or voting shares of the company that implements such projects.

The “domestic enterprises” must be wholly state-owned enterprises (SOEs) or firms with SOEs holding more than a 50% stake.

The above regulations are mentioned in the government’s Decree 58/2025 on renewable and new energy, effective from March 3, 2025.

A sea-based wind power project in Bac Lieu province, Mekong Delta, southern Vietnam. Photo courtesy of Market Times magazine.

Another requirement for foreign investors is that they must have experience in investing and developing at least one offshore wind power project that is operational in Vietnam or in the world.

“Experience” includes direct investment, contributing a minimum 15% of the project’s total investment capital, and the ratio of equity to capital contribution being at least 20%.

If not contributing capital, the foreign investors must be a unit performing one of the following activities: project management or design or construction.

In case the project investor is a consortium, “experience” is the total experience of the consortium members.

They must also commit to utilizing domestic supplies (workforce, service, products) during their investment, construction and operation, on the basis of ensuring competitiveness of prices, quality, schedule, and available capability.

Vietnam currently has no offshore wind power projects. The country targets to add 6,000 MW of offshore wind power to its masterplan by 2030 and put the related projects into operation in 2030-2035, Deputy Minister of Industry and Trade Nguyen Hoang Long said last week. The target is 113,503-139,097 MW of offshore wind power by 2050, he added.

German renewable energy developer Pure New Energy’s (PNE) $4.6 billion Hon Trau wind power project in Vietnam’s south-central province of Binh Dinh has recently been re-classified as a nearshore wind power project.

Copenhagen Infrastructure Partners (CIP), a major Danish renewable energy developer, entered Vietnam in 2019 with the 3.5 GW La Gan offshore wind farm project in Binh Thuan province as its first project.

Up Next

Vietnam’s industrial production inches up 0.4% in January

Don't Miss

Hung Yen develops industrial parks to attract investment

Project

Promoting circular economy in industrial parks

Published

19 minutes ago

March 17, 2025

Industrialzone.net

The benefits of green transformation in industrial parks are both huge and lasting, according to leaders of the Ministry of Planning and Investment. However, in the short term, many challenges and obstacles have meant the transition process has not been as strong as expected.

The Ministry of Planning and Investment and the United Nations Industrial Development Organization (UNIDO) held a conference entitled “Advancing circular economy in Vietnam’s industrial parks for sustainable development” on the afternoon of April 12.

In his opening speech, Le Thanh Quan, Director General of the Department of Economic Zones Management under the Ministry of Planning (MPI), said that in the more than 30 years of establishment and development, industrial and economic zones have been recognised as playing an important role in fostering socio-economic development, accelerating the process of industrialisation and modernisation, and promoting international integration.

Circular economic development is a trend that many countries around the world consider to be the green industrial revolution of the 21st century and is consistent with the country’s development orientation in the coming period. In particular, the eco-industrial park model is seen as the driving force to boost the circular economy.

According to Quan, the benefits of this transformation are great and long-lasting, but in the short term, many obstacles are preventing the transformation process from taking place as strongly as expected.

Smail Alhilali, Industrial Development Officer at the Department of Environment, UNIDO, said: “Promoting circular economy in industrial zones can help Vietnam to not only reduce environmental impacts but also create opportunities for innovation and green growth.”

Vietnam has a lot of potential. With existing support and available directions, Vietnam should learn from previous countries and successfully implement digital and energy transformation. The country should not only focusing on cleaner production and reduced emissions but also address the consumption issues.

The conference included discussion sessions on the important role of industrial parks in implementing circular economy principles, the opportunities and challenges of integrating circular economy activities between different industries in industrial parks, and others.

Project

Foreign offshore wind power investors can sell projects, Vietnam SOEs prioritized to buy

Published

1 hour ago

March 17, 2025

Industrialzone.net

Foreign investors of offshore wind power projects in Vietnam can sell their projects, and wholly state-owned enterprises (SOEs) or subsidiaries of those SOEs are prioritized to buy them.

The transaction is only permitted if the Vietnamese investors in the company refuse to purchase, according to the government’s Decree 58/2025 on renewable and new energy, effective from March 3, 2025.

Transactions of a part of an offshore wind project or an entire project must comply with the Electricity Law 2024 and other laws related to investment, enterprises, and sea.

They must be approved by the Ministry of National Defense, the Ministry of Public Security, the Ministry of Foreign Affairs, and the Ministry of Industry and Trade if there is involvement of foreign investors.

A sea-based wind power project in Tra Vinh province, Mekong Delta, southern Vietnam. Photo courtesy of Trungnam Group.

In cases of not-yet operational projects, the foreign buyers must meet the following requirements.

First, they must have experience in investing and developing at least one offshore wind power project that is operational in Vietnam or in the world. “Experience” includes direct investment, contributing a minimum 15% of the project’s total investment capital, and the ratio of equity to capital contribution being at least 20%.

Second, the foreign buyers must ensure that the offshore wind power project has the participation of domestic enterprises with at least 5% of chartered capital or voting shares of the company that implements such projects. The “domestic enterprises” must be wholly state-owned enterprises (SOEs) or firms with SOEs holding more than a 50% stake.

Third, they must commit to utilizing domestic supplies (workforce, service, products) during their investment, construction and operation, on the basis of ensuring competitiveness of prices, quality, schedule, and available capability.

For operational projects, the transations must meet the “second” requirement mentioned above.

Project

Law on national defence, security industry, industrial mobilisation passed

Published

3 hours ago

March 17, 2025

Industrialzone.net

The 15th National Assembly (NA) on June 27 passed the law on national defence-security industry and industrial mobilisation in its ongoing seventh plenary session.

Specifically, all the 464 deputies present in the sitting, or 95.47% of the total number of deputies, said “yes” to the law.

The law comprises seven chapters and 86 articles.

Article 80 in the draft law proposed earlier about the responsibilities of People’s Court was removed, while Article 28 was added on the development of technologies with dual purposes and Article 71 on training, research, and expert exchanges to serve defence-security industry.

The law will take effects from July 1, 2025.