Friendlier legal framework needed for offshore wind power development
Vietnam is believed to possess great potential for developing offshore wind power, but a friendlier legal framework is still needed to attract more foreign investment to this type of renewable energy, an insider has said.
Wind turbines of the Bac Lieu windpower plant in Vinh Trach Dong commune of Bac Lieu city, the Mekong Delta province of Bac Lieu (Photo: VNA)
Hanoi (VNA) – Vietnam is believed to possess great potential for developing offsho♔re wind power, but a friendlier legal framework is still needed to attract more foreign investment to this type of renewable energy, an insider has said.
In a recent interview with the Vietnam News Agency, Sean Huang, Development Manager of Copenhagen Offshore Partners (COP) - which is engaging in the La Gan offshore wind power project in Vietnam, spoke highly of the Vietnamese Party and Government’s vision and determination to boost energy transition.
He noted that offshore wind power has proved to be able to help Vietnam reduce dependence on imported fossil fuel, work to achieve net zero emissions, and switch to clean and sustainable energy.
This type of energy also holds great potential for helping to attract foreign direct investment and fuel local supply chains, he said, adding that the Vietnamese Government, resolved to secure net zero emissions in the next few decades, is moving in the right direction.
COP has seen closer cooperation between the Government and developers to share international experience in making regulations, mobilise capital, and transfer technology, according to him.
The official also pointed out certain challenges and risks to offshore wind power development in Vietnam, including those related to the legal framework, power purchase agreements, grid construction, and supply chains. Besides, technical differences may lead to a considerable gap in expenses and investment among land, inshore, and offshore wind power projects.
The country still lacks a particular legal framework for offshore wind power, and many agencies still base themselves on typical land or inshore wind power projects to consider offshore ones. As a result, unclear procedures have hampered offshore wind power developers from carrying out their projects on schedule, the official went on.
He recommended the Government create a friendlier investment climate and legal framework to encourage experienced foreign developers to make investment.
Such a favourable investment climate and legal framework will enable them to mobilise capital in the international market and promote the growth of domestic supply chains, thereby creating a prerequisite for the success of offshore wind power in the country./.
Trungnam Group put a wind power plant with a capacity of 46.2MW into operation in Ninh Phuoc district of the central province of Ninh Thuan on November 14.
The increasing proportion of clean energy such as solar and wind power in recent years has helped Vietnam diversify energy sources and reduce its dependence on imported energy, thus enhancing its national energy security, said Director of the Ministry of Industry and Trade’s Department of Electricity and Renewable Energy Hoang Tien Dung.
The B&T wind power farm cluster with a capacity of 252 MW was inaugurated in Quang Ninh and Le Thuy districts, the central province of Quang Binh on November 16.
Vietnam will increase offshore wind power capacity to 4 GW from 1 GW and onshore wind power capacity to nearly 17.34 GW from about 1.26 GW by 2030, according to the latest draft of the National Power Development Plan VIII.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Wind turbines of the Bac Lieu windpower plant in Vinh Trach Dong commune of Bac Lieu city, the Mekong Delta province of Bac Lieu (Photo: VNA)
