A Framework for Private Sector-Led Offshore Wind Projects in Viet Nam : Next Steps for Advancing Viet Nam’s Offshore Wind Journey

Overview & Synopsis

Viet Nam’s rapidly growing economy has created increasing energy demands, with significant untapped offshore wind resources located in shallow waters near population centers. While several near-shore projects were previously developed under a Feed-in-Tariff system, no far-shore installations exist yet. Despite initial interest from international developers, many investors withdrew while awaiting policy clarity. This report aims to inform industry stakeholders about Viet Nam’s current offshore wind policies and regulations while providing recommendations to the government for framework improvements that will support project success and help achieve national targets. For Viet Nam to realize its offshore wind potential and meet national energy targets, a balanced approach that leverages both state and private sector capabilities while providing a stable, attractive investment environment is essential.