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

Cũng có sẵn bằng tiếng Việt.

Advancing Offshore Wind in Viet Nam

The World Bank Group has published a new report to inform industry stakeholders about Viet Nam’s current policies and regulatory landscape.

The report also provides targeted recommendations to the government for enhancing the policy framework to support private sector-led project success and help the country meet its national energy goals.

Viet Nam: A Potential Powerhouse for Offshore Wind

With abundant offshore wind resources near major population centers, strong manufacturing capabilities, and a strategic location, Viet Nam is well-positioned to become a regional hub for offshore wind — enhancing energy security and tapping into export opportunities across Asia.

A Framework for Private Sector-Led Growth

Under Power Development Plan VIII (PDP8), Viet Nam aims to develop 6–17 GW of offshore wind capacity by 2030–2035 and up to 139 GW by 2050. Meeting these goals will require substantial private sector investment beyond the current State-Owned Enterprise-led efforts.

The report introduces a practical framework for offshore wind development that aligns with international best practices while minimizing changes to existing Vietnamese regulations. This approach is designed to attract international investment and foster domestic industry growth.

To enhance the foundations for Viet Nam’s offshore wind industry, the report recommends twelve key actions:

1. Establish long-term plan for award capacities and competitions
2. Appoint a cross-ministerial offshore wind coordination body
3. Align offshore wind zones with the National Marine Spatial Plan and announce the first 10 GW of development blocks
4. Streamline survey rights award process  
5. Review capacity density limits  
6. Plan grid and harbor infrastructure  
7. Review Survey License validity period and data disclosure timeframes
8. Detail the Stage 1 Survey License Approval process   
9. Improve Power Purchase Agreement (PPA) bankability
10. Detail the Stage 2 Price Competition rules
11. Review permitting processes for development, construction and operations activities
12. Review PPA price adjustment mechanisms and mitigate bid price delivery risk  

About this Report

This report was funded by ESMAP and the Australian Government’s Department of Foreign Affairs and Trade (DFAT), and developed in close collaboration with the International Finance Corporation (IFC). The World Bank Group acknowledges the valuable cooperation of Viet Nam’s Ministry of Industry and Trade (MoIT) and Ministry of Agriculture and Environment (MAE).

Since its launch in 2019, the World Bank Group's Offshore Wind program has provided technical assistance to 26 client countries to assess their offshore wind potential and is ready to help support the success of additional emerging offshore wind markets.