We’re pleased to share the June edition of our Vietnam Infrastructure Spotlight newsletter. In this issue, we highlight recent legal and market developments in Vietnam's infrastructure sector.

Whether you're actively exploring new opportunities or simply keeping a close eye on market trends, we hope you find these insights both timely and valuable.

LEGAL UPDATES

• Mergers of Vietnam's Cities and Provinces. On the morning of 12 June, Vietnam’s National Assembly approved an ambitious administrative reform plan that will reduce the number of provinces and cities from 63 to 34. The consolidation of provinces and the elimination of district-level governance aim to reduce administrative layers and improve efficiency. The newly approved administrative map of Vietnam now includes 28 provinces and 6 centrally governed cities. You can find the updated map at Vietnam Net
• Vietnam’s Support for LNG-to-Power Projects. The Ministry of Industry and Trade issued Decision 1509, approving a scheme for implementing the adjusted National Power Development Plan VIII. According to the adjusted PDP VIII, Vietnam is projected to have 22,524 MW of installed LNG power capacity by 2030. To support LNG power development, Vietnam has reduced import duties on LNG from 5% to 2%. The country will guarantee an offtake of at least 65% of the annual electricity output from projects using imported LNG for up to 10 years. Source: The Investor
• Vietnam Law on Geology and Minerals to Take Effect on 1 July 2025. The Law on Geology and Minerals is expected to provide a comprehensive legal framework, enhance the efficiency of state management over mineral resources, and promote geological surveys and development of the mining industry. Source: Vietnam Plus
• Vietnam’s National Action Programme for Cloud Computing. Vietnam aims to attract both domestic and foreign investment to develop large-scale, modern, high-performance computing infrastructure and international-standard data centres that are safe, sustainable, and environmentally friendly. Source: Vietnam Investment Review

MARKET UPDATES

Internet and Technology

• Qualcomm to launch AI R&D center in Vietnam. Qualcomm launched an AI research & development center in Vietnam, after acquiring a 65% stake in AI company MovianAI from Vingroup. Source: The Investor
• Viettel and Korea Telecom’ Strategic Partnership. Viettel and Korea Telecom signed a deal on 26 May to accelerate AI transformation, enhancing Vietnam's technological competitiveness in the region. Source: Vietnam Investment Review

Energy

• EDF’s Proposal to Invest in Nuclear Power in Vietnam. During a meeting with Vietnam Prime Minister on 11 June, EDF Chairman and CEO expressed the company’s desire to collaborate with Vietnamese partners in nuclear power, renewable energy, and other sectors. Source: Government News
• O Mon 2 CCGT Out to Banks. A Marubeni-led team was sounding out banks and ECAs to raise approximately $800 million of debt for the 1,050MW O Mon 2 combined cycle gas turbine (CCGT) plant in Vietnam. Source: TXF News
• Bidding Process Underway for Ca Na LNG-fuelled Power Project. Companies will submit bids for the Ca Na LNG-to-power project in south-central Vietnam's Ninh Thuan province until 30 June 2025. Source: The Investor
• SK Group’s $10 Billion LNG Investment Proposal in Vietnam. South Korea’s SK Group has proposed over $10 billion in power infrastructure projects across Vietnam, aiming to transform the country into a regional energy and logistics powerhouse. The group is exploring the development of three special energy-industrial clusters (SEICs), the core being LNG SK aims to roll out a comprehensive energy solution package across Vietnam. Source: Vietnam Investment Review
• EPC Contract Signed for O Mon IV Thermal Power Project. A consortium of South Korea's Doosan Enerbility and Vietnam's Power Engineering Consulting JSC 2 (PECC2) has been selected as the EPC contractor for this project via international open bidding. The Block B-O Mon power-gas project chain includes component projects: offshore gas exploitation at Block B, Block B-O Mon gas pipeline, and a thermal power plant cluster in the southern city of Can Tho. Source: The Investor
• HDF Energy and EVNSPC’s MOU to Boost Green Hydrogen Power in Vietnam. Under the MoU, HDF Energy and Southern Power Corporation (EVNSPC) will collaborate on technical and feasibility studies, identify potential project sites, coordinate with local authorities and align investment and engineering resources. Source: Vietnam News
• Hundreds of wind, solar power investors’ petition Vietnam authorities to uphold feed-in tariffs. Investors and financial institutions related to 173 wind and solar power projects in Vietnam have called on the government to maintain the feed-in tariffs (FIT) and commercial operation dates (COD) previously recognized. Source: The Investor

Oil & Gas

• Vietnam’s Call for Acceleration of the Blue Whale Project. Vietnam has called on Exxon Mobil to accelerate the delayed Blue Whale gas field project in accordance with contractual commitments. The project, originally slated to begin operations in 2023, has seen minimal progress, with the timeline now pushed to 2028. This delay is affecting the approval and implementation of downstream gas-fired power projects. Source: The Investor
• US's Excelerate Energy’s intention to turn Vietnam into LNG hub for ASEAN. The US LNG company aims to establish a joint venture with Vietnamese partners to expand its market, turning Vietnam into an LNG distribution centre of ASEAN. Source: The Investor

Transport

• Jardine Matheson’s Continued Investment in THACO. British conglomerate Jardine Matheson has expressed a willingness to serve as a key financial investor if THACO’s proposed north–south high-speed railway project is approved. Source: Vietnam News
• VinSpeed’s Proposal of US$61 Billion Investment in North-South High-speed Railway. VinSpeed JSC has officially registered to invest in the country’s north–south high-speed railway project, proposing a total investment of US$61.35 billion and pledging to begin construction before December, with full operations expected by December 2030. Source: Vietnam News
• Lalamove’s Strategic Expansion into Ride-Hailing. Lalamove has officially entered the ride-hailing market in Vietnam with motorcycle, 4-seater, and 7-seater car options now available in Ho Chi Minh City. The Vietnamese ride-hailing market is currently dominated by players like Grab, Be, and Xanh SM, along with traditional taxi operators. Source: Vietnam Investment Review

Aviation

• Airbus and Safran Exploring Vietnam Expansion Opportunities. Leaders of both companies expressed with the Vietnam Prime Minister their strong interest in expanding their operations in Vietnam and proposed collaboration initiatives with the Vietnamese government and local businesses. Source: Vietnam News
• Sun PhuQuoc Airways to Receive Air Transport License. Sun PhuQuoc Airways, a subsidiary of resorts and theme parks developer Sun Group, has received the license to set up Vietnam’s next carrier with the same name. Source: VnExpress International

Port

• Can Gio Port Added to Vietnam’s Seaport Development Plan. The Can Gio International Transshipment Port project in Ho Chi Minh City has advanced with its official inclusion in Vietnam’s national seaport development plan. Previously, the Prime Minister approved the project’s investment policy, which requires a minimum investment of VND50 trillion (US$1.95 billion) and grants a 50-year operational term. Source: The Investor
• CMA CGM and Saigon Newport to Develop a US$600 million Deep-Water Terminal in Hai Phong. CMA CGM and Saigon Newport Corporation have signed a partnership agreement to jointly develop a new deep-water container terminal in Hai Phong. The project, located at Lach Huyen terminals 7 and 8, will have a combined capacity of 1.9 million TEU and is scheduled to open in 2028. Source: Vietnam Investment Review
• Da Nang City Calling of Investment in a US$209 million LNG, LPG Terminal Project. Da Nang City is seeking investment for a US$209 million LNG and LPG terminal project located in the Lien Chieu port area. The project aims to develop critical infrastructure for the storage and distribution of LNG and liquefied petroleum gas (LPG), supporting both regional and national energy supply chains. It also aligns with Vietnam’s broader strategy to enhance specialized logistics systems and energy security. Source: The Investor

Mining

• LS Eco Energy’s Rare Earth Investment Plan in Vietnam. LS Eco Energy, a subsidiary of South Korea’s LS Cable & System, is pursuing investment in high-potential rare earth mines in Vietnam. The move follows legal complications involving its former local partner and reflects the company’s continued interest in establishing a stable supply chain for critical minerals. Source: The Investor
• Vietnam’s Rising Profile in the Global Rare Earth Market. Amid global supply chain disruptions, Vietnam has emerged as a focus for international investors in rare earths. With substantial reserves and growing export volumes, the country is actively attracting foreign investment to modernize its mining and processing capabilities. Source: Vietnam.vn