We are pleased to share the January 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.

Freshfields publication

We are pleased to share our recent blog “Shaping Asia’s Infrastructure: Rare Earth Elements in Vietnam - opportunities and challenges”. Boasting abundant resources and strong political determination, this blog explores Vietnam’s opportunity to become a strategic player in the global rare earth supply chain. Source: Freshfields website

Market updates

Natural Resources

• Vietnam rare earth strategy. At a high-level cabinet meeting on 17 January 2026, the government’s Standing Committee reviewed several critical agendas - including the national rare earth strategy. Focusing on the rare earth agenda, the Prime Minister stressed the urgent need to develop a robust rare earth industry as a pillar of national self-reliance. Source: Vietnam Net

Electricity

• Pricing autonomy. The Ministry of Industry and Trade (MoIT) has agreed to eliminate price bracket restrictions for Direct Power Purchase Agreement (DPPA) transactions via private grids, following a proposal by Becamex-VSIP. Source: The Investor

LNG

• Green light. Quang Tri province has approved a US$1.59 billion LNG-fired power scheme by Vietnam Electricity (EVN) to boost local energy capacity. The Quang Trach III LNG-fired power plant, with a planned capacity of 1,500MW, will cost about VND41.83 trillion (US$1.59 billion). EVN will provide 20 per cent of the funding through equity, while Vietcombank will arrange loans for the remaining 80 per cent. Source: Vietnam Investment Review
• Red flag. Authorities in Thanh Hoa province are seeking answers after a flagship LNG-to-power project worth VND57 trillion (US$2.17 billion) failed to attract an investor. The Nghi Son LNG power project is listed as a priority investment under the adjusted PDP VIII, with completion targeted for the 2025-2030 period. Source: The Investor
• New signal. Vietnam plans to adjust its rules on the government's guaranteed purchase of power from LNG-fired plants, as it seeks to attract interest from developers. The MoIT has announced that it is drafting a new decree which would raise the guaranteed offtake volume from LNG power plants to at least 75% from 65%, while extending the guaranteed period to fifteen years from ten. Source: Energy Connects

Oil & Gas

• Discovery. The US-based Murphy Oil Corporation has announced that its subsidiary has drilled an appraisal well at the Hai Su Vang-2X (HSV-2X) field in the Cuu Long Basin, located approximately 64 km off the coast of Vietnam. Source: Vietnam Investment Review
• Rollout. Vietnam will officially switch to biofuel gasoline E5 and E10 from 1 June 2026, under a long-prepared roadmap led by the government and relevant ministries. The shift is expected to deliver significant environmental benefits. Source: Hanoi Times

Aviation

• New arrival. A new carrier, Crystal Bay Airlines, has joined Vietnam’s aviation market with a charter capital of VND300 billion (US$11.4 million). Crystal Bay Tourism Group primarily operates in the fields of tourism, travel, resorts and tourism real estate investment. Source: VN Express International

Road

• U-turn. Vingroup has pulled out of its bid to build the North-South high-speed railway, allowing the group to focus its resources on other key infrastructure projects. The proposal to invest in the North-South high-speed railway was put forward in May 2025 by VinSpeed, a Vingroup subsidiary. Source: Vietnam Investment Review

Manufacturing

• Shifting fast. Honda Motor has unveiled a new electric motorcycle in Vietnam, the world's fourth-largest motorcycle market, ahead of the introduction of stricter environmental regulations. The Japanese automaker has an 80 percent share of the Vietnamese motorbike market. Source: NHK World Japan

Real Estate

• Data Centre. Vietnam, particularly Ho Chi Minh City, is emerging as a new destination for billion-dollar capital flows into data centre real estate, driven by rapid AI adoption and a growing push for digital infrastructure. Source: Vietnam News
• Vietnam's 'Silicon Valley'. Vietnamese tech giant FPT Corporation broke ground on a large-scale digital technology park in Hanoi. Construction is scheduled to run from 2026 to 2031, with the first components expected to become operational in 2027. Source: The Investor
• Subject to review. Vietnam’s Government Inspectorate has recommended that authorities in the south-central province of Khanh Hoa revoke 305 land-use right certificates, or red books, issued to an investor linked to realty giant Novaland for a resort project, citing widespread violations in land use, planning, and project implementation. Source: The Investor

Ports

• Can Gio port. Saigon Port JSC plans to contribute capital for 15% ownership in a consortium registering to develop the Can Gio International Transshipment Port project in Ho Chi Minh City. The consortium also includes Saigon Port's parent Vietnam Maritime Corporation and Terminal Investment Ltd. under the Switzerland-headquartered Mediterranean Shipping Co. Source: The Investor