Vietnam Infrastructure Spotlight March 2026

We are pleased to share the March 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 BLOGS

We are pleased to share our recent blog “Inside Infrastructure: Outlook for Infrastructure and Energy in 2026 (Part II)” which focuses on specific jurisdictions and market hotspots around the globe. Source: Freshfields website

MARKET UPDATES

Resolution 79 on State -owned enterprises (SOEs)

• On 5 January 2026, the Vietnam Politburo issued Resolution 79 NQ/TW, which reaffirms the leading role of SOEs and directs their development towards key strategic sectors, including energy, chemicals, strategic minerals, and logistics. These sectors are identified as critical to national economic security, competitiveness, and long-term development. On 30 April 2025, the Vietnam Politburo also issued Resolution 68-NQ/TW setting out a comprehensive roadmap to develop and elevate the role of the private sector in Vietnam’s economy. In this evolving dynamic, SOEs play a leading role in investment, innovation and the development of strategic infrastructure, thereby laying the foundation for the sustainable growth of the private sector. SOEs are encouraged to strengthen linkages with the FDI sector and private enterprises in order to drive economic growth of the country. Source: Vietnam News

Technology

• AI. G42, the Abu Dhabi-based technology group, and a consortium comprising FPT Corporation and Viet Thai Group, signed an agreement to invest up to $1 billion to develop AI capabilities and cloud infrastructure across Vietnam. Source: Vietnam Investment Review

Automotive

• Going green. Hanoi will replace all gasoline and diesel taxis with green-energy vehicles by 2030. The city People’s Committee issued a plan outlining phased transition and support policies for operators, with the specific targets being 63–64% in 2026 and 68–70% in 2027 before reaching 100% by 2030. Source: VN Express International
• Thaco’s move. Vietnamese conglomerate Thaco plans to produce and sell passenger cars under its own brand, a move that would make it the country’s second domestic car brand after VinFast. Source: The Investor

Oil & Gas

• Energy ties. Binh Son Refining and Petrochemical JSC (BSR) signed a memorandum of understanding with US companies, including Chevron Supply and Trading, Marquis Energy, and ADM Asia-Pacific Trading. The agreements cover crude oil supply for the Dung Quat Oil Refinery, potential imports of ethanol biofuel from the US, and the provision of corn as feedstock for ethanol production in Vietnam. Source: Vietnam Investment Review
• Expansion. BSR has commenced site clearance for the Dung Quat oil refinery expansion and upgrade project ($1.5 billion), which will lift processing capacity to 171,000 bpd, enable Euro V fuel production, diversify crude feedstocks, and strengthen supply security. Source: The Investor

LNG

• Entry. A consortium led by South Korean energy giant SK Innovation has been appointed to develop the Quynh Lap LNG Power Project in Nghe An province, securing one of Vietnam's largest foreign-invested energy ventures to date. Source: Vietnam Investment Review
• Exit. Japan Petroleum Exploration has withdrawn from a plan to construct an LNG terminal in northern Vietnam, citing difficulty in securing the venture's economic viability. Feasibility studies for the project began in early 2022. Source: Vietnam Investment Review
• Winning bid. Khanh Hoa authorities have approved the Trung Nam-Sideros River consortium as the winning bidder for the VND57.38 trillion ($2.2 billion) Ca Na LNG-fired power project in the central province. The consortium will develop a 1,500 MW LNG power plant in Ca Na commune, alongside an LNG import terminal with annual capacity of 1-1.2 million tons and related auxiliary facilities. Source: The Investor

Renewable Energy

• Wind power. Vingroup’s VinEnergo Energy has been selected as the investor for the Hon Trau wind power plant phase 1 project in Gia Lai, with a total investment exceeding $1.86 billion. The project will use nearly 50 hectares of land and sea area on a long-term basis, including more than 32 hectares of sea surface and around 17.6 hectares of land. An additional 13 hectares will be used temporarily for construction-related facilities such as access roads, equipment staging areas, and worker camps. Source: The Investor
• Wind power and VinEnergo again. VinEnergo has also proposed a major offshore wind power project in the southern province of Ca Mau, seeking approval to develop a 3,000MW facility aimed at exporting electricity. VinEnergo also outlined research plans and asked the local authorities for approval for a series of offshore wind projects, including Ganh Hao, Cai Doi Vam, Tan Tien, Tam Giang, and Tan An in Ca Mau province. Source: Tuoi Tre Newspaper
• Global strategy. VinEnergo announces its large-scale global expansion plan, initially focusing on Asia and Europe with a renewable energy project portfolio totalling 10 GW that has officially secured development agreements. In addition to the capacity already approved in Vietnam, over the next three years, VinEnergo will continue expanding its operations and increase its total deployed capacity to 100 GW. Source: Vietnam Investment Review
• Windy. Levanta Renewables, the pan-Southeast Asia renewable energy platform of Actis, has acquired an 80 per cent stake in a 50MW onshore wind project in Gia Lai province. The transaction marks Levanta’s first operating wind asset within its regional portfolio and represents its second investment in Vietnam. Source: Vietnam Investment Review

Power

• Nuclear. South Korea's Doosan Enerbility is keen to join nuclear power projects in Vietnam. The group wishes to gain further insight into Vietnam’s perspectives, roadmap, and policy framework for nuclear power development in the coming period, in order to determine an appropriate level of participation. Source: The Investor

Ports

• A gateway port. The Cai Mep Ha general and container port project was approved by Ho Chi Minh City People’s Committee, with total investment exceeding VND50.8 trillion (around $1.95 billion). Source: Vietnam Investment Review
• Leading crane. Ho Chi Minh City has called for a financially strong, globally capable “leading crane” investor to develop the Can Gio International Transshipment Port, a project worth $5.1 billion. The project is expected to create significant momentum for socio-economic development while safeguarding national defense, security and environmental requirements. Source: Vietnam Net