Opportunities in Vietnam's Offshore Wind Power Value Chain

Key pointsVietnam's offshore wind power is gaining attention as a key industry contributing to economic growth. Vu Binh Tan from the International Wind Energy Association emphasized that offshore wind power not only supports electricity supply but also promotes the development of related industries and services. Vietnam aims for approximately 17GW of offshore wind power by 2035, which will expand the market size and increase investment opportunities. A stable market environment and clear growth strategies are needed.
Business impactJapanese companies need to closely monitor Vietnam's policies and market trends when considering investments in offshore wind power projects and related services. Particularly, building a stable supply chain is crucial.

Key pointsOn September 29, 2026, EHang and Joby Aviation made significant moves regarding the testing of electric vertical takeoff and landing (eVTOL) aircraft in Vietnam. EHang signed a memorandum to test its unmanned electric vehicle EH216-S in Hanoi, with preparations starting in October 2026. Meanwhile, Joby Aviation is considering establishing a production facility in Da Nang. Both companies view Vietnam as a new market and are exploring commercial models for intercity transport and tourism, potentially positioning Vietnam as a hub for a new aviation industry.
Business impactFor Japanese companies, the introduction of eVTOL presents new business opportunities. Particularly in logistics and tourism, leveraging these technologies is expected to enhance competitiveness. Attention to future developments and strategic considerations in related sectors is essential.

Key pointsQuang Ninh Province has announced a 90-day acceleration campaign aimed at increasing its GRDP growth rate to over 13% by 2026. The campaign targets tax revenue exceeding 100 trillion VND and aims for a 100% execution rate of public investments. Over the past nine months, the GRDP growth rate reached 12.54%, marking the highest growth in the country. The province expects to establish more than 3,000 new companies, bringing the total number of enterprises to approximately 15,200. Additionally, it aims to raise the urbanization rate to over 75%.
Business impactThis initiative may create new business opportunities for Japanese companies. In particular, the increase in public investment and the establishment of new enterprises are likely to stimulate demand in related industries, leading to business expansion. Companies will need to reassess their business plans in alignment with Quang Ninh Province's growth strategy.

Key pointsAs the strategic competition between the US and China continues, Vietnam needs to leverage its geographical position to integrate more with the economic systems of both countries. On October 1, 2026, the Vietnam Chamber of Commerce and Industry (VCCI) held a seminar in Ho Chi Minh City themed "The US Market in 2026: Opportunities, Challenges, and Innovative Solutions for Vietnamese Enterprises," where former Deputy Foreign Minister Dang Dinh Quy discussed new opportunities in economic relations with the US. The long-term economic competition between the US and China may present new chances for Vietnam.
Business impactJapanese companies should strengthen their access to the US market and reassess their business strategies leveraging Vietnam's geographical advantages, particularly to avoid missing trade and investment opportunities.

Key pointsA factory producing fake soup powder was raided in Hanoi. The seller frequently changed contact information and used online platforms to sell food products. Monitoring revealed that industrial machinery was being used to produce large quantities of counterfeit products. Additionally, 260 tons of expired chicken feet were discovered, leading to legal action against the involved companies.
Business impactThis incident highlights the need for stricter regulations in the food industry. Japanese companies must ensure supply chain transparency and reassess the reliability of their business partners.

Key pointsVietnam has entered a new stage of development aiming for high growth, recognizing that traditional resources alone are insufficient. It is necessary to establish transparent systems and eliminate procedural barriers to incorporate new resources such as science and technology, data, and high-quality human resources into production. This is expected to build a foundation for sustainable growth.
Business impactJapanese companies need to understand local systems and market trends to leverage Vietnam's new growth resources and develop appropriate strategies, with a particular focus on technological innovation and human resource development.

Key pointsOn September 28, 2026, the Finance Department of Can Tho City instructed lottery companies to refrain from conducting overseas training that does not benefit their operations. This decision comes in response to previous instances where significant funds were spent on overseas training, and the focus will now shift to domestic training. The aim is to reduce unnecessary expenditures and improve operational efficiency.
Business impactJapanese companies need to reassess their cost management related to training and education. Specifically, they are required to reevaluate the necessity of overseas training and develop plans that consider cost-effectiveness.

Key pointsVietnam has launched a project to manufacture 500kV horizontal compensation coils for the national power grid, contributing to enhanced energy security and reduced import dependency. The project is led by Eastern Electric Equipment Manufacturing Corporation (EEMC) with support from the Ministry of Science and Technology. The goal is to produce coils that comply with international standard IEC 60076, specifically 120 MVAr/500 kV, improving the stability and efficiency of the power grid.
Business impactThis project promotes self-sufficiency in Vietnam's power equipment and presents new business opportunities for Japanese companies. In particular, companies providing power-related technologies and products will need to reassess their strategies in anticipation of increased demand.

Key pointsViettel IDC was the only company listed among the 57 sovereign cloud service providers announced by Broadcom at VMware Explore 2026 in Las Vegas. This strengthens Viettel IDC's position in the cloud infrastructure market in Southeast Asia.
Business impactJapanese companies should closely monitor Viettel IDC's developments and consider collaboration with the company for cloud service implementation and digital transformation.

Key pointsThe Vietnamese government has decided to relax the Economic Needs Test (ENT) requirements for foreign retailers. This will facilitate the opening of new stores by Japanese brands such as Aeon, FamilyMart, FujiMart, and Uniqlo. The new regulations will take effect on October 18, 2026, and will particularly benefit Japanese companies as they will enjoy advantages as CPTPP member states. Aeon aims to open 300 stores by February 2031, and the exemption from the ENT is expected to significantly shorten the time required for store openings.
Business impactJapanese companies should closely monitor this development and assess its impact on related transactions, contracts, and local operations.

Key pointsVietnam's stock market has been upgraded to an emerging market by FTSE Russell, attracting major US financial firms such as Vanguard, BlackRock, and JPMorgan. This is expected to lead to increased capital inflow into the Vietnamese market, particularly from foreign investors. The Vietnamese market may become an attractive investment destination for international investors in the future.
Business impactJapanese companies should closely monitor this trend and assess its impact on related transactions, contracts, and local operations.

Key pointsHo Chi Minh City Mayor Nguyen Van Duc has instructed to expedite the implementation of urban development laws. The development of underground spaces has been a challenge for over 20 years and includes the establishment of underground parking. The city plans to develop multifunctional underground spaces in conjunction with the subway.
Business impactThis initiative provides Japanese companies with opportunities in urban development and infrastructure investment, particularly in the construction and real estate sectors.