The World Bank Group has released a new report calling for targeted policy reforms to unlock private investment in Vietnam’s offshore wind sector, as the country seeks to scale up its renewable energy ambitions.
The report proposes a regulatory framework based on international best practices, designed to fit within Vietnam’s existing legal structure while creating more transparent and investor-friendly conditions.
“With some of the world’s most promising offshore wind resources, Vietnam is poised to harness this new technology,” said Chiara Rogate, senior energy specialist for Vietnam at the World Bank. “To establish Vietnam as a reliable, long-term investment destination… clear, transparent, and attractive policies and procedures are essential,” she added.
Vietnam’s Power Development Plan VIII outlines a target of 6–17 gigawatts (GW) of offshore wind by 2035, and as much as 139GW by 2050. Meeting these targets will require large-scale financing from both domestic and international public and private sources.
The report was developed with input from key Vietnamese ministries, including those responsible for industry, trade, agriculture, and the environment. It was supported by the Energy Sector Management Assistance Program (ESMAP), Australia’s Department of Foreign Affairs and Trade (DFAT), and the International Finance Corporation (IFC).
Reforms introduced in late 2024 and early 2025 have already begun to clarify the regulatory landscape for offshore wind development. However, the World Bank notes that additional steps are needed to address remaining barriers to investment.
“To realise its offshore wind potential… Vietnam will need a balanced approach that harnesses both state leadership and private sector innovation,” said Sean Whittaker, co-lead of the World Bank’s offshore wind development programme.
The report provides a set of detailed recommendations, including improving permitting processes, clarifying power purchase arrangements, and enhancing grid planning, all aimed at accelerating project delivery and attracting international capital.
