Blog

Vietnam needs a comprehensive policy framework to remove legal and procedural bottlenecks and create conditions for offshore wind power projects to access long-term investment capital, helping to unlock the country’s substantial offshore wind potential, said insiders.

With a coastline of more than 3,260 km, an exclusive economic zone of nearly 1 million sq.km and favourable, stable wind conditions, Vietnam boasts significant offshore wind resources.

The World Bank estimates the country’s technical potential at about 600 GW, while a recent study by the Vietnam Meteorological and Hydrological Administration under the Ministry of Agriculture and Environment, in cooperation with the United Nations Development Programme (UNDP), puts the figure at 1,068 GW.

Despite this potential, the sector continues to face significant regulatory hurdles.

Dr Nguyen Hung Dung, Vice Chairman and Secretary General of the Vietnam Petroleum Association, identified an incomplete and inconsistent legal framework as a key obstacle, noting that energy projects are governed by multiple laws covering electricity, investment, land, environmental protection, and marine resources, as well as other guiding decrees.

Decree No. 272/2026/ND-CP, issued by the Government on July 4, 2026, provides regulations on offshore wind surveys and development. However, several critical issues, including electricity prices, power purchase agreements (PPAs), risk-sharing arrangements and payment guarantees, remain unclear. These are among the factors considered by international lenders when assessing project financing, Dung said.

Sharing Dung’s views, National Assembly Deputy Nguyen Hai Nam said inconsistencies between the power development plan, marine spatial planning and related plans mean that although offshore wind power has been identified as a development priority, there is still insufficient basis for projects to be implemented in practice.

Regulations governing the allocation and leasing of marine areas for surveys, research and construction remain incomplete, he said, adding that questions surrounding long-term electricity prices, investor selection and the authority to approve investment policies also need to be clarified.

With projects requiring billions of US dollars, lengthy preparations, costly surveys and coordination among multiple agencies, Nam called for a unified framework covering development areas, survey procedures, marine-area allocation, investor selection and approval authority.

He also proposed a stable and competitive electricity pricing mechanism incorporating risk-sharing provisions, which, he said, would help investors mobilise long-term financing.

Dr Du Van Toan from the Institute of Meteorology, Hydrology, Environment and Marine Sciences under the Ministry of Agriculture and Environment said offshore wind could serve purposes beyond grid-connected power generation, including producing green hydrogen through water electrolysis. The hydrogen could subsequently be used to make green ammonia and other clean fuels for export.

He noted that countries with strong offshore wind potential, including the Netherlands, Denmark, the UK, Australia and several Middle Eastern countries, are exploring and developing these applications.

Toan said the forthcoming revision of the Electricity Law should establish not only a comprehensive legal framework for offshore wind but also an institutional foundation for the broader offshore energy industry.

He warned that missing this opportunity could have implications beyond the development of offshore wind, potentially limiting Vietnam’s participation in rapidly expanding global value chains for green hydrogen, green ammonia and other emerging energy sectors.

Vietnam has the abundant natural resources, including beaches, forests, mineral springs, mineral mud and a wide range of medicinal plants, backed by a long-lasting traditional medicine and the cultural identity of its ethnic communities. Together, they form the base for wellness tourism products that are both competitive and distinctly Vietnamese.

Hanoi (VNA) – Vietnam is rolling out a national scheme to build a professional health and wellness tourism industry by 2030, betting that distinctive products, better service quality and stronger value chains can turn the sector into one of tourism's highest-value segments.

Chasing a higher-value tourism segment

Demand for health and wellness travel has surged in recent years, tracking a broader push for better quality of life and physical and mental balance.

This isn't just a passing trend. It's becoming a high-value segment that extends visitor stays, lifts spending and pulls related industries along with it", said Deputy Director General of the Vietnam National Authority of Tourism Ha Van Sieu.

Vietnam has the abundant natural resources, including beaches, forests, mineral springs, mineral mud and a wide range of medicinal plants, backed by a long-lasting traditional medicine and the cultural identity of its ethnic communities. Together, they form the base for wellness tourism products that are both competitive and distinctly Vietnamese.

In fact, that potential hasn't translated into products or economic value. Products remain fragmented in many places, with models limited to standalone resorts, spas or one-off services.

Links among medical tourism, traditional medicine, medicinal plants, culture, sports, nutrition, and science and technology remain weak. Specialised workers are scarce, and regulatory standards, quality management systems and coordination among sectors and localities all need to be improved.

Dr. Nguyen Anh Tuan, Director of the Institute for Tourism Development Research, said Vietnam is emerging as a branded destination for health and wellness tourism, with plenty of room to grow.

Wellness tourism models are already expanding fast. Hotels and resorts in mountain and coastal areas have folded in wellness services and drawn large crowds, while regions with hot mineral springs have built premium resort and wellness offerings, generating returns for investors and revenue for local budgets alike.

Building seamless, quality tourist experiences

The scheme aims for more than new tourism products. It's designed to build an economic ecosystem around tourism and wellness services.

Building that ecosystem will require the tourism sector to assess where things stand, clear key bottlenecks and define the core elements of wellness tourism products. The bigger task is treating the segment as a value chain linking tourism with healthcare, sports, culture, agriculture, medicinal plants, science-technology, indigenous knowledge, businesses and local communities.

Tuan proposed a framework built around one ecosystem, three product tiers and six policy pillars.

The three tiers include pure wellness tourism, wellness services involving specialised medical expertise, and medical tourism. Tiering lets regulators apply oversight based on risk level, protecting safety without burdening companies with unnecessary red tape.

The six pillars comprise institutional mechanisms and standards; resources and destinations; products and value chains; investment, businesses and communities; workforce and science-technology; and markets, branding and data.

On medical tourism's potential across Southeast Asia, Tuan said Vietnam's existing advantages leave it well placed to compete and, if leveraged properly, to go head-to-head with countries that already run mature medical tourism industries.

Traditional Eastern medicine is another edge. Pairing resorts and wellness services with herbal treatments rooted in Eastern medicine holds considerable promise, he said.

Customers respond well and will pay reasonable prices for attentive services that match what they spend, Tuan said. But he added that clearer, more specific policies are still needed to develop the sector systematically.

Vietnam's shrimp exports reached US$3.3 billion in the first eight months of 2026, up 12% year-on-year, with the Chinese market being a key growth driver.

White-leg shrimp were the top product, with exports exceeding $2 billion during the period, up 7.6%, according to customs data cited by the Vietnam Association of Seafood Exporters and Producers.

Black tiger shrimp shipments rose 7.4% to nearly $318 million while other shrimp products generated $936.6 million, a 25% increase.

The association said that mainland China and Hong Kong remained the standout markets for Vietnamese shrimp.

Shipments to both markets totaled nearly $1.12 billion, up 35.9% year-on-year and accounting for 34.1% of total shrimp exports in the first eight months.

Of this, China accounted for more than $1.07 billion, a 38.2% jump, making it the main growth driver as exports to several other major markets faced difficulties.

Exports to the U.S. fell 11.7% year-on-year to $436.1 million while those bound for the EU totaled $355.3 million, down 3.6%.

Shipments to Japan grew 6.1% to $388.5 million and those to Australia and Canada increased by 18.2% and 6.5%, respectively. Exports to Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) member countries reached around $901 million, up 11%.

In August alone, shrimp exports were worth $478.5 million, up 4.2% from a year ago. Shipments to the U.S. and EU dropped 12.6% and 23.5% year-on-year, respectively, during the month.

The association said the figures highlight increasingly divergent trends across export markets, with Asia continuing to post healthy demand while the U.S. and EU remain affected by competition and trade-related factors.