Vietnam has introduced new rules requiring police approval for foreign investments in the energy, construction, and telecommunications sectors. According to the Ministry of Public Security, the measures aim to ensure that economic development does not compromise national security.
The stricter requirements are expected to increase both approval times and costs for foreign investors. The police will also supervise foreign aid projects.
Regulatory challenges have already forced several foreign companies to reconsider their presence in Vietnam’s energy market. In 2023, Danish Ørsted paused its multi-gigawatt offshore wind plans in the country, while Norwegian Equinor decided in 2024 to withdraw completely and close its Hanoi office.
Vietnam currently has no installed offshore wind capacity but plans to develop 6 gigawatts by 2030 as part of its goal to achieve carbon neutrality by 2050.
Source: Oilprice.com
