Norwegian energy giant opens rep office in Hanoi

An illustration of Equinor's Hywind Tampen project, which will be the world’s first floating wind farm to power offshore oil and gas platforms. Photo courtesy of the company.
Norway's largest energy company Equinor on Thursday established its representative office in Hanoi, seeking to partner with Petrovietnam to develop wind power projects across the country.
The move marked "an important milestone" in the Norway-Vietnam business cooperation portfolio, the Norwegian Embassy in Hanoi stated in a release.
Equinor’s Senior Vice President, Jens Olaf Økland, said Vietnam is one of the world’s fastest-growing economies and power markets.
"With its long coastline and favorable wind conditions, the country has among the best wind resources in Asia and a strong desire to develop an offshore wind market. We believe Vietnam has high potential to become an interesting growth market for offshore wind."
By establishing a local presence in Vietnam, Equinor also wants to collaborate with its Vietnamese partner, Petrovietnam, to "build a strong local supply chain for the offshore wind industry, generate power at lower costs, gradually make renewable energy affordable for all, and assist Vietnam’s green transition agenda."
Pham Tien Dung, Vice President of Petrovietnam, said Equinor and Petrovietnam are both state-owned oi and gas corporations that seek to transform into energy companies. “To us, Equinor is the main and important partner in the renewable energy portfolio, particularly offshore wind."
Together with Petrovietnam, Equinor has applied to develop projects in five provinces in Vietnam, namely Ba Ria-Vung Tau, Binh Thuan, Ninh Thuan, Hai Phong and Thai Binh.

Logo of Equinor, Norway's state-run oil and gas company. Photo courtesy of the company.
With over 3,000 kilometers of coastlines, Vietnam has an abundant offshore wind resource and is an emerging market for offshore wind. According to the World Bank, offshore wind has the potential to supply 12% of Vietnam’s electricity by 2035.
By gradually replacing coal-fired production, nearly 200 million metric tons of CO2 emissions might be avoided, while adding at least $50 billion to Vietnam's economy. It will also bring in additional long-term international climate financing and investments to the country, the bank noted.
Equinor is currently a leader in energy transition, having presence in 33 countries. Aside from being the world pioneer in floating offshore wind, the heavyweight has many major bottom fixed projects globally, including 3.3-gigawatt (GW) offshore wind in the U.S, 3.6 GW in the UK, and large projects in Poland.
The Norwegian Embassy said the move also reaffirms Norway's willingness to contribute to the growth of Vietnam's offshore wind industry, and the country's green transition process as per its commitments in the Paris Agreement and COP26.
The country aims to retain its leadership in climate finance and other support to developing countries. Norway's climate finance will be doubled by 2026, with a plan to allocate $1 billion (NOK10 billion) over five years to a new climate fund managed by Norfund, the Norwegian Fund for Developing Countries.
- Read More
Japan seeks to implement 15 energy projects worth over $20 bln in Vietnam
Japan wants to execute 15 projects worth over $20 billion in Vietnam's energy transition field, said Prime Minister Ishiba Shigeru.
Economy - Mon, April 28, 2025 | 11:07 pm GMT+7
Malaysia highlights roles of ASEAN, BRICS in regional cooperation
Malaysian Foreign Minister Mohamad Hasan is scheduled to deliver a speech at a dedicated session themed “The Role of the Global South in Reinforcing Multilateralism,” held as part of the BRICS Ministers of Foreign Affairs Meeting in Rio de Janeiro, Brazil, from April 28-29.
Southeast Asia - Mon, April 28, 2025 | 10:10 pm GMT+7
Singapore negotiates for US concessions on pharmaceuticals, chips
Singapore is negotiating concessions for pharmaceutical exports to the U.S. while ensuring it still has access to high-end AI chips from the American market, said Singaporean Trade and Deputy Prime Minister Gan Kim Yong.
Southeast Asia - Mon, April 28, 2025 | 10:03 pm GMT+7
Vietnam’s leading IP builder Idico applies for major bourse listing, targets $100 mln pre-tax profit
Idico Corporation, a major industrial park developer in Vietnam, has applied for listing its shares on the Ho Chi Minh Stock Exchange (HoSE) and kept its 2025 business plan unchanged with a pre-tax profit target of VND2.6 trillion ($100 million).
Companies - Mon, April 28, 2025 | 9:53 pm GMT+7
Property giant Sun Group commences work on $1.35 bln spiritual tourism complex in central Vietnam
Sun Group, Vietnam's leading real estate developer, on Saturday broke ground on its Am Tien spiritual and historical tourism complex project in the central province of Thanh Hoa.
Real Estate - Mon, April 28, 2025 | 9:30 pm GMT+7
Vietnam's SHB bank records 'fastest growth in customer satisfaction' for 2 straight years
In the Bank Satisfaction Rankings 2025, Saigon-Hanoi Bank (SHB) not only makes it to the top 10 but also stands out as the bank with fastest growth in customer satisfaction for two consecutive years.
Companies - Mon, April 28, 2025 | 4:19 pm GMT+7
India's KCP Limited to inject extra $60 mln into sugar, biomass power plants in south-central Vietnam
Indian-invested KCP Vietnam Industries Limited has proposed raising the capacity of its Son Hoa sugar plant to 15,000 tons of sugarcane per day and deploying the 45 MW second phase of its 75 MW KCP Phu Yen biomass power plant, both in Phu Yen province.
Industries - Mon, April 28, 2025 | 3:35 pm GMT+7
Central Vietnam hub Danang eyes country's 'first urban complex on the sea'
The central city of Danang is studying an urban complex project on Da Nang Bay, with five floating islands - home to an international service, commercial and financial center complex.
Real Estate - Mon, April 28, 2025 | 1:49 pm GMT+7
Private equity firm Creador acquires 13% of Vietnam’s Long Chau pharmacy chain
Creador Sdn. Bhd., a private equity firm headquartered in Malaysia, has acquired a 13% stake in FPT Long Chau Investment JSC, one of Vietnam’s largest pharmacy chains and a subsidiary of retail major FPT Retail.
Companies - Mon, April 28, 2025 | 12:00 pm GMT+7
Major Vietnamese contractor Hoa Binh to raise $133 mln for bank, supplier payments
Hoa Binh Construction Group, one of Vietnam's top contractors, plans a private placement for up to 347 million shares, with an estimated total value of VND3.47 trillion ($133.4 million).
Companies - Mon, April 28, 2025 | 11:51 am GMT+7
Chocolate Alluvia celebrates Vietnam's Reunification Day with 4 HCMC stores to watch the parade
Xuan Ron Cho Gao Cocoa Co., Ltd., the maker of Alluvia Chocolate from Tien Giang province, is joining the celebration of Vietnam’s Reunification Day - April 30, with four stores favorably positioned around Nguyen Hue and Le Loi walking streets in District 1, Ho Chi Minh City.
Travel - Mon, April 28, 2025 | 8:57 am GMT+7
Two Vietnamese banks to list on stock exchanges in 2025
Vietnamese private lenders VietABank and KienlongBank are set to move their shares from the unlisted public companies market UPCoM to the Ho Chi Minh City or Hanoi stock exchanges in 2025.
Banking - Mon, April 28, 2025 | 8:24 am GMT+7
AI to reshape Malaysia’s economic landscape: expert
Artificial intelligence (AI) is set to significantly reshape Malaysia’s economic landscape, presenting not only challenges but also groundbreaking opportunities for growth, job creation, and innovation, according to an expert.
Southeast Asia - Sun, April 27, 2025 | 5:35 pm GMT+7
Vietnam's retail giant Mobile World to keep growing even if market stagnates: chairman
Mobile World Investment Corporation (MWG), a leading retailer in Vietnam, will continue to grow even if the market stagnates or retreats, said chairman Nguyen Duc Tai.
Companies - Sun, April 27, 2025 | 5:24 pm GMT+7
Japanese PM Ishiba arrives in Hanoi, beginning three-day visit
Japanese Prime Minister Ishiba Shigeru and his spouse, together with a high-level Japanese delegation, arrived in Vietnam on Sunday for a three-day official visit from April 27 to 29.
Economy - Sun, April 27, 2025 | 3:58 pm GMT+7
Thailand plans to inject $15 bln into economy
Thailand's Ministry of Finance aims to inject over THB500 billion ($15 billion) into the economy to boost the country's GDP growth by over 1.8%, focusing on stimulating consumption, investment, and providing soft loans.
Southeast Asia - Sun, April 27, 2025 | 1:54 pm GMT+7