Pause appraisal of offshore wind projects: ministry

By Tri Duc
Thu, October 6, 2022 | 10:34 am GMT+7

The Ministry of Natural Resources and Environment has proposed that the Prime Minister halts appraisal of offshore wind power projects until the government issues new regulations covering their implementation.

It argues that the pause is necessitated by legal and technical difficulties including a lack of rules on foreign institutions and individuals not being allowed to make wind measurements and geological and topographical surveys, as well as rules on management of such activities.

The ministry says it had received 55 applications to conduct surveys as of the end of August, including 19 from foreign investors and foreign economic entities. The total capacity of these projects is over 100 GW and the total sea area for surveys is about 30,000 square kilometers.

Trung Nam Group's 100-MW Dong Hai 1 wind power farm in Tra Vinh province, southern Vietnam was inaugurated on January 16, 2022. Photo courtesy of the group.

Trung Nam Group's 100-MW Dong Hai 1 wind power farm in Tra Vinh province, southern Vietnam was inaugurated on January 16, 2022. Photo courtesy of the group.

The ministry has so far approved the installation of a LiDAR wind measurement gauge for a $1.4 billion offshore wind power project in Ben Tre province. Mainstream Renewable Power and a Vietnamese partner installed the equipment late last month for a feasibility study.

The approval does not cover surveying and measuring the depth of the seabed, its characteristics, geological strata, boundaries of soil and rock layers, and oceanographic parameters.

The ministry has sent 19 other proposals to relevant ministries and localities, seeking advice and comments

In addition, there are at least 40 proposals subject to provincial authorities' approval as the projects are entirely domestic and located within sea areas of six nautical miles.

According to the Ministry of Industry and Trade’s latest draft power development plan, better known as PDP VIII, renewable energy, including wind and solar power, would account for 16.4-17.1% of the total generated and imported energy in Vietnam by 2025, and 40.1%-40.7% in 2045.

Comments (0)
  • Read More
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap

TCBS overtakes SSI to become Vietnam’s largest securities company by market cap

Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.

Finance - Tue, October 21, 2025 | 10:27 pm GMT+7

Indonesia’s palm oil industry becomes investment magnet

Indonesia’s palm oil industry becomes investment magnet

Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.

Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7

Indonesia reports strong job, investment growth

Indonesia reports strong job, investment growth

The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.

Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7

Singapore grants conditional approval for 1GW low-carbon power import from Malaysia

Singapore grants conditional approval for 1GW low-carbon power import from Malaysia

Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.

Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7

Margin lending in Vietnam’s stock market hits record, but not worrisome

Margin lending in Vietnam’s stock market hits record, but not worrisome

Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.

Finance - Tue, October 21, 2025 | 4:23 pm GMT+7

Lenders in Vietnam now in low-rate lending race: ACB exec

Lenders in Vietnam now in low-rate lending race: ACB exec

The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.

Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7

PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry

PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry

Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.

Companies - Tue, October 21, 2025 | 3:45 pm GMT+7

Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months

Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months

F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.

Companies - Tue, October 21, 2025 | 3:15 pm GMT+7

Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery

Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery

With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.

Economy - Tue, October 21, 2025 | 2:33 pm GMT+7

Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub

Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub

The 16.5-hectare Tan Cang-Moc Bai inland port in Tay Ninh province, southern Vietnam has been opened, offering logistics services and handling customs clearance for imports and exports.

Infrastructure - Tue, October 21, 2025 | 12:03 pm GMT+7

State-managed property trading centers will help curb speculation, price manipulation: expert

State-managed property trading centers will help curb speculation, price manipulation: expert

Establishment of state-managed real estate trading centers is expected to create a transparent transaction channel, helping control and limit speculation and price manipulation in the Vietnamese market.

Real Estate - Tue, October 21, 2025 | 8:37 am GMT+7

Vietnam's benchmark VN-Index records sharpest drop in 25-year history

Vietnam's benchmark VN-Index records sharpest drop in 25-year history

VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), saw the sharpest decline in its 25-year history on Monday, down by 94.76 points, or 5.47%, to 1,636.43.

Finance - Mon, October 20, 2025 | 5:49 pm GMT+7

Construction contractor Coteccons sets record FY2026 targets, capital base hike via share issue

Construction contractor Coteccons sets record FY2026 targets, capital base hike via share issue

Coteccons Construction JSC (HoSE: CTD), one of Vietnam’s largest construction contractors, has set ambitious targets for its fiscal year 2026, driven by a record order backlog and its push into international markets.

Companies - Mon, October 20, 2025 | 4:50 pm GMT+7

Real estate, gold markets to be fully established by 2026: Prime Minister

Real estate, gold markets to be fully established by 2026: Prime Minister

Vietnam plans to complete comprehensive legal framework for its financial, real estate, and gold markets by 2026 as part of a broader effort to modernize market infrastructure and accelerate economic growth, said Prime Minister Pham Minh Chinh.

Finance - Mon, October 20, 2025 | 3:33 pm GMT+7

Vietnam breaks ground on nation’s most advanced domed stadium in Hung Yen province

Vietnam breaks ground on nation’s most advanced domed stadium in Hung Yen province

Vietnam’s Ministry of Public Security has broken ground on a 60,000-seat domed stadium in the northern province of Hung Yen, set to become the country’s most technologically advanced sports venue.

Society - Mon, October 20, 2025 | 2:48 pm GMT+7

Workforce and logistics - keys to sustainable e-commerce growth in Vietnam: experts

Workforce and logistics - keys to sustainable e-commerce growth in Vietnam: experts

Businesses and online shop owners in Vietnam should pay greater attention to human resources and logistics, considering these factors “keys” to competitive advantage in the increasingly volatile e-commerce market, according to experts.

Economy - Mon, October 20, 2025 | 10:54 am GMT+7