Infrastructure & PPPs in Vietnam - Q3 2026 Update
VIETNAM is accelerating its large-scale infrastructure, renewable energy, and digital development through a combination of public investment, multilateral financing, and Public-Private Partnership (PPP) models to support its goal of reaching high-income economy status by 2045. Transport and urban infrastructure remain a primary focus, driven by a broader USD 1.5 Trn investment programme over the next decade. The country is also advancing its clean energy transition and green mobility through a newly established offshore wind legal framework and nationwide EV charging network expansions, reinforcing its focus on sustainable infrastructure, energy security, and long-term economic competitiveness.
Read the latest developments in Infrastructure and PPPs in Vietnam in our Q3 2026 insight.
JULY 2026
BYD AND FUTA GROUP TO ACCELERATE GREEN MOBILITY ECOSYSTEM IN VIETNAM
Build Your Dreams (BYD) Auto Vietnam and FUTA EV Power, the electric vehicle charging infrastructure subsidiary of Phương Trang (FUTA Group), have signed a strategic cooperation agreement to accelerate the development of Vietnam’s green mobility ecosystem. The partnership aims to expand electric vehicle (EV) charging infrastructure, improve charging accessibility and support the country’s transition to low-emission transportation.
The two companies will collaborate on battery technologies, energy storage systems and public charging infrastructure while enabling interoperability between their charging networks. BYD customers will gain access to FUTA/Kim Long charging stations in addition to BYD’s existing dealer-based charging network, improving charging availability for long-distance and high-frequency users. Initial infrastructure development will focus on Ho Chi Minh City before expanding nationwide.
The partnership combines BYD’s expertise in electric vehicles, battery technology and electrification solutions with FUTA Group’s nationwide transportation ecosystem, which includes passenger transport, urban buses, logistics services, bus terminals and roadside facilities. By integrating vehicle technology with charging infrastructure, the collaboration aims to strengthen Vietnam’s EV ecosystem, support the country’s green transport objectives and accelerate the adoption of electric mobility through shared, open charging infrastructure.
GRAB TO EXPAND EV CHARGING NETWORK IN VIETNAM TO OVER 6,000 PORTS BY 2028
Grab Vietnam plans to expand its electric vehicle (EV) charging network from around 400 charging ports to more than 6,000 ports by 2028, with nearly half of the new charging infrastructure to be installed in Hanoi.
The expansion follows a cooperation agreement signed between Grab Vietnam and the Hanoi People’s Committee in Q2 2026 to support green transport, digital transformation and smart tourism. The initiative aligns with Hanoi’s roadmap to restrict fossil fuel-powered motorcycles, with only motorcycles meeting Euro 3 emission standards permitted to operate in the capital from 2028.
Grab’s charging network will support multiple vehicle brands, including VinFast, BYD, Toyota and Hyundai, unlike several manufacturer-specific charging networks in Vietnam. The company is investing in shared charging infrastructure through Eboost and is working with partners including Charge+, EV One and ChargeLink to expand charging access.
The expansion builds on Grab Vietnam’s partnership with Charge+ announced in Q3 2025 to develop EV charging and battery-swapping infrastructure. Grab has also integrated charging station location, payment and charging services into its Grab Driver app to improve convenience for driver-partners.
GERMANY LAUNCHES TRANSPORT DECARBONISATION PROJECT WITH VIETNAM
The Governments of Germany and Vietnam have launched a new cooperation project to support the green transformation of Vietnam’s transport sector, focusing on low-carbon mobility, electric vehicles and sustainable transport systems.
The project, titled “Supporting the Ministry of Construction in implementing Vietnam’s Nationally Determined Contribution (NDC) within the framework of the NDC Transport Initiative in Asia (NDC-TIA) Phase 2”, was launched by Vietnam’s Academy for Construction Strategy and Cadres Training under the Ministry of Construction and Germany’s Deutsche Gesellschaft für International Zusammenarbeit (GIZ).
Running from 2026 to 2028, the project will provide technical assistance and capacity building to strengthen policies supporting low-carbon transport and accelerate the adoption of electric and green-energy vehicles in line with Vietnam’s commitment to achieve net-zero emissions by 2050.
Key activities include developing technical regulations and standards for electric trucks, assessing urban EV charging infrastructure requirements, integrating electric vehicle fleets and green energy into public transport systems and urban rail networks, and designing financing mechanisms to support electric mobility and urban EV ecosystems.
The project will be implemented by GIZ in partnership with the Academy for Construction Strategy and Cadres Training, with technical support from the International Council on Clean Transportation (ICCT) and the World Resources Institute (WRI), reinforcing long-term Germany–Vietnam cooperation on sustainable transport and climate action.
VIETNAM SEEKS GLOBAL CAPITAL TO SUPPORT USD 1.5 TRN INFRASTRUCTURE INVESTMENT PROGRAMME
The Government of Vietnam is seeking to attract international capital to finance an estimated USD 1.5 Trn in infrastructure investment over the next decade as it accelerates efforts to achieve high-income economy status by 2045. The initiative comes as domestic funding sources, particularly the country’s banking sector, are expected to be insufficient to meet the scale of planned infrastructure investment.
The government’s financing strategy is expected to focus on mobilizing overseas institutional investors and expanding access to international capital markets to support long-term infrastructure development. The effort is linked to Vietnam’s broader plans to establish an International Financial Centre, which is intended to strengthen the country’s position as a regional financial hub and facilitate greater foreign investment.
From metro lines in Hanoi and HCMC to the North-South high-speed railway, to nuclear power plants, seaports, airports and thousands of real estate projects, many strategic works will be implemented over the next decade. These major investment programs alone scale over USD 700 Bn. If the entire investment demand of the economy is counted, Vietnam needs to mobilise nearly USD 1,500 Bn during the 2026 to 2030 period, equivalent to nearly USD 300 Bn annually.
Vietnam has significantly increased investment in transport, energy and urban infrastructure in recent years to support rapid economic growth and industrial development. The country’s long-term infrastructure programme is expected to play a key role in improving connectivity, attracting foreign direct investment and enhancing economic competitiveness as Vietnam works towards its 2045 development goals.
VIETNAM ISSUES NEW LEGAL FRAMEWORK FOR OFFSHORE WIND DEVELOPMENT
The Government of Vietnam has issued Decree 272/2026, introducing a new legal framework to support the development of offshore wind projects as part of the country’s broader renewable energy and electricity market objectives. The regulation focuses on the early stages of offshore wind project development and establishes a clearer regulatory pathway for site surveys and project approvals.
The decree sets out eligibility requirements for offshore wind survey activities, including a minimum capital requirement of VND 1 Bn per MW (USD 39,300 per MW) of proposed offshore wind capacity, technical capability criteria and a written commitment from developers not to seek reimbursement for survey costs. It also includes provisions relating to financial responsibility and project accountability. For offshore wind projects supplying electricity to the national grid, developers must obtain investment policy approval before proceeding, providing a more structured approval process for project development.
Decree 272/2026 represents a significant step in strengthening Vietnam’s offshore wind regulatory framework and is expected to provide greater certainty for project developers and investors. By establishing clearer project qualifications and approval requirements, the government aims to facilitate higher-quality project development, attract foreign investment and accelerate the expansion of the country’s offshore wind sector in support of its long-term renewable energy and energy transition objectives.
VIETNAM AND LAOS STRENGTHEN STRATEGIC CONNECTIVITY WITH TRANSPORT AND LOGISTICS INITIATIVES
The Governments of Vietnam and Laos have agreed to deepen their strategic partnership by advancing major transport infrastructure, logistics connectivity and economic cooperation. This elevates bilateral relations through practical implementation of the Vietnam-Laos “strategic connectivity” framework while preparing to implement the 2026-2030 bilateral cooperation agreement and commemorative activities marking the 65th anniversary of diplomatic relations in 2027.
Both countries identified transport connectivity as a key priority, agreeing to accelerate strategic projects including the Hanoi-Vientiane Expressway and the Vung Ang-Vientiane railway. Vietnam also pledged to support Laos’ ambition of becoming a regional logistics hub by improving its access to maritime trade routes. The two sides will work towards increasing bilateral trade to USD 10 Bn by 2030, while creating a more transparent and favourable investment environment for businesses. Vietnamese investment in Laos reached USD 582 Mn in the Q1 of 2026, bringing cumulative investment to approx. USD 6.6 Bn across 289 projects.
VIETNAM AND CAMBODIA EXTEND ROAD TRANSPORT AGREEMENT
The Governments of Vietnam and Cambodia have agreed to extend the implementation of their bilateral Road Transport Agreement and related protocols to the Tan Nam (Tay Ninh Province, Vietnam)–Meun Chey (Prey Veng Province, Cambodia) international border gate pair. The agreement establishes the legal framework for cross-border vehicle operations at the cross-border and is expected to facilitate trade, improve transport connectivity and reduce logistics costs between the two countries.
As part of the agreement, Vietnam announced plans to finance the construction, upgrading and expansion of the Tan Nam–Meun Chey Friendship Bridge. Authorities from both countries also agreed to accelerate administrative procedures with the aim of commencing construction in 2026. In addition, proposed amendments to the implementation protocol will be discussed at the annual road transport conference between the Vietnamese and Cambodian transport ministries, scheduled for Q3 2026, to further strengthen the legal framework for bilateral road transport.
The Tan Nam–Meun Chey border gate pair began operating at the provincial level in 2021 before being upgraded to an international border crossing in December 2025. Trade between Tay Ninh Province and Cambodia reached USD 3.19 Bn in 2025, accounting for 28.1% of total Vietnam–Cambodia trade. During the first half of 2026, trade through the Tan Nam–Meun Chey crossing increased by 86% year on year to approx. USD 54 Mn, while passenger traffic rose by 335%. To support future growth, Tay Ninh Province is upgrading road links to National Highway 22B and developing the Go Dau–Xa Mat Expressway, which will connect with the Ho Chi Minh City–Moc Bai Expressway.
VIETNAM AND NORWAY STRENGTHEN GREEN INVESTMENT AND ENERGY COOPERATION
The Government of Vietnam and Norway have agreed to deepen cooperation in green investment, renewable energy and carbon markets, following the conclusion of negotiations for the Vietnam–European Free Trade Association (EFTA) Free Trade Agreement, which is expected to boost bilateral trade and investment once signed and ratified.
Norway reaffirmed its support for Vietnam’s Just Energy Transition Partnership (JETP). Norfund, the Norwegian Investment Fund for Developing Countries, has established a representative office in Vietnam and plans to announce a new strategic investment later this year focusing on renewable energy, the circular economy and financial services.
Vietnam welcomed the planned investment as it updates its Power Development Plan VIII (PDP8) to significantly expand clean energy capacity, particularly offshore wind, where Norwegian companies possess extensive technical expertise.
Both countries also identified carbon markets as a key area for future cooperation. Norway expressed interest in developing Article 6 carbon credit projects under the Paris Agreement and purchasing carbon credits generated from Vietnam’s forest resources. Multilateral institutions, including the Green Climate Fund (GCF), Asian Development Bank (ADB) and Global Green Growth Institute (GGGI), are expected to support financing for renewable energy and emissions reduction projects.
HANOI EYES GELEXIMCO AS INVESTOR FOR USD 2.86 BN PROJECT TO REVIVE POLLUTED NHUE RIVER
Hanoi has proposed a VND 75.12 Trn (USD 2.86 Bn) Public-Private Partnership (PPP) project under a build-transfer contract to revive the severely polluted Nhue River. Running through 19 wards and communes across a 61.5-kilometre stretch, the initiative requires roughly 855 hectares of land and is targeted for execution between 2026 and 2029. The city is seeking to appoint multi-sector conglomerate Geleximco as the investor using a special selection mechanism.
The comprehensive plan comprises four main components focused on environmental restoration and infrastructure development. These involve land clearance for river widening, riverside roads, and landscaping; dredging the riverbed, building embankments, and upgrading sluice gates; constructing wastewater collection networks, stormwater separators, and pumping stations; and establishing up to 13 new wastewater treatment plants along the riverbank.
To compensate the investor, Hanoi preliminarily plans to offer land from six reciprocal development projects valued at approx. VND 69.1 Trn (USD 2.63 Bn). The proposed land sites cover major areas including Son Dong, An Khanh, Yen Nghia, Giao Luu, and parcels along key transit corridors. Final locations, sizes, and valuations will undergo further review during the feasibility study to balance state and investor interests.
DHL BREAKS GROUND ON USD 71 MN LOGISTICS CAMPUS IN HUNG YEN
DHL Supply Chain has officially broken ground on a USD 71 Mn logistics campus in Hung Yen province, Vietnam. Spanning more than 82,500 square meters, the project will serve as the company's largest premium Grade-A logistics hub in Southeast Asia. Strategically situated with direct access to the Ha Noi–Hai Phong Expressway, the hub will conveniently connect Noi Bai International Airport, Ha Noi, and Hai Phong Port.
The major expansion aims to capitalise on Vietnam's rapid economic growth, strong export market, and expanding network of free trade agreements. The country is projected to experience the world's fourth-largest increase in merchandise trade volume between 2026 and 2030, with trade expected to grow around 6% annually over that period. The facility is designed to support various industries, including technology, automotive, consumer goods, retail, healthcare, and industrial manufacturing.
Construction of the multi-phase project will unfold over the coming years, with the first phase scheduled for completion in the first half of 2027 to deliver 41,180 square meters of warehouse space. A second phase is slated to begin construction in the second half of 2028. Beyond bolstering regional supply chains, the project aligns with national logistics development goals to build modern infrastructure, improve warehousing efficiency, and generate local job growth.
ASIAN EYE MEDICAL SEEKS USD 20 MN TO GROW HOSPITAL NETWORK IN VIETNAM
Vietnam-based Asian Eye Medical Group is seeking up to USD 20 Mn in growth capital, favouring debt or convertible bond financing while also considering equity. The company plans to secure at least USD 10 Mn this year to fund its nationwide expansion, which includes greenfield developments and potential acquisitions of independent eye hospitals in regions such as Dong Nai and the Mekong Delta.
Established in 2024, the A Chau hospital chain operator currently runs a facility in Ho Chi Minh City, with a second location slated to open by the end of the year. The firm aims to scale its network to approx. 10 hospitals over the next three to five years, concentrating on Ho Chi Minh City and neighboring provinces.
Unlike competitors focusing predominantly on standard cataract and refractive procedures, Asian Eye is targeting underserved complex care segments like retina, cornea, and glaucoma. To bolster clinical expertise, the group is finalizing a partnership with India's LV Prasad Eye Institute for physician training and knowledge transfer, building upon a seed round backed by Genesia Ventures.
FLC, U.S. PARTNER TO STUDY CENTRAL VIETNAM AIRPORT UPGRADES
Vietnam's FLC Group has signed a preliminary agreement with U.S.-based HAS Development Corporation to explore Public Private Partnership (PPP) investments for upgrading Phu Cat Airport and Pleiku Airport. Under the national aviation development plan through 2030, Phu Cat Airport requires approximately USD 334 Mn (VND 8.7 Trn) to expand its capacity to three million passengers annually, while Pleiku Airport needs around USD 481 Mn (VND 12.6 Trn) to reach a two-million-passenger capacity. The local provincial authority has authorized FLC to conduct initial research and submit proposals, though no official investment approval or developer selection has been finalized. Both facilities operate as dual-use airports, meaning any final investment plans will require comprehensive reviews regarding national defense, security, land usage, and financial viability.
This initiative forms part of FLC's broader effort to rebuild an integrated aviation business alongside its real estate and resort portfolio. After regaining management control of Bamboo Airways in Q4 2025, the conglomerate created a dedicated aircraft leasing division and boosted its charter capital to USD 230 Mn (VND 6 Trn). The airline intends to establish international charter flights connecting the coastal tourist destination of Quy Nhon with the Central Highlands region, pending operational readiness and regulatory clearance. However, operational hurdles persist for the carrier, as only three of its eight aircraft are currently in active service.
GAI LAI PROVINCE PROPOSES USD 650 MN EXPRESSWAY PPP PROJECT
The Gia Lai Provincial People’s Committee has proposed the Ministry of Construction to build the Pleiku-Le Thanh Expressway under a Public Private Partnership (PPP) model.
Under the proposal, the expressway would be more than 54 km long. The starting point would connect with the terminus of the Quy Nhon-Pleiku Expressway, while the endpoint would connect with National Highway 19 near Le Thanh Border Gate in Ia Dom Commune. The project is proposed as a fully developed four-lane expressway, with a 24.75-metre roadbed and a designed speed of 100 kph.
The preliminary total investment is estimated at more than VND 17 Trn (USD 650 Mn), including nearly VND 9.3 Trn (USD 356 Mn) for construction, nearly VND 3.2 Trn (USD 122 Mn) for site clearance, and more than VND 4.5 Trn (USD 172 Mn) for other costs. Under the proposed PPP structure, private investors would mobilise approx. 30% of the total investment, while the State budget would provide the remaining 70%.
Investment preparations are expected to take place in 2026-2027, with construction scheduled to begin thereafter and the project substantially completed before 2030.
HO CHI MINH CITY LAUNCHES EIGHT KEY PROJECTS WORTH 9.6 BN USD
Ho Chi Minh City has officially launched eight major infrastructure projects with a total investment exceeding VND 253 Trn (USD 9.6 Bn). Financed through a mix of public investment, private capital, and Public Private Partnerships (PPP), these developments are designed to expand urban space, improve regional connectivity, boost logistics and tourism, and strengthen the city's economic competitiveness.
The eight projects include
Nha Rong-Khanh Hoi Cultural Park
Bach Dang Riverside Public Green Space
Ho Tram-Long Thanh Airport Urban Expressway
Can Gio-Vung Tau Sea Bridge
Cai Mep Ha General and Container Port
Ho Chi Minh City-Moc Bai Expressway
Binh Tien Bridge and Road
Ben Luc-Long Thanh Expressway interchange with Rung Sac Road connecting National Highway 50
AUGUST 2026
ENVISION ENERGY TO SUPPLY TURBINES FOR 200 MW PHU CUONG WIND PROJECT
Envision Energy has secured a contract from REE Energy to supply wind turbines for the 200 MW Phu Cuong 1A and 1B wind project in Vietnam. The project represents Envision’s largest wind project in Vietnam and its largest overseas nearshore wind project to date. Turbine deliveries are scheduled to begin in the Q2 of 2027, with grid connection targeted for October 2027.
The project will deploy 25 EN-226/8.X YE wind turbines, specifically designed for Vietnam’s nearshore wind conditions to maximise energy generation and long-term operational performance. The development builds on the companies’ existing partnership on the 128 MW Vinh Long wind projects, where turbine production commenced in April 2026 and deliveries are currently underway.
The Phu Cuong project further strengthens the collaboration between Envision Energy and REE Energy as they expand renewable energy development in Vietnam. Envision stated that the project will demonstrate its integrated Future Energy System, combining renewable power generation, energy storage, AI-powered energy management, and digital technologies to support more reliable and resilient clean energy infrastructure across Southeast Asia.
VIETNAM AND WORLD BANK AGREE ON 2026–2030 PIPELINE FOR HIGH-IMPACT INFRASTRUCTURE PROJECTS
Vietnam’s Ministry of Finance (MoF) and the World Bank (WB) have agreed to develop a pipeline of projects for World Bank financing during 2026–2030, prioritising high-impact investments in transport, energy, climate-resilient infrastructure and development policy financing. The agreement was reached during a meeting on July 28, 2026, between Minister of Finance Ngo Van Tuan and Mariam J. Sherman, World Bank Country Director for Vietnam, Cambodia and Laos. World Bank’s preliminary lending pipeline, around 24 projects with an estimated total loan value of USD 9.3 Bn have been identified for the five-year period.
Several projects have already completed loan negotiations and are expected to be signed in Q3 2026, while a further nine projects have received approval for borrowing proposals and are progressing through investment policy approvals and feasibility studies. The Ministry of Finance will review each proposed project against agreed selection criteria, focusing on well-prepared projects that have secured counterpart funding, demonstrate strong implementation capacity and can deliver measurable economic benefits. Transport infrastructure has been identified as a priority sector due to its potential to improve regional connectivity, stimulate industrial investment, enhance land use efficiency and support urban and service sector development.
The two sides also reviewed progress on the new Country Partnership Framework, pilot projects under the Multiphase Programmatic Approach, fast-track implementation mechanisms, budget support operations, high-tech investment proposals and technical assistance for Vietnam’s Infrastructure Finance Programme and National Investment Fund. Vietnam and the World Bank agreed to shift future lending towards transformational, high-impact investments while maintaining public debt sustainability and improving the efficiency of public investment.
XUAN CAU BEGINS CONSTRUCTION OF 450 MW SOLAR PROJECT IN VIETNAM
Xuan Cau Holdings has started construction of a 450 MW solar power plant in Tay Ninh province in southern Vietnam. The VND 7.77 Trn (USD 300 Mn) project is expected to generate approx. 808 GWh of electricity annually and is scheduled to enter operation in December 2027.
The solar project is Xuan Cau Holdings’ third solar power plant in Tay Ninh and its fifth renewable energy project in Vietnam. The facility will contribute to the expansion of renewable energy generation and support rising electricity demand once operational.
The development aligns with Vietnam’s revised National Power Development Plan, adopted in April 2025, which targets a renewable energy share of 28-36% of the power mix by 2030, excluding hydropower, and around 75% by 2050. Vietnam’s peak electricity demand is expected to reach approx. 85.7 GW by 2030 and 202-228 GW by 2050. The country also plans to expand onshore wind capacity to 26 GW by 2030 and offshore wind capacity to 6-17 GW.
FUTA EXPRESS AND VET TO STRENGTHEN VIETNAM–CAMBODIA CROSS-BORDER LOGISTICS
Phuong Trang FUTA Express Service Corporation (FUTA Express) and Vireak Buntham Express Co Ltd (VET) have signed a Memorandum of Understanding (MoU) to strengthen cross-border logistics connectivity between Vietnam and Cambodia.
Under the MoU, the companies will jointly develop two-way freight transportation services, integrate logistics infrastructure and operational processes, and expand the use of technology for shipment tracking and supply chain management. The partnership aims to establish a more efficient, transparent and reliable cross-border logistics system to support bilateral trade and regional economic growth.
FUTA Express operates a logistics network across Vietnam, supported by warehouses, transportation fleets and delivery points, while VET is a major logistics provider in Cambodia with established local operational capabilities. The partnership will combine the companies’ respective networks and market expertise to improve cross-border freight connectivity.
A key focus will be agricultural logistics. The companies plan to develop specialised solutions for fresh produce, seasonal products and temperature-sensitive goods. The initiatives are expected to reduce transit times and logistics costs, minimise post-harvest losses and improve market access for agricultural products in both countries.
Following the signing, the two companies will begin implementing the agreed initiatives with the aim of developing a seamless and sustainable Vietnam–Cambodia logistics corridor. The partnership is also intended to strengthen regional connectivity and support economic development in both countries.
MOU SIGNED FOR ENERGY AND INFRASTRUCTURE PROJECTS IN VIETNAM
KN Energies and Vietnam-based INDEL Investment and Development Joint Stock Company (Indel Petro) have signed a memorandum of understanding (MoU) to establish a framework for co-operation on energy and infrastructure projects in Vietnam. The agreement does not specify a contract value, project scope or implementation timeline.
The partnership combines KN Energies’ experience in liquefied natural gas (LNG) and energy infrastructure with Indel Petro’s activities across the petroleum, energy, logistics and infrastructure sectors in Vietnam. The companies will co-operate on potential future projects under the framework established by the MoU.
KN Energies has operated LNG infrastructure since 2014 and provides LNG terminal development, commercial and technical advisory, and floating storage and regasification unit (FSRU) expertise. Its activities extend across Europe, South America and Asia.
The agreement is intended to facilitate the exchange of international experience and support the development of future energy infrastructure projects in Vietnam. No specific projects, investment commitments or construction schedules have been announced.
STB TELECOM VIETNAM AND PARTNERS TO DEVELOP SMART GREEN INDUSTRIAL PARK IN VIETNAM
SB Telecom Vietnam, a subsidiary of SoftBank, SHINEC, Litehouse and VietABank have signed a memorandum of understanding (MoU) to research, develop and provide integrated technology, finance and implementation solutions for manufacturing companies and factories in industrial parks in Vietnam. The agreement establishes a framework for jointly evaluating projects, with SB Telecom Vietnam leading solution provision, technical consulting and sales support.
The partnership will combine SHINEC’s industrial park infrastructure with SB Telecom Vietnam and SoftBank’s technology ecosystem, Litehouse’s data integration and artificial intelligence (AI) consulting capabilities, and VietABank’s financing and trade finance services. Solutions under consideration include smart factory and Internet of Things (IoT) systems, equipment monitoring, anomaly detection, network, server and cloud infrastructure, access control, AI and system automation, energy monitoring, carbon dioxide emissions visualisation and industrial park data analytics.
The initial phase will survey tenant requirements, assess technical infrastructure at a priority industrial park and select two to three potential use cases. A proof-of-concept phase will then test one or two solutions focused on smart operations monitoring or energy optimisation. Performance will be assessed using cost savings, return on investment, operational efficiency and customer satisfaction before wider deployment across SHINEC’s industrial park system.
DAI LOI HOLDING-AN PHAT CONSORTIUM SELECTED FOR USD 61.2 MN IA HLA WIND POWER PROJECT
The Gia Lai provincial government has selected a consortium of Dai Loi Holding and An Phat to execute the Ia Hla wind power project. This central Vietnam energy initiative will require an estimated investment of VND 1.60 Trn (USD 61.21 Mn). Out of this total budget, VND 1.58 Trn (USD 60.45 Mn) is dedicated specifically to direct implementation costs. The remaining VND 20 Bn (USD 0.77 Mn) is strictly allocated for compensation, support, and local resettlement efforts.
The planned wind power facility will have an installed capacity of 40 MW and generate about 119.46 million kWh of electricity annually. Spanning 24.76 hectares across the Ia Ko and Chu Puh communes, the project secures a 50-year operational term. Construction of the plant is officially scheduled to commence in February 2027. Following a rapid timeline, commercial power generation is targeted to begin precisely one year later in February 2028.
This consortium secured the project during a second bidding round after previous investor groups failed to satisfy preliminary capacity criteria. To qualify, Dai Loi Holding expanded its charter capital from VND 89.00 Bn (USD 3.40 Mn) to VND 589.00 Bn (USD 22.53 Mn). The company also officially pivoted its registered business activity to renewable electricity generation in July 2026. This development actively supports Gia Lai’s broader initiative, which encompasses 110 renewable energy projects as of August 2026.
HANOI LAUNCHES 17 FLAGSHIP PROJECTS WORTH OVER USD 15 BN
Hanoi has initiated 17 major infrastructure projects to celebrate Vietnam's National Day, requiring a combined investment of approx. VND 381.75 Trn (USD 15.27 Bn). These initiatives are designed to address immediate urban needs while providing long-term developmental capacity for the city's future expansion. The plan includes 11 completed projects utilizing around VND 12.88 Trn (USD 515 Mn) and six new developments accounting for VND 368.75 Trn (USD 14.75 Bn). This represents a massive push toward modernizing the capital, heavily supported by private funding.
The projects span multiple sectors, encompassing road expansions, national railway lines, water management systems, and widespread urban renewal initiatives. Notable new constructions include two major railway lines and a Ring Road extension, aiming to boost regional connectivity across northern Vietnam. Extensive urban redevelopment is planned in several communes to better accommodate population growth and rising commercial demands. Around 85% of the total funding is sourced from non-budget investments, highlighting strong private sector involvement.
A flagship environmental initiative is the revitalization of the West Lake waterfront, funded through a Public-Private Partnership (PPP). The project involves upgrading local roads, parks, and recreational spaces to preserve historical significance while improving public accessibility. City leadership emphasized that these upgrades must prioritize environmental quality and distinctive local values rather than merely adding infrastructure. Authorities have been directed to ensure coordinated operations and proactive management to swiftly deliver practical benefits to residents.
METRO EXTENSION FROM HO CHI MINH CITY TO LONG THANH AIRPORT GETS GREEN LIGHT
The government has authorized a Public-Private Partnership (PPP) extension of Ho Chi Minh City's Ben Thanh-Suoi Tien metro line to Long Thanh Airport in Dong Nai. Spanning 44.5 kilometers, the route will operate at speeds up to 120 kph and be developed in two phases. The preliminary investment is estimated at VND 60.26 Trn (USD 2.32 Bn), requiring 192 hectares of land and VND 4.32 Trn (USD 166.06 Mn) for compensation costs. Expedited procedures were previously approved by national leadership to accelerate the overall investment timeline.
Authorities mandate transparent investor selection and careful land clearance to protect resident and business interests while preventing public order issues. The Ministry of Finance will oversee the project's financial aspects, and the Ministry of Construction will assist local authorities with implementation. Construction is planned for 2026 to 2030, expanding upon the original metro line that launched in December 2024 for VND 43.70 Trn (USD 1.68 Bn). This existing 20-kilometer route connects the city's downtown to Thu Duc City in roughly 30 minutes.
Long Thanh Airport, the metro's final destination, is scheduled to launch commercial operations on December 1 of this year. Approved in 2015 with a total budget of VND 336.63 Trn (USD 12.94 Bn), the airport is designed to eventually feature four runways and four terminals. Its initial development phase costs VND 110.00 Trn (USD 4.23 Bn) and includes a terminal capable of serving 25 million passengers annually. Once complete, the facility will gradually replace Tan Son Nhat as southern Vietnam's primary international aviation hub.
VIETNAM’S LARGEST COMPANY VINGROUP GETS LAND FOR USD 1.5 BN NORTHERN URBAN PROJECT
A consortium led by Vingroup has secured 112 hectares of land to develop a major urban project in northern Vietnam. Located in Bac Ninh Province, the Northwest New Urban Area is projected to cost VND 41 Trn (USD 1.58 Bn). The conglomerate plans to use this site to significantly expand its domestic residential real estate portfolio. This marks the first land allocation for the massive project, which will eventually span a total of 270 hectares.
Out of the initially allocated land, 50 hectares are approved for constructing villas, townhouses, and large apartment towers. The remaining space is dedicated strictly to public infrastructure, encompassing sports facilities, road networks, and green spaces. The consortium must pay to lease the 50-hectare residential portion but receives the public infrastructure space without charge. In return for the free land, developers are mandated to hand the completed infrastructure over to local government authorities.
When fully completed, the broader 270-hectare urban area will feature nearly 3,500 residential units and structures up to 35 stories tall. The comprehensive project will also dedicate 9.5 hectares exclusively to the construction of much-needed social housing. Bac Ninh Province benefits from its strategic position as a northeastern gateway within a major regional economic triangle. Highlighting its rapid development, the National Assembly recently approved Bac Ninh's elevation to a centrally administered city.
VIETNAM ACCELERATES MARITIME DEVELOPMENT TOWARDS 2030
The Government of Vietnam has issued Resolution No. 218/NQ-CP outlining an action plan to establish the country as a leading maritime nation by 2030. It sets clear operational schedules across government levels to target nine priority areas, including ocean governance and capital mobilization. Overall, the policy prioritizes sustainable marine resource management to drive high-tech, eco-friendly industrial growth.
A core focus is modernizing transport networks by building smart, green deep-water seaports and expanding the domestic merchant fleet. Port operations will integrate with national road, rail, and airway transit corridors to optimize domestic and international logistics. Additionally, targeted regulatory mechanisms will fast-track investments in offshore ventures, deep-sea installations, and marine energy generation.
The strategy also reforms fisheries by curtailing nearshore harvesting and scaling high-tech aquaculture using digital tracking and automation. Furthermore, the framework promotes ecotourism, cruise tourism, and emerging sectors like green ammonia, desalination, and subsea networks. Collectively, these measures aim to unlock economic productivity while safeguarding marine ecosystems and national sovereignty.
VIETNAM, LAOS TO DEVELOP NEW ROAD TRANSPORT AGREEMENT TO STRENGTHEN CROSS-BORDER CONNECTIVITY
Vietnam’s Ministry of Construction has authorized the drafting of an agreement with Laos on road transport to establish a comprehensive legal framework for cross-border transport between the two countries. Decision No. 1405/QD-BXD was issued on August 11, 2026, and the agreement is intended to facilitate cross-border movement, strengthen infrastructure connectivity, and support bilateral trade.
The drafting process will run from August to October 2026, with relevant agencies reviewing existing laws and international treaties related to road transport and assessing the potential political, defence, security and socio-economic impacts of the proposed agreement. The Department for Roads of Vietnam will lead the work in coordination with the Department of International Cooperation and other agencies.
The Ministry of Construction is expected to submit a formal proposal to commence negotiations and a proposal to conclude negotiations to the Prime Minister during the third and fourth quarters of 2026. Negotiations are expected to take one to two years, after which the two governments will undertake the required procedures for signing the international treaty.
The agreement is intended to address logistical bottlenecks and other obstacles affecting cross-border road transport, while improving the efficiency of transport connectivity and trade between Vietnam and Laos. It is also expected to provide a legal basis for implementing existing bilateral agreements and strengthening transport cooperation between the two countries.
NEXIF RATCH ENERGY ADVANCES 102 MW WIND POWER PROJECT IN VIETNAM
Singapore-based Nexif Ratch Energy has moved closer to developing its 102-MW Nexif Energy Khanh Hoa 1 wind power project in Khanh Hoa province, central Vietnam, after the project was added to a list of land plots to be auctioned for investor selection.
The project is planned across approx 35.6 hectares in Ba Ngoi ward, Dong Khanh Son commune and Cam An commune. It is expected to generate around 312,500 MWh annually for supply to Vietnam’s national power grid, with an estimated investment of VND 3.2 Trn (USD 122.73 Mn). Nexif Ratch Energy signed a memorandum of understanding with the provincial authorities in 2024 to support research, surveys and exploration of investment opportunities for the project.
The Khanh Hoa People’s Council has approved a list covering eight wind and solar projects, with a combined planned capacity of nearly 822 MW, for land auctions aimed at selecting investors. The Nexif project is one of four wind projects included on the list.
Nexif Ratch Energy, established in 2022 as a joint venture between Singapore’s Nexif Energy and Thailand’s Ratch Group, is also developing other renewable energy projects in Vietnam, including a 143 MW wind power plant in Gia Lai province and the 80-MW Nexif Energy Ben Tre wind power plant.
VIETNAM RAILWAY PROJECT FACES HIGHER COSTS AS CHINA EXIMBANK PROPOSES RMB FINANCING
The investment for Vietnam's Lao Cai–Hanoi–Hai Phong railway project has increased to USD 11.05 Bn. This 426-kilometer standard-gauge network will connect the Chinese border to key industrial zones and seaports. It includes an additional 63 kilometers of branch lines to support regional logistics. The main route is designed to accommodate passenger and freight trains at speeds up to 160 kilometers per hour. The project is targeted for completion by 2030 and will link directly with China's railway system.
To fund the initiative, China Eximbank intends to supply a USD 6.5 Bn loan. The bank proposed dispensing these funds in Chinese yuan rather than US dollars. This approach aims to reduce borrowing costs and minimize currency exposure when sourcing equipment from China. The remaining USD 4.3 Bn will be covered by Vietnam's public investment plan. The finance ministry is currently evaluating these proposed funding structures before making a final commitment.
The construction will utilize a multi-package joint venture model involving companies from both nations. This strategy is designed to boost domestic participation and encourage significant technology transfer. Authorities chose this approach to avoid the delays and budget overruns seen in previous single-contractor infrastructure projects. The initial project cost was approved at USD 8.3 Bn but required a revision due to updated construction expenses. The higher estimate accounts for increased material costs, alignment changes, and necessary resettlement funds.
SEPTEMBER 2026
TNT AND INFRAKEY MAP OUT VIETNAM DATA-CENTRE EXPANSION WORTH UP TO USD 10 BN
TNT Group and Texas-based Infrakey DC Parks have signed an agreement to explore developing a large-scale data center network in Vietnam. The proposed multi-phase initiative could reach up to 1,000 MW in capacity, with total project expenditure potentially reaching USD 10 Bn. An initial 200 MW phase targets power delivery within 36 months once site selection and grid allocations are secured.
Under the planned collaboration, TNT Group will oversee site acquisition, permitting, and local utility coordination within Vietnam. Infrakey DC Parks will lead the technical design, development standards, financing structures, and the overarching feasibility study. This operational split aims to streamline project execution by combining local regulatory access with specialized digital infrastructure expertise for artificial intelligence and cloud workloads.
Despite the headline valuation, the project currently remains in the feasibility stage rather than representing an active construction commitment. Subsequent expansion phases remain contingent on grid availability, commercial viability, and sustained regional demand. The key test for TNT Group and Infrakey DC Parks will be converting this preliminary understanding into a fully funded, bankable development.
VIETNAM PUSHES BACK START OF USD 67 BN HIGH-SPEED RAIL PROJECT
Vietnam has postponed the start of its monumental North-South high-speed railway project to late 2027. The extensive infrastructure initiative is estimated to cost USD 67 Bn and faces a one-year delay from its previously accelerated schedule. Government officials noted that progress has been slower than anticipated due to unforeseen objective factors, requiring tighter planning.
To get back on track, authorities are demanding clear timelines and strict accountability across all phases of development. This oversight will apply to crucial preliminary steps such as site clearance, surveying, consulting, and the eventual construction work. Bids from contractors were originally expected in June, but no official selections have been announced yet.
Once completed, the 1,541-kilometer rail line will connect Hanoi to Ho Chi Minh City, slashing travel times from 30 hours down to just five. The development is a cornerstone of Vietnam's strategy to leverage public investment to attract private capital. Upgrading nationwide infrastructure remains a critical priority as the country targets double-digit economic expansion this year.
THREE CHINESE GROUPS PROPOSE ENERGY, RAILWAY INVESTMENTS IN VIETNAM
Major Chinese corporations, including Huawei, China Energy Engineering Corporation (CEEC), and China Communications Construction Company (CCCC), have proposed expanding investments in Vietnam across green energy, digital infrastructure, and cross-border transport. During bilateral meetings at the China-ASEAN Expo in Nanning, Vietnamese leadership encouraged deeper partnerships in emerging sectors to match surging energy and technological needs.
Huawei plans to advance clean energy, power storage solutions, and artificial intelligence, transitioning from equipment supply toward joint research, development, and tech workforce training.
CEEC is seeking to expand cooperation in renewable energy, gas-fired power, and power grid transmission to help stabilize Vietnam's power supply and socioeconomic expansion. The corporation also expressed strong interest in participating in cross-border railway projects linking Vietnam and China.
CCCC is also pursuing rail connectivity initiatives, specifically targeting the Lao Cai–Hanoi–Haiphong railway link.
VINFAST TO SUPPLY 3,000 ELECTRIC VEHICLES TO GREEN SM FLEET
Vietnam-based VinFast has secured an order for 3,000 electric vehicles from Xe Nhanh Viet Nam for deployment on the Green SM platform by 2027. The vehicles will operate in Ho Chi Minh City, including the former Binh Duong province, Dong Nai and Tay Ninh.
The fleet will comprise five models: Minio Green, EC Van, Limo Green, VF 5 and Herio Green. Xe Nhanh Viet Nam, which has partnered with GSM and VinFast since 2025, has also invested in V-Green charging infrastructure in the operating areas. The companies signed a memorandum of understanding in Hanoi for the project.
AIIB EXPANDS INFRASTRUCTURE COOPERATION WITH VIETNAM
The Asian Infrastructure Investment Bank (AIIB) is set to expand support for Vietnam’s infrastructure development, with priority areas including transport infrastructure, railway connectivity, green and energy transition, urban development and cross-border connectivity. The cooperation is expected to move from individual projects towards a programme-based approach, creating a portfolio of implementation-ready projects.
The partnership will also focus on technical assistance for project preparation, innovative financing structures and co-financing with development partners and the private sector. Vietnamese financial institutions are expected to explore models for mobilising capital and issuing bonds in the domestic market, while AIIB will support the identification, preparation and implementation of priority projects.
CAMBODIA, VIETNAM ACCELERATE CROSS-BORDER EXPRESSWAY CONNECTION
The Governments of Cambodia and Vietnam have agreed to fast-track plans to connect the Phnom Penh–Bavet Expressway with the Moc Bai–Ho Chi Minh City Expressway through the existing Bavet–Moc Bai international border crossing, targeting completion by 2030. The two countries’ transport ministries discussed the project in Hanoi, focusing on technical standards, infrastructure integration and arrangements for seamless cross-border traffic.
The connection is intended to reduce congestion at the border and improve the use of both expressways. Cambodia’s 138-km Phnom Penh–Bavet Expressway is currently under construction and will run through three provinces to Bavet in Svay Rieng province. The initiative supports the two countries’ broader goal of increasing bilateral trade, which reached nearly USD 4.72 Bn in the first half of 2026, up 9% yoy.
SAIGONTEL-LED GROUP PROPOSES USD 3.5 BN AI DATA CENTRE IN SOUTHERN VIETNAM
A consortium led by Saigontel has proposed a large-scale AI data centre complex in Tay Ninh, with the first 100 MW phase requiring an estimated investment of USD 3.5 Bn. The consortium, comprising Saigontel, World Harmony Co Ltd (WVU) and SAIF Eagle II Investment Co Ltd, submitted a letter of interest to Tay Ninh authorities during the 2026 Tay Ninh Investment Promotion Conference. The partners plan to study the project on 20 hectares at Nam Tan Tap Industrial Park, with a total planned capacity of up to 200 MW.
The first phase is targeted to begin construction in Q4 2026 and enter commercial operation in 2027, subject to regulatory approvals and other requirements. The consortium will work with provincial authorities and the power sector to finalise electricity supply arrangements before proceeding with the investment approval process.
The project brings together partners with experience across telecommunications, high-tech infrastructure, renewable energy and investment. Saigontel is part of Saigon Invest Group, while WVU is developing a 32 MW hyperscale data centre in Taipei. SAIF Eagle II, part of SAIF Group, has investments across data centre infrastructure and semiconductor-related businesses.
The proposed facility comes as demand for AI computing, cloud services and digital infrastructure expands in Vietnam. If developed as planned, its initial 100 MW phase would rank among the country’s larger data centre projects, while the eventual 200 MW capacity would significantly add to Vietnam’s AI computing infrastructure.
VIETNAM'S DINH THANH CA MAU ENERGY WINS 36 MW ONSHORE WIND PROJECT
The provincial government of Ca Mau, Vietnam has selected Dinh Thanh Ca Mau Energy as the investor for the 36 MW Dong Hai 5 Wind Farm, a VND 1.22 Trn (USD 46.8 Mn) project. The planned facility will comprise seven turbines and connect to the national grid via a 110 kV system.
Dinh Thanh Ca Mau Energy is expected to contribute VND 250 Bn in equity and secure external financing for the remaining VND 972 Bn.
The project's operating term will be 49 years from the date land-use rights are granted. Construction is expected to begin between Q3 and Q4 2027, with commercial operations targeted for Q3 Q4 2028, or within 12 months of construction commencing.
DEO CA PROPOSES PPPs TO EXPAND 350 KM OF NORTH-SOUTH EXPRESSWAY SECTIONS
Deo Ca Group has proposed widening more than 350 km of Vietnam’s eastern North-South Expressway from four to six lanes through Public-Private Partnership (PPP). The proposal covers the Mai Son–National Highway 45, Nghi Son–Dien Chau, Vinh Hao–Phan Thiet, and Phan Thiet–Dau Giay sections. The initial studies indicate that expansion of the Mai Son–Dien Chau and Vinh Hao–Dau Giay corridors could be feasible under a PPP structure without state budget support.
The wider North-South Expressway expansion programme has a preliminary investment estimate of about VND 154 Trn (USD 5.91 Bn), with around VND 103 Trn (USD 3.96 Bn) in the medium-term public investment plan. If funding is constrained, authorities may prioritise a 534 km group of sections developed during the 2017–2020 phase, with an estimated cost of roughly VND 64 Trn (USD 2.46 Bn). Expanding the route is necessary to improve transport capacity, safety, and regional economic connectivity. The ministry plans to prioritise heavily used sections, aiming to begin work on some stretches in 2027, start remaining sections in 2028, and complete expansion of the full corridor by 2030.
VIETNAM BREAKS GROUND ON USD 1.4 BN BRIDGES CONNECTING HO CHI MINH CITY AND DONG NAI
Construction has started on the Cat Lai and Long Hung bridges in Vietnam, with combined investment exceeding VND 36.7 Trn (USD 1.4 Bn). Developed under the Public-Private Partnership (PPP) model, the projects will strengthen transport connectivity between Ho Chi Minh City and Dong Nai and improve access to Long Thanh airport. Both projects are scheduled for completion and opening in 2029.
The Cat Lai Bridge project will span more than 11.6 km, including a 3.6-km main bridge and approach structures, with an investment of more than USD 910 Mn. It will have six motor vehicle lanes and two non-motorised traffic lanes, with an 80-kph design speed and a 450-metre main span. The Long Hung Bridge will extend approx. 9.8 km, including 3.5 km of main bridge and approaches, with investment of more than USD 480 Mn. It will also have six motor vehicle lanes and two mixed-traffic lanes, with an 80-kph design speed and a 350-metre main span.
List of Key Transactions - Q3 2026
Source: YOG INFRA analysis
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