Current landscape

Energy demand in the Vietnamese industry sector is surging, projected to rise 12–13% in 2025. Renewable energy already makes up 27% of installed capacity (2023), led by solar and wind, though grid limitations pose challenges⁸.

Renewable energy & green infrastructure: A new direction promising Vietnam’s future development

出典： hdll.vn

Development outlook

ベトナム政府は、増大する需要に対応し、再生可能エネルギー源を効果的に統合するために、国の電力網の近代化と拡張に投資している。

– 2030年までに太陽光発電30.4GW、洋上風力発電6GWの目標⁹.

– 急速な都市化と産業の成長により、再生可能エネルギーの需要が増加しています。

政府の政策

– 政令80/2024/NĐ-CPは、直接電力購入契約（DPPA）を可能にし、エネルギーの多様化、化石燃料への依存度の低減、エネルギー安全保障の強化を支援する。これは、ベトナムが電力セクターの独占を緩和しようとしていることを反映している。

– 特に再生可能エネルギー部門への補助金を促進することにより、固定価格買い取り制度（FIT）の見直しを行い、ベトナムで未開発のままとなっている風力、太陽光、バイオマスプロジェクトに対する長期的な投資家の信頼を強化する。

Key investment cases

– 2021年末、アダニグループ（インド）はベトナムで2つの再生可能エネルギープロジェクトに投資しました。ニントゥアン省トゥアンナム郡フオックミン村にあるアダニフオックミン風力発電株式会社が運営する27.3MWの風力発電プロジェクトと、同じくニントゥアン省にある50MWの太陽光発電プロジェクトです。

– PNE AG（ドイツ）は、2019年にベトナムで1兆4千億4600万ドルの洋上風力発電プロジェクトを提案した。6年間の開発を経て、このプロジェクトは最近、いくつかの前向きな進展を見せている。

– 2025年3月5日、伊藤直樹駐ベトナム日本大使は、国際協力銀行（JBIC）と日本企業が、ベトナムの風力発電所を含む14のプロジェクトに共同で投資し、総資本は最大200億米ドルに達することを確認した。

Current landscape

Vietnam’s healthcare spending rose from USD 16.1 billion (2017) に USD 22 billion (2022), equal to about 6.5% of GDP¹⁰. Besides, statistics from the Ministry of Health show that, over the past decade, Vietnam’s per capita healthcare spending has grown by an average of 11% annually. The average number of hospital visits per person per year increased from 1.89 visits in 2010 to 2.95 visits in 2020. However, this figure remains significantly lower than in other countries in the region, such as Thailand (3.5 visits/year) and China (4.9 visits/year). Therefore, there remains substantial room for growth in healthcare services in the coming years.

出典： Statista

Development outlook

– 医療機器市場は2026年までに1兆4千億21億ドルに達する見込み¹¹.

– 2020年に保健省は30以上の主要病院と接続した1,000の遠隔医療サイトを立ち上げ、複雑な症例の診察と治療を支援しました。

政府の政策

2024年の医療検査および治療に関する法律により、外国直接投資の手続きが簡素化されます。

– 外国投資家が国立病院と提携する必要はない。

– 100% 外国所有の診療所および病院は許可されます。

– 減税、輸入関税の免除、ライセンス取得期間の短縮。

Key investment cases

– トムソンメディカルがFV病院を$3億8100万で買収。

– 富士フイルムベトナムは公立病院と提携し、AI支援診断システムを導入した。

– Siemens Healthier、GE Healthcare、Medtronic は引き続き拠点を拡大しています。

Current landscape

Vietnam’s semiconductor industry has become a focal point of the Vietnam industry sector, serving as a vital hub for assembly, testing, and packaging for multinational corporations such as Intel, Samsung, and Foxconn. This positioning underscores Vietnam’s growing importance in the global downstream semiconductor supply chain. According to recent Vietnam industry reports,+ the market is experiencing substantial growth. Industry revenue is projected to reach $21 billion in 2025, an 18% increase from 2024¹⁴. Integrated circuits represent more than 80% of this market, fueled by their extensive application in consumer electronics, automotive, and healthcare industries.

Development outlook

Statista projects Vietnam’s semiconductor revenue will grow at a CAGR of ~10% from 2025 to 2029, reaching about $31 billion by 2029, with integrated circuits continuing to account for the bulk of this value. Meanwhile, investments are expected to shift Vietnam up the value chain through significant projects:

– Hana Micron (Korea) is investing $930 million in semiconductor manufacturing in Bac Giang by 2026.

– Signetics (Korea) is building a new flip-chip and IC packaging factory ($100 million) set for 2025.

– High-level talks between Vietnam and Japan are fostering cooperation in semiconductors, with a focus on workforce training and Japanese investment.

The Vietnam–Japan Semiconductor Partnership Program held in February outlined multiple areas for technological collaboration

出典： Ministry of Planning and Investment (former)

The next decade could see Vietnam not only expanding production capacity but also developing design centers, wafer fabs, and a skilled talent pool, enabling the Vietnam industry sector to capture more domestic value.

Government incentives

Decision 1018/QĐ-TTg (2024) sets the official strategy for semiconductor development, covering human capital, infrastructure, and investment conditions. One landmark policy is Decree 182/2024/NĐ-CP, which offers generous funding support for high-tech and semiconductor projects. Under this program, the government offers to co-fund up to:

– 50% of human resource development costs (e.g. training engineers)

– 30% of R&D expenditures

– 10% of investment in fixed assets

– and 3% of production costs for eligible semiconductor enterprises

Additionally, the state can support up to 25% of spending on social infrastructure (e.g. specialized facilities) for these projects.

Key investment case

Major global players like Amkor Technology and Hana Micron are significantly expanding their operations in Vietnam. Amkor is investing $1.6 billion in a new state-of-the-art advanced packaging plant, while Hana Micron has announced plans to invest approximately $930 million by 2026 to significantly enhance its chip packaging and testing facilities within the country.

資料: B&Company

Current landscape

Vietnam’s automotive market is undergoing a profound transition within the broader Vietnam industry sector. Conventional combustion vehicles remain dominant, yet the adoption of electric vehicles (EVs) and hybrids is accelerating sharply. In 2023, EV sales hit 15,700 units (6% of total auto sales) ¹⁷, a remarkable shift from near-zero levels just a few years earlier. Driving this change, VinFast pivoted entirely to EVs, while global brands like Kia, Hyundai, Audi, and Lexus also introduced new electric models.

Hybrid vehicles are also gaining ground. In 2024, sales surged by over 200% to about 10,000 units, with Japanese automakers leading the way. Toyota, with nearly 49% of the hybrid market, dominates thanks to consumer demand for fuel efficiency and reliability.

Development outlook

The outlook is highly dynamic. Vietnam has pledged net-zero carbon emissions by 2050, reinforcing aggressive electrification policies. Industry forecasts expect the EV market to nearly double from $3 billion in 2025 to $7 billion by 2030, with a CAGR of ~18%¹⁸. Foreign automakers are scaling their presence: BYD (China) established 13 dealerships in 2024 and plans 100 by 2026. This opens broad opportunities across the Vietnam industry sector, not only in vehicle production but also in related fields like battery manufacturing, recycling, charging networks, and smart grid technologies.

Government incentives

The government offers a robust package of incentives to promote EV production and adoption:

– Special Consumption Tax (SCT): A reduced rate of 1–3% is applied to EVs until February 2027.

– Registration Fees: A full waiver is in effect for EVs until February 2025, followed by a 50% discount for the subsequent two years.

– Import Duty Exemptions: Machinery, equipment, and components for EV manufacturing are exempt from import duties.

– Green Transport Strategy: This national strategy provides a formal roadmap for achieving 100% vehicle electrification by 2050. (Note: Hybrid vehicles do not currently benefit from the same dedicated tax incentives as battery electric vehicles.)

Key investment case

VinFast’s international expansion illustrates the sector’s global ambition, including a $500 million EV plant in India. Foreign players are also showing strong confidence: BYD and Mitsubishi are exploring local production, while component suppliers like Bosch and Samsung SDI target the EV supply chain.

資料: B&Company

Current landscape

Logistics is a critical pillar of the Vietnam industry sector, underpinning the country’s export-driven economy. The sector counts over 34,000 enterprises providing transportation, warehousing, freight forwarding, and related services. It has grown at 14–16% annually, with revenues estimated at $40–42 billion per year, or about 4.5% of GDP²¹. Road transport remains dominant, supported by growing sea and air freight. Value-added services—cold storage, fulfillment, and express delivery—are increasingly important, driven by booming e-commerce and modern retail.

Development outlook

As Vietnam strengthens its position as a regional manufacturing hub, logistics demand will rise sharply. The industry is projected to sustain double-digit growth and could reach $80–100 billion within 5–7 years. FDI is flowing in, especially from Japan, South Korea, and Singapore. Key trends shaping the sector include:

– Modern warehouses: Large-scale, automated facilities supporting e-commerce and industrial clients.

– Cold chain logistics: Expanded refrigerated transport and storage for seafood, fruit, pharmaceuticals, and vaccines.

– Smart logistics solutions: Adoption of automation, AI, and IoT in warehouses and transport networks.

Government incentives

Vietnam’s Logistics Strategy 2025–2035 (Vision 2050) outlines a clear plan for sector modernization. Key government initiatives include:

– Long-term vision: To develop Vietnam into a regional logistics hub, including the development of free trade zones.

– Foreign participation: Encouragement of joint ventures to attract FDI, facilitate technology transfer, and enhance competitiveness.

– Infrastructure investment: Public spending on expressways, ports, and airports; PPPs encouraged: new expressways (e.g. the North–South Expressway), deepening major seaports (Lach Huyen, Cai Mep-Thi Vai), and new airports (Long Thanh International).

– Workforce development: Logistics training programs with Japan and Singapore partnerships.

– Regulatory improvements: National Single Window for customs, digital port systems to cut bureaucracy.

The key project to upgrade the Cái Mép–Thị Vải international port to the deepest channel in Vietnam was completed in 2024

出典： ベトナム写真

Key investment case

Prominent international logistics companies, including Sumitomo, Lineage, DHL, and JD Property, are actively establishing modern warehousing and distribution centers in Vietnam. These investments reflect the growing demand for efficient, high-quality logistics solutions in the region.

資料: B&Company