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

来源： hdll.vn

Development outlook

越南政府正在投资国家电网的现代化和扩建，以满足日益增长的需求并有效整合可再生能源。

– 该国的目标是到 2030 年实现 30.4 吉瓦太阳能发电量和 6 吉瓦海上风电发电量⁹.

– 由于快速的城市化和工业增长，可再生能源需求不断上升。

政府政策

– 第80/2024/NĐ-CP号法令授权实施直接购电协议（DPPA），以支持能源多元化，减少对化石燃料的依赖，并加强能源安全。这体现了越南致力于打破电力行业垄断的努力。

– 上网电价 (FIT) 的修订，特别是通过促进对可再生能源行业的补贴，增强了长期投资者对风能、太阳能和生物质能项目的信心，这些项目在越南仍未得到充分开发

Key investment cases

– 2021年底，印度阿达尼集团在越南投资了两个可再生能源项目，包括由阿达尼福明风电有限公司运营的位于宁顺省顺南县福明乡的27.3兆瓦风电项目；以及同样位于宁顺省的50兆瓦太阳能发电项目。

– PNE AG（德国）早在2019年就提出了在越南投资$46亿越南盾的海上风电项目。经过六年的开发，该项目最近取得了一些积极进展

- 2025年3月5日，日本驻越南大使伊藤直树确认，日本国际合作银行（JBIC）和日本企业将共同在越南投资包括风力发电厂在内的14个项目，总资本额达200亿美元

Current landscape

Vietnam’s healthcare spending rose from USD 16.1 billion (2017) 到 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.

来源： 统计局

Development outlook

– 2026年医疗器械市场规模将达到1421亿美元¹¹.

– 2020年，卫生部启动了1000个远程医疗站点，连接30多家主要医院，支持复杂病例的会诊和治疗

政府政策

2024年《医疗检查和治疗法》简化了外商直接投资程序：

– 不要求外国投资者与公立医院合作。

– 100% 允许外资拥有诊所和医院。

– 减税、免除进口关税以及加快许可审批时间。

Key investment cases

– 汤姆森医疗以143.81亿塔卡收购了FV医院。

– 富士越南公司与公立医院合作推出了人工智能辅助诊断系统。

– 西门子健康、通用电气医疗和美敦力继续扩大业务范围。

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

来源： 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.

资料来源：B&Company 的综合报告

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.

资料来源：B&Company 的综合报告

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

来源： 越南画报

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.

资料来源：B&Company 的综合报告