Vingroup’s Chairman, Mr. Pham Nhat Vuong
Why is Vingroup Investing $4.5 Billion in Wind Power in Can Gio?
According to Dau Tu newspaper, Vingroup recently proposed to the Ho Chi Minh City People’s Committee a near-shore wind power plant project in Can Gio district.
The proposed project has an estimated capacity of 3,000 MW and is expected to produce approximately 9 billion kWh of electricity annually. With a preliminary total investment of $4.5 billion, the project’s construction will be phased to match the demand for electricity in each period.
Vingroup clarified that the project aims to meet the power demands of the Can Gio sea reclamation urban area and the corporation’s internal needs.
The corporation has requested permission from the Ho Chi Minh City authorities to conduct research and surveys in a 1,163-hectare area in the Can Gio sea, which covers the entire coastal region of Can Gio.
The Can Gio sea reclamation tourism urban area – Vinhomes Green Paradise spans 2,870 hectares at the gateway to Long Hoa and Can Thanh town. This project is not only influential for Ho Chi Minh City but also a growth driver for the Southeast region, offering a breakthrough vision for national marine economic development. It was inaugurated on April 19.
Artist’s impression of the Can Gio sea reclamation tourism urban area – Vinhomes Green Paradise by Vingroup.
Developed following the world’s most advanced urban model – ESG (Environmental – Social – Governance), the project adheres to the principle of harmony between humans, nature, and technology. This approach aims to realize sustainable development and maximize the advantages of the natural ecosystem.
Boston Consulting Group (BCG), a leading global management consulting firm, is providing strategic advisory services for the project. Together, they strive to meet stringent environmental criteria, optimize energy and water use, prioritize recycled materials, and establish a smart urban management system.
The Can Gio offshore wind power system will be located 10 kilometers from the shore, well beyond the safe distance, to ensure optimal efficiency. The project is expected to utilize advanced technology and the highest standards to harness natural wind power and provide green energy for the Vinhomes Green Paradise mega-city.
Vingroup’s New Focus
At the 2025 Annual General Meeting of Shareholders, Vingroup’s Chairman, Mr. Pham Nhat Vuong, announced that the company would expand into two new business pillars: infrastructure and energy. Regarding energy, the group will focus on green energy investments.
Earlier in April, Vingroup also proposed to research and invest in a near-shore wind power project in Duyen Hai, Tra Vinh, spanning over 13,400 hectares. With a total installed capacity of 3,000 MW, the project is divided into two phases: phase 1 (2025-2030) with 1,500 MW and phase 2 (2031-2035) with 1,500 MW. The expected electricity output is 9 billion kWh per year, and the total investment is estimated at $4.5 billion.
Wind power in action.
In March 2025, Vingroup sent a document to the government requesting the addition of renewable energy projects to the national power development plan. The group proposed implementing renewable energy projects with a total capacity of 47,500 MW in the 2025-2035 period. These projects are expected to be carried out in seven localities: Son La, Dak Lak, Ninh Thuan, Binh Phuoc, Dong Nai, Tra Vinh/Soc Trang, and Khanh Hoa.
By 2030, the total capacity is targeted at 20,500 MW, requiring an investment of $20-25 billion. These renewable energy projects include solar power plants (13,900 MW) and wind power plants (6,600 MW).
Additionally, Vingroup has requested the inclusion of a 5,000 MW LNG-fired power plant project in Hai Phong in the Power Development Plan VIII revision. If approved, the plant is expected to be constructed over five years (2025-2030) with a total investment of approximately $5.5 billion.
According to Vingroup, the Hai Phong LNG-fired power plant will compensate for the capacity of some large thermal power plants that cannot be implemented, such as Nam Dinh 1 (1,200 MW), Quang Tri (1,320 MW), Vinh Tan 3 (1,980 MW), and Song Hau 2 (2,120 MW).
As billionaire Pham Nhat Vuong stated, with the government calling on businesses to join hands in executing large-scale projects to build the country, “As a large corporation, we must take responsibility, and when we do, we must think big.”
Market Beat: Stocks End Higher, Energy Sector Soars
The market ended the session on a positive note, with the VN-Index climbing 2.06 points (+0.15%) to reach 1,341.87, while the HNX-Index gained 1.77 points (+0.8%), closing at 223.56. The market breadth tilted in favor of gainers, with 388 advancing stocks against 360 declining ones. However, the large-cap VN30 index painted a mixed picture, as 15 stocks declined, 10 advanced, and 5 remained unchanged.
“Entrepreneur Pham Nhat Minh Hoang’s Company Expands with a New Venture: Wedding Car Rental Services Starting at VND 1.26 Million”
“Green Future, owned by entrepreneur Pham Nhat Minh Hoang, offers a unique and eco-friendly twist to the traditional wedding car rental service. With a passion for sustainability and a desire to reduce carbon emissions, Green Future presents three exclusive packages for couples to choose from.
The first package, ‘Eco-Chic’, offers a selection of hybrid and electric vehicles, providing a quiet and environmentally conscious entrance for the bride. The second package, ‘Nature’s Luxe’, includes a range of luxury cars with low emissions and stylish, nature-inspired designs. Lastly, the ‘Green Grandeur’ package presents an opportunity for a truly grand entrance with a choice of classic, vintage cars, each meticulously restored with eco-friendly materials and fuel-efficient engines.”
High-Speed North-South Rail Project: Why is VinSpeed Willing to Take a Loss?
VinSpeed has proposed the development of a high-speed rail network connecting the North and South of the country, with a bold promise to expedite construction and accept the risk of financial losses to achieve a historic feat in Vietnam’s infrastructure landscape.
The Lightning-Fast Legend: The $7 Billion Mega-Project Unlocks the “Master Key” to a Trillion-Dollar Goldmine
“Did you know that this magnificent structure boasts fire-resistant and highly efficient insulating materials? A hidden gem of innovation, this building’s construction utilizes state-of-the-art materials that offer superior protection against the elements.”
What’s Capturing the Attention of Stock Investors?
The VN-Index is inching closer to its 2025 peak after three consecutive weeks of gains. The looming profit-taking pressure could trigger short-term market volatility. Next week, investors’ eyes will be glued to news of potential tariff negotiation support between Vietnam and the US, which could provide a fresh impetus for the market.
