Vingroup Ventures into Clean Energy with the Development of LNG Power Plant in Haiphong
On June 9th, the Board of Directors of Vingroup Joint Stock Company resolved to approve the group’s participation in a consortium with VinEnergo Energy Joint Stock Company to invest in the Haiphong LNG Power Plant project. The plant will be located in Tan Trieu Industrial Park, Kien Thuy District, Haiphong City, and will cover an area of approximately 98.515 hectares.
The project is designed with a total capacity of 4,800MW, to be implemented in two phases:
Phase 1: 1,600MW
Phase 2: 3,200MW
The project has a duration of up to 50 years from the approval date. The Board of Directors has authorized the CEO – Legal Representative of Vingroup or his authorized representative to decide on the terms and sign the consortium agreement with VinEnergo. They will also handle legal procedures, project investment, and enterprise establishment (if necessary), adhering to legal regulations and the Board’s approval.
Previously, in a document sent to the Government in March 2025, Vingroup proposed a total capacity of 47,500MW for renewable energy projects to be developed during 2025-2035. The expected investment for the period up to 2030 is $20-25 billion for a total capacity of 20,500MW, including solar power plants (13,900MW) and wind power plants (6,600MW). In addition to Haiphong, potential locations for these projects include Son La, Dak Lak, Ninh Thuan, Binh Phuoc, Dong Nai, Tra Vinh, Soc Trang, and Khanh Hoa.
VinEnergo was established on March 12, 2025, and is headquartered at the Symphony Office Building in Hanoi. The company specializes in electricity and electrical equipment production.
In terms of shareholder structure, billionaire Pham Nhat Vuong holds 71% of the shares, while his eldest son, Pham Nhat Quan Anh, holds 5%, and his second son, Pham Nhat Minh Hoang, holds another 5%. The remaining 19% is owned by Vingroup.
“REE – Sustainable Growth Strategy (Part 1)”
The Ho Chi Minh City Refrigeration Electricity Joint Stock Company (HOSE: REE) is shifting its focus to renewable energy as a key part of its growth strategy for the coming years. The company is accelerating its hydropower and wind power projects and seeking new investment opportunities that align with the adjusted Power Development Plan VIII. With this direction, REE not only aims to increase capacity but also enhance operational efficiency, striving for sustainable development and keeping pace with the global energy transition.
“Vietnam’s Foremost Business Tycoon, Mr. Pham Nhat Vuong, Finalizes Transfer of 48 Million VIC Shares to Fund the High-Speed North-South Railway Project.”
The latest development sees billionaire Pham Nhat Vuong transfer almost 71 million VIC shares, equivalent to 1.24% of Vingroup’s capital, as he contributes to the establishment of VinEnergo.
A New Strategic Impulse for Vietnam-US Trade Relations
During his recent visit to Washington D.C., Minister of Industry and Trade Nguyen Hong Dien held a series of significant meetings with the President of the US-ASEAN Business Council and leaders of prominent American businesses and associations. The primary objectives of these engagements were to foster bilateral trade relations, advocate for market economy recognition, and encourage further investment in Vietnam.
The Liquidity Conundrum: Is $1 Billion Daily Volume Enough for a Market Upturn? Tariff Troubles Persist.
Market liquidity has seen a boost, but it’s not quite enough to propel the market to new heights. With a daily turnover of nearly $1 billion, this liquidity mirrors that of April–June 2024 when the VN-Index hovered around the 1300-point mark.
The Capital’s Vision: Green-lighting Three Road Construction Projects Ahead of District-level Dissolution
The Hanoi People’s Committee has approved the investment policy for three road projects in Soc Son, Thuong Tin, and Dan Phuong districts. These projects aim to improve transportation infrastructure and connectivity, fostering the economic and social development of these areas.
