International expansion and exports to Vietnam

Vietnam as a market

With a population of nearly 100 million, diverse natural resources and an extensive coastline, Vietnam offers opportunities across several sectors for Norwegian exporters. The main export opportunities are in renewable energy, fisheries and other forms of aquaculture, as well as the circular economy.

What do we do?

We have a local presence in Vietnam, with an office at the Norwegian Embassy in Hanoi. This puts us in a strong position to connect Norwegian companies with government authorities and other relevant local stakeholders. We also have strong relationships with contacts and partners near Ho Chi Minh City and in other commercial centres across the country.

We have strong networks and in-depth expertise across sectors and regions. Our services and programmes include:

• Market insights
• Access to networks
• Knowledge transfer
• Direct advisory
• Market visits (both one-to-one and in groups)

Opportunities for Norwegian companies in Vietnam

Renewable energy and offshore wind

Growing trade and an expanding middle class are driving increased energy demand among Vietnamese households and industry. Vietnam is a party to several international climate agreements and is actively working to reduce emissions from energy production. There is a particular need to develop offshore and onshore wind power, as well as solar power generation. Companies with technological expertise and experience in operations and production in these sectors will find promising opportunities to establish a presence in Vietnam.

Aquaculture

Vietnam has a long coastline and extensive marine areas and resources. Food production and fisheries are vital industries for meeting the population's food needs and safeguarding the country's food security. Seafood production is, and will remain, an important export industry for Vietnam in the coming decades. Norway's fisheries and aquaculture industry has the experience, expertise and technology to improve the quality of aquaculture operations in Vietnam. This creates promising export opportunities for Norwegian companies that can supply equipment and solutions to these sectors. Read more about Vietnam's marine sector here.

Maritime industry and the ocean economy

Vietnam is well positioned to develop its ocean economy. The Vietnamese government has a sustainable ocean economy strategy towards 2030, based on the development of the oil and gas industry, the maritime industry and aquaculture. Although crude oil prices are low, the petroleum industry continues to play an important role in Vietnam's economy and makes a significant contribution to the national budget. In the coming years, Vietnam will modernise its fishing fleet by building steel and composite vessels equipped with more modern fishing gear, positioning equipment and storage facilities such as RSW systems.

LNG

Liquefied natural gas (LNG) is currently one of the more environmentally friendly fossil energy sources and is considered a good alternative to traditional fossil fuels. The Vietnamese authorities have made it clear that developing LNG production is a high priority to meet the country's growing energy needs. This also aligns with Vietnam's commitments under international climate agreements. Norwegian companies supplying equipment and technology for LNG production have promising export opportunities in the Vietnamese market. The authorities are approving new LNG projects where Norwegian companies can apply their expertise in partnership with local businesses.

Circular economy

The key challenge posed by Vietnam's rapid growth is how to make its industries and business sectors more sustainable. The country needs strategies to manage local natural and marine resources for future generations. Vietnam is currently among the world's largest contributors to marine pollution and lacks effective waste management solutions for households and industry. Norwegian companies have strong export opportunities in these industries and in other sectors where they can offer relevant green solutions.