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Vietnam is one of the world's fastest-growing economies, with an economic size of US$430 billion.

An ambitious target with support from the government would help channel foreign investment, including investors with experience and technologies in renewables like world-class energy developer Equinor.

Vietnam is at a relatively early stage in the process of formulating both its coastal zone planning and sustainable management of resources document and its maritime spatial planning document.

Big projects coupled with a consistent regulatory framework will be essential for the development of the offshore wind industry in Vietnam.

Vietnam’s National Oil and Gas Group said Norwegian partners help it develop the offshore wind industry in terms of technologies and finance.

The Netherlands hopes that its expertise will help develop Vietnam's offshore wind to fulfill the Southeast Asian country's net-zero strategy by 2050.

A phase of rapid wind power growth is expected to meet the country’s increasing electricity demand, ensure energy security, and deliver socio-economic benefits in pursuit of a renewables-led pathway.

The extension, if could last for several months, is expected to tackle problems caused to investors by the Covid impact.

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Vietnam is urged to have an offshore wind roadmap to convince investors that this kind of energy has a central role to play in the years to come.

Without a FiT deadline postponement, these projects will be unable to progress, according to GWEC.

Experts have said that concise and detailed regulations will facilitate investors and mitigate the impact on the environment.

Vietnam has the best wind resources in Southeast Asia, featuring yearly average wind speed of 9-10 meters per second.

Vietnam has a globally relevant offshore wind resource, enabling it to generate 30% of total national electricity by 2050.

The wind farm is expected to be commissioned by the end of third quarter of 2021.

The project will increase Vietnam’s wind power capacity by 30%, helping the country meet rapidly growing demand for energy.