In December 2024, Vietnam’s electricity, gas, water, and air conditioning sector registered 1 new project with US$301.29 million in newly registered capital, according to data from Vietnam’s Ministry of Planning and Investment. This is the first new project in this sector after no new projects were recorded in November.
In 2024, the sector attracted a total of 4 new projects with US$1.42 billion in newly registered capital.
Vietnam’s electricity, gas, water, and air conditioning sector is a vital component of the nation’s infrastructure, supporting rapid industrialisation, urbanisation, and economic growth. The electricity sub-sector dominates, driven by increasing energy demand from industrial zones, urban areas, and a growing population. Vietnam relies on a diverse energy mix, including coal, hydropower, gas, and a rapidly expanding renewable energy segment, particularly solar and wind power. The government has outlined ambitious goals for transitioning to clean energy to reduce greenhouse gas emissions and improve energy security.
The gas sector plays an important role in meeting industrial and household energy needs, with Vietnam exploring new offshore gas fields to ensure supply. Similarly, the water supply sector is critical to urban and industrial development, with ongoing investments in infrastructure to improve access and quality. The air conditioning and climate control industry has also grown significantly due to rising living standards and the increasing need for cooling systems in tropical climates. As Vietnam continues to modernise its infrastructure and focus on sustainability, this sector is expected to expand further, attracting significant domestic and foreign investment.
See also: How to Start a Business in Vietnam