Strategies
Where Vietnam builds next, and how we take part
Four equity strategies and one credit strategy, each tied to the part of the build-out it serves.
- 01CoreEquityEssential infrastructure. Enduring cash flows.
- 02Core+EquityContracted assets with a defined second phase
- 03Value AddEquityPlatforms built around where demand is moving
- 04OpportunisticEquityGreenfield and special situations in the 2026–30 build-out
- 05Infrastructure DebtCreditLong-dated credit for a market funded by short-dated deposits
Intelligence
Build tracker
The projects and market shifts that shape where capital is needed in Ho Chi Minh City and across Vietnam, each with its source.
Ho Chi Minh City and the south
Illustrative. Cuong Tran, public domain Under constructionHo Chi Minh City, Dong Nai, Tay NinhRing Road 3
VND 75.4tn ($3.2bn)
76 km expressway ring; 29 km opened in December 2025, full opening targeted for 2026.
Source: VnEconomy
Illustrative. Hai Phong terminal, Nathan.cima, CC BY-SA 4.0 ApprovedCan Gio, Ho Chi Minh CityCan Gio International Transshipment Port
VND 128.9tn ($4.95bn)
Investor approval in April 2026 to VIMC, Saigon Port and MSC’s TiL; 4.8m TEU capacity targeted by 2030. The consortium funds 15%; the rest must be raised.
Source: The Investor
Illustrative. Metro Line 1, Xuanphuocle, CC0 Under constructionHo Chi Minh CityMetro Line 2, Ben Thanh–Tham Luong
VND 55tn ($2.1bn)
11.3 km, mostly underground; broke ground January 2026, service targeted around 2030.
Source: The Star
Long Thanh airport. Stevetruong, CC BY-SA 4.0 Under constructionDong Nai, east of Ho Chi Minh CityLong Thanh International Airport
>$16bn across three phases
Phase one built for 25m passengers and 1.2m tonnes of cargo a year; commercial operation scheduled for 2026.
Source: VietNamNet
Illustrative. Tran Van Ngoc, CC0 OperatingHo Chi Minh City (Thu Thiem, former District 1) and Da NangInternational Financial Centre
686 ha planned in HCMC
Established under Resolution 222/2025; Da Nang opened in January 2026, the HCMC hub followed.
Source: Baker McKenzie
Illustrative. Cat Lai port, Bem photography, CC BY 2.0 OperatingHo Chi Minh City, Dong Nai, Tay NinhSouthern industrial parks
92% ready-built factory occupancy
Q2 2026 occupancy: 76.3% for industrial land, 92.0% for ready-built factories, 91.7% for warehouses; demand shifting to Dong Nai and Tay Ninh.
Source: Cushman & Wakefield
Illustrative. BalticServers.com, CC BY-SA 3.0 Under constructionSaigon Hi-Tech Park and HanoiData centres
$2bn G42–FPT–VinaCapital campus
Capacity expected to grow to nearly 600 MW by 2030; power supply and land are the binding constraints.
Source: Viet Nam News
Illustrative. Gordon Leggett, CC BY-SA 4.0 OperatingDong NaiNhon Trach 3 & 4 LNG power
$1.4bn · 1,624 MW
Vietnam’s first LNG-fired plants entered commercial operation in December 2025.
Source: The Star / Reuters
Vietnam
Illustrative. Hanoi, Ongbac9999, CC BY-SA 3.0 ApprovedHanoi to Ho Chi Minh City, 20 provincesNorth–South high-speed railway
VND 1,713.5tn ($67.6bn)
1,541 km at 350 km/h; groundbreaking due by end-2026, completion targeted for 2035.
Source: Viet Nam News
Illustrative. NKSTTSSHNVN, CC BY-SA 4.0 OperatingCao Bằng to Cà MauNational expressway network
3,345 km of main routes
Up from 1,163 km in 2020; the North–South Expressway was completed at the end of 2025.
Source: Viet Nam News
Illustrative. North–South 500 kV line, Vietbook, CC BY 3.0 OperatingQuang Trach to Pho Noi500 kV Circuit 3
VND 22.3tn
519 km line energised in August 2024, raising central-to-north transfer capacity from about 2,200 MW to 5,000 MW.
Source: Government of Viet NamIllustrative. Vietbook, CC BY 3.0 Under constructionEVN network, led by HanoiGrid battery storage
305 MW in EVN’s first programme
First utility-scale pilot of 50 MW / 100 MWh in Hanoi; PDP8 targets 10,000–16,300 MW of storage by 2030.
Source: Vietstock
Bạc Liêu wind farm. Tycho, CC BY-SA 3.0 OperatingNationwideOperating renewables M&A
Decrees 57 and 58/2025
Buyers are concentrating on operating wind and solar, including projects whose legacy tariff issues are nearing resolution.
Source: VnEconomy
Illustrative. Thu Thiem bridge, Cécile Patry-Morel, CC BY-SA 4.0 ApprovedNationwideTransport PPP pipeline
$49.9bn across 30 projects
30 transport PPPs approved in principle, 12 at signed contract; the 2026-30 transport need is put at almost $115bn.
Source: VietNamNet
Illustrative. Simon_sees, CC BY 2.0 OperatingNationwideBank credit and bonds
Credit at 146% of GDP
About 80% of bank funding is short term; the cap on its use for long loans rose to 40% in July 2026. Corporate bond issuance reached $21.8bn in 2025.
Source: The Investor
Status and figures as reported by each source, October 2026.