绿色可持续外商直接投资（FDI）：越南在可再生能源与ESG驱动型投资中的新兴机遇

Green and Sustainable FDI: Vietnam’s Emerging Opportunities in Renewable Energy and ESG-Driven Investment

绿色可持续外商直接投资（FDI）：越南在可再生能源与ESG驱动型投资中的新兴机遇

As global investment priorities undergo a profound shift toward sustainability, Vietnam finds itself at a pivotal moment. The country’s rapid economic growth over the past two decades has brought new prosperity, but it has also introduced pressing environmental challenges that require structural change. In response, Vietnam is transitioning toward a greener development model, and this shift is reshaping the landscape of foreign direct investment. In 2025, sustainable FDI, particularly in renewable energy, circular-economy initiatives, and ESG-aligned projects, has become one of the most dynamic and strategically important areas of economic engagement between Vietnam and international investors.

随着全球投资重点向可持续发展方向发生深刻转变，越南正处于关键时刻。过去二十年间，该国经济的快速增长带来了新的繁荣，但也引发了亟待解决的环境挑战，需要进行结构性变革。为此，越南正推动向绿色发展模式转型，而该转型正在重塑其外商直接投资（FDI）格局。到2025年，可持续FDI——尤其是可再生能源、循环经济项目及符合ESG导向的项目——已成为越南与国际投资者之间最具活力且具战略意义的经济合作领域之一。

Vietnam’s commitment to sustainability has intensified since the government pledged to achieve net-zero emissions by 2050. This long-term aspiration has already produced tangible policy reforms aimed at attracting environmentally responsible investment. These include more transparent regulations for power procurement, clearer incentives for green infrastructure, and evolving standards for corporate environmental responsibility. Such changes are particularly significant in the energy sector, where demand continues to surge due to industrial growth and rising household consumption. The country’s abundant natural resources, from expansive coastline wind potential to strong solar irradiation, have made renewable energy one of its most promising avenues for sustainable investment.

自越南政府承诺于2050年前实现净零排放以来，该国对可持续发展的承诺日益坚定，并已带来一系列旨在吸引环境友好型投资的制度与政策调整，包括：电力采购规则更趋透明、绿色基础设施激励更为明确，以及企业环境责任标准的持续完善。上述变化在能源领域尤为显著——随着工业发展与居民消费水平上升，对该领域需求的持续攀升。同时，越南还拥有丰富的自然资源，从广阔海岸线蕴藏的风能潜力到显著的强太阳辐照条件，使可再生能源成为其最具前景的可持续投资领域之一。

Solar energy stands at the forefront of Vietnam’s green transition. Over the past several years, large-scale solar farms have transformed once-underdeveloped regions into vibrant energy hubs, attracting substantial foreign participation. While earlier phases of solar expansion were characterized by rapid deployment under generous feed-in tariffs, the current focus has shifted toward more sustainable, long-term mechanisms. Investors are increasingly evaluating Vietnam not only for its natural suitability but also for its improving regulatory clarity, growing grid capacity, and potential in rooftop solar, distributed generation, and hybrid energy systems. The evolution from policy-driven incentives to more integrated planning reflects Vietnam’s maturing approach to green energy.

太阳能正引领越南绿色转型浪潮。过去数年间，大型太阳能发电站项目推动部分原本欠发达地区转型为能源产业集聚区，并吸引了大量的外商投资。早期太阳能扩张主要依托较为优惠的上网电价补贴（feed-in tariff）政策推动快速部署，而当前发展重心已转向更可持续发展的长期机制。投资者评估越南时，不仅考量其自然禀赋优势，也更加关注监管规则的清晰度提升、电网承载能力的增长，以及屋顶光伏、分布式发电与混合能源系统的巨大潜力。从政策驱动型激励向综合规划模式的转变，体现出越南绿色能源发展理念的成熟进化。

Wind power, especially offshore wind, offers an even more dramatic growth opportunity. With one of Asia’s longest coastlines and consistently strong wind speeds, Vietnam is widely regarded as a future leader in offshore wind generation. International developers have taken note, and interest continues to rise as the government refines its marine spatial planning and power development strategies. Offshore wind requires substantial capital investment and long-term policy certainty, but Vietnam’s willingness to collaborate with global partners signals its intention to become a major player in this sector. As technology costs fall and regional demand for clean energy increases, offshore wind could become a flagship category for sustainable FDI in the years ahead.

风能，尤其是海上风能，蕴藏着更为巨大的增长机遇。凭借亚洲最长的海岸线之一和持续强劲的风速，越南被公认为未来海上风电领的重要引领者。国际开发商已注意到这一机遇，随着越南政府不断完善海洋空间规划和电力发展战略，相关投资兴趣持续升温。海上风电项目通常需要巨额资本投入和长期政策保障，越南展现出的与全球伙伴开展合作的意愿，释放出其希望在该领域占据关键地位的明确政策信号。随着技术成本下降与区域清洁能源需求增长，海上风电有望在未来数年成为越南可持续FDI的旗舰领域之一。

Beyond renewable energy generation, Vietnam is also cultivating investment opportunities in the circular economy. Waste-to-energy plants, advanced recycling facilities, biomass production, and sustainable agribusiness models are beginning to attract foreign capital. Multinational consumer-goods companies are seeking local partners to develop packaging recovery and recycling systems, driven by global sustainability commitments and tightening domestic regulations. For Vietnam, circular-economy development is both an environmental imperative and an economic opportunity, as it helps reduce waste, cut emissions, and create new industrial value chains aligned with global green standards.

除可再生能源发电外，越南还在培育循环经济领域的投资机遇。垃圾发电厂、先进回收设施处理、能源生物质生产，以及可持续农业商业模式，均开始吸引外资流入。受全球可持续发展承诺和国内监管收紧的推动，跨国消费品公司正寻求本地合作伙伴共同建立包装回收与再循环体系。对越南而言，发展循环经济既是环境责任，也是经济机遇——它有助于减少废弃物、降低排放，并建立符合全球绿色标准的新型产业链。

Central to the rise of green investment is the growing importance of environmental, social, and governance (ESG) criteria in corporate decision-making. Investors, particularly from Europe and North America, increasingly view ESG performance not as a peripheral concern but as a fundamental element of risk management and reputation. Vietnam has responded by strengthening its own ESG framework. New regulations encourage greater disclosure of environmental impact, labor practices, and corporate governance. These requirements, initially applying to listed companies and financial institutions, are gradually cascading across entire supply chains. For foreign investors, a clearer ESG environment reduces uncertainty and provides confidence that projects will align with global sustainability expectations.

绿色投资兴起之核心是企业决策中环境、社会及治理（ESG）标准日益增长之重要性。尤其对来自欧洲与北美的投资者而言，ESG表现已被普遍视为风险管理和声誉的核心要素，而非次要考量。对此，越南相应地强化了本国的ESG制度框架，通过新规鼓励企业提高对环境影响、劳动用工实践及公司治理情况的披露水平。相关要求最初主要适用于上市公司与金融机构，现在正逐步向整个供应链体系传导。对外资而言，更清晰的ESG规则环境有助于降低合规不确定性，并增强项目符合全球可持续发展预期的信心。

The influence of ESG standards is particularly visible in export-oriented sectors. International brands sourcing from Vietnam now require suppliers to comply with stricter sustainability protocols, from energy efficiency and emissions tracking to waste reduction and responsible sourcing. This creates new investment demand for clean technologies, smart manufacturing systems, and low-carbon industrial estates. Industrial parks that integrate renewable energy, green building certification, and circular waste systems are becoming increasingly attractive to foreign tenants seeking to meet ESG benchmarks. As Vietnam’s manufacturing ecosystem adapts to these expectations, the interplay between green investment and export competitiveness becomes more tightly interconnected.

ESG标准在出口导向型行业中的影响尤为突出。国际品牌在越南采购时，已要求供应商遵守更严格的可持续规范，包括能效提升、排放核算与追踪、废弃物减量以及负责任采购等，从而催生对清洁技术、智能制造解决方案与低碳工业园区的新增投资需求。能够综合集成可再生能源应用、绿色建筑认证与循环废弃物系统的产业园区，正日益受到希望达成ESG基准的外资企业青睐。随着越南制造体系逐步适配上述要求，绿色投资与出口竞争力之间的相互作用变得更加紧密。

However, Vietnam’s journey toward sustainable FDI is not without obstacles. Grid congestion remains a significant challenge, especially in regions where renewable energy production has grown faster than transmission capacity. Some policy uncertainties, such as pricing frameworks and power purchase agreements, have temporarily slowed momentum for large renewable projects. Financing costs for green infrastructure, though gradually improving, can still be high for emerging markets. Moreover, achieving deeper ESG integration requires continued improvements in regulatory enforcement, data transparency, and environmental monitoring.

然而，越南迈向可持续FDI的道路并非一帆风顺。电网拥堵仍是重大挑战，尤其在可再生能源产量增长快于输电能力提升的地区更为明显。部分政策层面的不确定性——例如电价机制与购电协议（PPA）框架——暂时减缓了大型可再生能源项目的推进速度。尽管绿色基础设施融资成本正逐步改善，但相较成熟市场仍可能偏高。此外，要实现深层次的ESG嵌入，还需在加强监管执行力度、数据透明度和环境监测体系建设等方面持续强化。

Despite these challenges, the overall outlook for green and sustainable FDI in Vietnam is exceptionally strong. The country’s long-term climate commitments, combined with its rich natural resources and expanding domestic demand, provide a compelling foundation for investors seeking both impact and growth. Moreover, Vietnam’s ability to balance economic development with environmental responsibility enhances its appeal at a time when global capital is increasingly flowing into markets that demonstrate serious climate ambition.

尽管面临这些挑战，越南绿色可持续FDI的整体前景仍然极为乐观。其长期气候承诺叠加丰富的自然资源优势与断扩大的国内需求，为寻求兼顾“影响力”与“增长性”的投资者提供了坚实基础。与此同时，在全球资本更倾向流向具备明确气候雄心与治理行动的市场之际，越南在推动经济发展与履行环境责任之间寻求平衡的能力，进一步提升了其对国际资本的吸引力。

As 2026 unfolds, Vietnam stands at the forefront of Southeast Asia’s green transition. Its emerging opportunities in solar, wind, circular-economy projects, and ESG-driven investment not only reflect global trends but also showcase the country’s evolving identity as a modern, forward-looking, and environmentally conscious destination for foreign capital. The next decade will determine how effectively Vietnam transforms these opportunities into enduring economic and environmental gains, but the momentum is unmistakable: sustainability has become one of the most powerful drivers of FDI in Vietnam’s new development era.

随着2026年的到来，越南已处于东南亚绿色转型的前沿位置。该国在光伏、风能、循环经济项目以及ESG驱动型投资领域涌现的新机遇，不仅契合全球趋势，也体现出越南作为现代化、前瞻性且更具环境意识的外资目的地形象正在成形。未来十年将检验其能否将这些机遇有效转化为长期的经济与环境收益；但可以确认的是，发展势头已然明朗：可持续发展已成为越南新发展阶段中吸引外商直接投资的最强劲驱动力之一。