VietNam Market Business Development

We created two intelligence updates focusing on the macro and sector-level context for 2026. The market snapshot for 2026 highlighted Vietnam's projected GDP growth (6.7–10%), the rapid increase in infrastructure spending (20–30% annual growth, aiming for 10% of GDP), the Block B–O Mon gas-to-power project (USD 12 billion total investment, with first gas in 2026 targeting a production plateau of 600 MMscfd), and PV GAS's capital program for 2026–2030, which involves USD 3.8 billion focused on expanding LNG terminals, developing northern and central terminals, and integrating hydrogen blending. The Q1 2026 sector update compiled upstream drilling activities in the Cuu Long Basin (Blocks 15-1, 16-1, 09-2, 15-1/05, 15-2/17) and Nam Con Son Basin (progress on Block B&48/95–52/97 well installation, with the first wells starting in May 2026).

It linked these activities to specific equipment demand categories — such as modular gas processing, dehydration, condensate handling, compression skids, and brownfield tie-in packages — and detailed the Canada-Vietnam trade and policy context, including the benefits of CPTPP and the TCS priority classification of Vietnam as an energy-transition market for Canadian suppliers.