European manufacturers are considering investing hundreds of millions of dollars in Vietnam to build wind turbine plants.

According to the World Bank Group, Vietnam has a large untapped potential in offshore wind due to its strong winds in shallow waters close to the coast.

Three industry sources have named Danish Vestas as one of the potential investors.

The companies have been looking for sites near ports but the project is still preliminary as investors are waiting for the country to approve clear rules on offshore wind farms.

“We expect important investments to be decided this year by major global players in the offshore wind sector for the manufacturing of wind turbine components and Vietnam,” said Bruno Jaspaert, director of DeepC, an industrial zone in northern Vietnam.