Solidiance partnered with Vietnam Green Building Council to produce a newly released white paper on Vietnam’s Green Building industry. The white paper reveals that the green building sector in Vietnam is still at an early stage of development, primarily as a result of cost sensitivities, low electricity prices, short-term thinking and misaligned incentives between building developers and users, an underdeveloped regulatory market, and a limited supply of skilled employees with green building awareness. However, with the advent of the locally-tailored green building standards known as LOTUS, moves towards market-based electricity pricing, and global corporate guidelines requiring green practices, the market is seeing tentative signs of awakening.
This white paper mainly elaborates the market overview and opportunity currently existing in the country, hindrances behind the industry’s current developmental stage, as well as analyzes how the industrial players (both MNCs and locals) in the country are responding to the regulatory framework pertaining to the green goals. It also discloses other comprehensive insights i.e. the possible strategies to develop the industry from its infancy, SWOT analysis, available opportunities and potential future of the industry, different adoption of the existing green certification, etc. This paper aims to answer the question of whether there will actually be a future for the green buildings industry in Vietnam despite their current lagging.