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Industry InsightMarch 2025·2 min read

Development opportunities for Vietnam's shipbuilding industry

Vietnam has a long coastline, a favorable geographical location for the development of the shipping and shipbuilding industry, according to the leaders of the Shipbuilding Industry Corporation (SBIC).

Development opportunities for Vietnam's shipbuilding industry

The above information was discussed at the seminar "Green Transformation in the Maritime and Offshore Wind Power Industry - Development Potential in Vietnam", within the framework of the 10th International Exhibition on Shipbuilding Technology and Offshore Engineering (Vietship 2025) organized by the Shipbuilding Industry Corporation (SBIC) in collaboration with Vietnam Shipbuilding Engineering Joint Stock Company (VISEC). The event takes place from March 5-7 in Hanoi.

Speaking at the workshop, Mr. Hoang Hong Giang, Deputy Director of the Vietnam Maritime and Waterways Administration, said that currently, there are 88 shipbuilding enterprises and 411 inland waterway vehicle building establishments across the country. In which, about 120 enterprises build and repair ships with a tonnage of more than 1,000 tons.

According to Mr. Giang, the capacity of building new ships in Vietnam reaches about 3.5 million tons per year. Vietnam's shipbuilding industry ranks 7th in the world, accounting for 0.61% of the global shipbuilding market share. The demand for new shipbuilding in the country by 2030 will be about 95-245 ships (equivalent to 16-41 ships per year), with a total tonnage of 4-5 million tons (including the number of newly built ships and replacement of the old fleet).

In that context, Vietnam, with its long coastline and favorable geographical location, has many competitive advantages in the shipbuilding and shipping industry. Mr. Pham Hoai Chung - Chairman of the Board of Directors of the Shipbuilding Industry Corporation (SBIC), said that Vietnam's demand for shipping is constantly increasing, exporting goods by sea accounts for a large proportion of the total turnover is one of the advantages. Moreover, the government has many supporting policies, including promoting international partner linkages and encouraging infrastructure investment.

Vietnam's shipbuilding industry has built most of the grams of general ships, bulk cargo ships, oil tankers, and car carriers, and built a number of supporting industrial bases to support the shipbuilding industry. At the same time, FDI shipbuilding enterprises have strengths in technology, are developing well, there is still room for investment and expansion of production capacity. The workforce is also young, skilled, easy to train, and competitive labor costs are also a great advantage.

"This is an opportunity for the shipbuilding industry. And Vietship 2025 returns, fulfilling the role of expanding and connecting the shipbuilding industry at home and abroad," said a representative of the organizers.

In addition to the discussion sessions, the 10th International Exhibition on Shipbuilding Technology and Offshore Works also awarded and honored typical products, impressive booths, products and services of good quality of the shipbuilding and offshore construction industry. At the end of the event, the organizers awarded 6 awards for typical ship products, 2 typical supporting industry awards and 4 impressive booth awards.

Through Vietship 2025, businesses and units have signed many cooperation contracts to build and repair ships with a total value of about 60 million USD.