HÀ NỘI — As domestic and global demand for new ships continues to rise, Việt Nam's shipbuilding industry has significant potential for growth.

Currently ranked seventh in the world, Việt Nam accounts for 0.61 per cent of the global shipbuilding market.

According to the Việt Nam Maritime and Inland Waterways Administration under the Ministry of Construction, by 2030, Việt Nam's fleet is expected to expand to 1,750 vessels with a total capacity of 18 million tonnes.

The domestic demand for new shipbuilding is projected to reach 16-41 vessels annually, equivalent to 0.7-0.8 million tonnes per year, including new builds and replacements for ageing fleets.

Meanwhile, global demand for new ships is forecast to grow by 3.95 per cent annually, reaching 5,284 vessels per year with a total capacity of 311.2 million tonnes.

With a domestic shipbuilding capacity of approximately 3.5 million tonnes per year, Việt Nam has the potential to participate more actively in the international market.

Hoàng Hồng Giang, deputy director of the Việt Nam Maritime and Inland Waterways Administration, estimated that by 2030, Việt Nam's shipbuilding industry could produce 2.7-2.8 million tonnes of vessels annually for export, capturing 0.88-0.9 per cent of the global market.

Currently, Việt Nam has 88 shipbuilding enterprises and 411 inland waterway vessel production facilities, with about 120 companies specialising in shipbuilding and repair of vessels over 1,000 tonnes.

The nation’s capacity for new cargo ship construction is around 3.5 million tonnes per year, including vessels exceeding 5,000 DWT. In addition to commercial vessels, Việt Nam also builds tugboats, patrol boats, rescue ships, high-speed aluminum hull vessels, and service ships for both domestic and export markets.

Despite these opportunities, Việt Nam’s shipbuilding industry faces challenges, particularly in adapting to green energy transition and carbon emission reduction requirements. Many shipyards lack the necessary infrastructure and resources to manufacture environmentally friendly ships.

Besides, there are no clear tax incentives or financial support policies to aid in the transition to green energy.

According to Phạm Hoài Chung, chairman of the Shipbuilding Industry Corporation (SBIC), the shift toward green energy and alternative fuels is significantly impacting the shipbuilding industry.

Furthermore, Việt Nam's shipbuilding sector has primarily developed through assembly and processing, limiting its ability to add high value. Many shipyards operate with outdated infrastructure and technology, reducing their competitiveness in the international market. A lack of investment in technology upgrades and design capabilities also hinders the industry's ability to develop market-adaptive prototype vessels.

Despite these challenges, the shipbuilding industry remains well-positioned to benefit from increasing global maritime transport demand. Việt Nam’s export sector relies heavily on seaborne transportation, and the shipbuilding industry has successfully constructed a wide range of commercial vessels, including bulk carriers, oil tankers, and car carriers. Some supporting industries for shipbuilding have also begun to develop.

Foreign investment in Việt Nam’s shipbuilding sector is increasing, particularly from technologically advanced countries, offering valuable opportunities for knowledge transfer and capacity building. This collaboration allows domestic shipbuilders to improve their expertise and integrate new technologies into their operations.

Chung said to capitalise on this, the sector must leverage its strategic location, competitive labour costs, and ongoing foreign investment and technology transfer.

The Việt Nam Maritime Corporation (VIMC) was also prioritising fleet modernisation, including new shipbuilding projects.

Hoàng Long, head of the VIMC’s Transport Department, acknowledged that the company had collaborated with the SBIC on specialised vessels such as container ships and bulk carriers to enhance its competitiveness and investment efficiency.

The shipbuilding industry was considered a priority sector for investment, with various tax and land-use incentives outlined in national regulations. Moving forward, authorities would review existing policies to ensure alignment with economic development strategies and maritime growth objectives.

Deputy Minister of Construction Nguyễn Xuân Sang emphasised the importance of the shipbuilding industry in supporting Việt Nam’s economic goals. With the National Assembly targeting an 8 per cent GDP growth rate by 2025, all economic sectors, including maritime and shipbuilding, must contribute to this target. Sustainable development in shipbuilding would also help Việt Nam fulfil its commitments to net-zero emissions by 2050.

By 2030, marine-based industries are expected to contribute approximately 10 per cent of GDP, while coastal provinces should account for 65-70 per cent of national GDP. Economic activities related to the sea will follow international sustainability standards, ensuring responsible resource management.

With increasing global demand, growing foreign investment, and strategic policy support, Việt Nam’s shipbuilding industry is well-positioned for significant expansion and modernisation in the coming years. — VNS