Shipbuilding – a strategic pillar of Vietnam’s maritime economy
Sustainable development of the shipbuilding industry. As a country with a long coastline, Vietnam identifies shipbuilding as a foundational industry, playing a critical role in economic development, national defense, and maritime security. Despite facing significant challenges in recent years, the shipbuilding industry has maintained growth momentum and continues to strengthen its market position.
Shipyards under the Vietnam Shipbuilding Industry Corporation (SBIC) are currently performing a “dual mission”: sustaining production while implementing restructuring measures under Resolution No. 220/NQ-CP, aiming to revive the sector and establish large-scale shipbuilding and repair centers.
Maintaining orders amid challenges
In December 2025, the 65,000 DWT bulk carrier Truong Minh 02 was successfully launched by Nam Trieu Shipbuilding Company. This vessel is the second in a series of four large ships fully designed and built by Vietnamese enterprises, highlighting domestic shipbuilding capabilities.
Designed by VISEC and Bluetech (Finland) and constructed under NK (Japan) and VR (Vietnam) classification, the vessel meets the latest international maritime and environmental standards.
High capacity, limited utilization
Vietnam’s shipbuilding system was previously designed with a total capacity of approximately 3.5 million DWT per year. However, over the past five years. Actual output has reached less than 50% of capacity due to financial constraints and outdated technology. Sustainable development of the shipbuilding industry.
Post-restructuring challenges and future prospects
SBIC targets production value of over VND 5.2 trillion in 2026. But financial restructuring procedures continue to limit access to large-scale contracts. Industry leaders emphasize that resolving legacy financial issues and attracting new investors are critical for sustainable development.
With transparent mechanisms, skilled workforce retention, and strategic investment. Vietnam’s shipbuilding industry has strong potential to recover and grow sustainably in alignment with national maritime strategies.
