Hanoi: As domestic and global demand for new ships continues to rise, Vietnam’s shipbuilding industry has significant potential for growth. Currently ranked seventh in the world, Vietnam accounts for 0.61% of the global shipbuilding market. With a domestic shipbuilding capacity of approximately 3.5 million tonnes per year, Vietnam has the potential to participate more actively in the international market.

According to Vietnam News Agency, the country’s shipbuilding industry is poised for expansion given the increasing demand. The current ranking and market share highlight Vietnam’s emerging role in the global shipbuilding sector, providing a platform for further development and international collaboration.

Vietnam’s shipbuilding capacity suggests there is ample room for growth and the opportunity to increase its share in the global market. As the industry expands, it could contribute significantly to the national economy and create numerous job opportunities, enhancing the country’s maritime capabilities.