Shipping industry to be developed by 2020

Prime Minister Nguyen Tan Dung recently approved a development plan for Vietnam’s shipping industry for 2020, with a vision for 2030, aiming to ease the transportation burden on roads

Global shipping industry sets sail under new standard Giving a boost to shipping industry development

According to the plan, the majority of imports and exports are to be transported by sea, embedding Vietnam further into the global shipping network and connecting the country to distant destinations, such as Northern Europe or South America.

By 2020, the industry is expected to meet nearly all domestic shipping needs, and provide high quality services and competitive fees.

The objective is to ship 140-152 million tonnes of goods, including 40-46 million tonnes internationally, and have a shipping fleet with a total carrying capacity of 6.84-7.52 million Deadweight Tonnes (DWT).

In the meantime, the industry will run refresher courses for 27,000 officers and crew members and will train 15,000 new recruits.

The development plan will require the investment of VND20-30 trillion (US$1-1.5 billion) by 2020, with the majority of funds being mobilised by businesses themselves.

To ensure a smooth implementation process, Vietnam will streamline administrative procedures in sea ports and the registration process for new ships, apply information technology, such as e-customs in management, and encourage investments in growing the shipping fleet.

The plan also requires the restructuring of the Vietnam National Shipping Lines and the Vietnam Shipbuilding Industry Corporation to be sped up, and an extensive maritime service network to be established to improve the competitiveness of the country’s shipping industry.