PM approves action plan to boost shipbuilding

Decision 1901/QD-TTg aims to implement Vietnam ’s industrialisation strategy as part of the cooperation framework with Japan until 2020, with a vision towards 2030.

An emphasis will be placed on improving infrastructure and human resources, developing support industries, ship repair services, and exports, as well as building capacity for research and development (R&D).

During the last quarter of this year, the Ministry of Transport aims to generate funds to support the industry in 2015-2020 and establish strategic partnerships between prospective investors and shipbuilders.

In addition to setting up a R&D centre, the ministry will concentrate on building vessels that are domestically and globally competitive in an effort to stimulate the support industries.

In the same period, the Ministry of Finance will review tax incentives for imported materials and spare parts, and propose a list of beneficiaries in line with the tariff reduction roadmap for the ASEAN Free Trade Area (AFTA) and the World Trade Organisation (WTO).

The ministry will also work harder to simplify administrative and customs procedures.

Vietnam currently has 120 shipyards that build different types of ships, with the lowest capacity of 1,000 DWT, which provides an important technical basis for the expansion of the entire industry.