Vietnam, the world’s 11th largest shipbuilder, is likely to gain US$1.7 billion from ship export until 2010, the Ministry of Trade said on its website about export orientations of the country from 2006 to 2010.
Vietnam has injected vast sums of money into developing its shipbuilding industry to build ships for export as well as raise the ratio of locally sourced parts in made-in-Vietnam ships.
The country’s largest shipbuilder Vinashin alone is investing VND20,000 billion (US$1.27 billion) to build new shipyards and upgrading its shipyards to build larger ships for export.
The State-run Vinashin, or Vietnam Shipbuilding Industry Corporation in full, said it needs an investment capital of US$3 billion from now until 2015.
With vast investments, Vinashin expects to increase its annual ship export revenue to US$500 million from 2007, up from US$200 million in 2005 and merely US$23.5 in 2004.
According to Vinashin’s report, this corporation has won US$1.5 billion worth of ship export until 2009, including multi-hundred million US dollar contracts to build nearly twenty 53,000-DWT ships and nine 34,000-DWT ships for UK’s Graig Investments Co.
The main markets for Vietnamese ships in the coming time include Laos, Cambodia, Japan, South Korea, India, Spain, Belgium, the Netherlands, Poland, Italia and Sweden, said the Ministry of Trade.
At present, Vietnam has 60 shipbuilders. However, most of them are under Vinashin.
P.V
Vietnamese
