The shipbuilding industry in Thanh Hoa Province, Vietnam, is transforming and progressing with the implementation of a major project worth 250 billion Vietnamese Dong (VND). This project, due to its natural advantages, including 120 kilometers of coastline and the deep-water port of Nghi Son, has provided a suitable foundation for the development of this industry as one of the key components of the province's marine economy.
New Shipbuilding Contracts
In the past period, this company has signed 14 contracts for the construction of new ships with a tonnage of 2,200 to 3,500 tons with clients from the cities of Hai Phong, Nam Dinh, and Thanh Hoa. Specifically, by October 2026, this company is in the process of building 10 new ships with a tonnage of 2,500 to 4,500 tons, with a total contract value of approximately 350 billion Vietnamese Dong.
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Increase in Revenue and Employment
These figures indicate that the market has provided this company with space for production expansion. The company's revenue has increased from 62 billion Vietnamese Dong in 2023 to 138 billion Vietnamese Dong in 2025, and it is expected to reach approximately 250 billion Vietnamese Dong by 2026. Currently, this company has nearly 200 employees and is one of the first units in Thanh Hoa Province to build ships with a tonnage of 4,500 tons.
Planning for a Larger Production Space
This company plans to establish a new and larger production space that also includes repair services. This initiative, due to its connection with the needs of domestic water transport and marine activities in the region, can help create jobs and sustainable income for this industry.
Outlook for the Development of the Shipbuilding Industry
According to the revised planning of Thanh Hoa Province for the period 2021-2030, the Nghi Son – Le Mon area has been identified as a region for the development of industrial shipbuilding and ship repair. This model will gradually become an essential part of the province's industrial and marine service space.
The port development plan aims for the cargo volume at Thanh Hoa ports to reach approximately 71.65 to 86.15 million tons by 2030. With the increase in cargo volume, the demand for maritime and domestic water transport will also improve.
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