The project, operating under the Amiral Cruises brand, will focus on boutique vessels carrying fewer than 100 passengers and targeting mid- and high-end travellers seeking more personalised and culturally immersive experiences.
According to the HCM City Department of Tourism, the investment is aimed at diversifying the city's river tourism products and strengthening its appeal as a regional travel destination.
The cruises will offer sightseeing, dining and cultural experiences along the Saigon River, providing visitors with a different perspective of the city while highlighting southern Vietnam's river heritage.
Routes will connect major attractions including the Cu Chi Tunnels, the Can Gio Biosphere Reserve, Vung Tau, the Mekong Delta and Cambodia.
Pham Ha, founder and chief executive of LuxGroup, said the Saigon River was one of the city's most valuable assets and offered significant potential for tourism development.
"We want to develop tourism products that tell the story of the city's history, culture and identity through the river," he added.
The first phase of the project will introduce a 35-seat high-speed vessel and a 99-passenger boutique cruise operating from Bach Dang Wharf, mainly serving day trips between central HCM City and the Cu Chi Tunnels.
Between 2027 and 2028, the company plans to launch overnight cruises with around 50 cabins on routes linking HCM City with Can Gio, Vung Tau, the Mekong Delta and Cambodia. Future expansion plans include services to Con Dao and other coastal destinations in southern Vietnam.
Tourism officials said HCM City currently offers more than 60 river tourism routes and products, ranging from water buses and speedboats to luxury dinner cruises and overnight vessels.
According to Nguyen Thi Thanh Thao, head of the Tourism Resource Development Planning Division at the city's Department of Tourism, the arrival of higher-end and culture-focused products would help broaden options for visitors, particularly in the mid- and premium-market segments.
She said that river tourism operators were increasingly incorporating local cultural elements into their products, supporting the city's night-time economy strategy and enhancing its appeal to international visitors.
Authorities plan to further develop riverside entertainment, shopping and cultural spaces as part of broader efforts to unlock the tourism potential of the city's waterways and strengthen HCM City's competitiveness as a leading destination in Southeast Asia.