Under a draft plan drafted by the Transport and Development Strategy Institute, Danang will have 19 yacht development-related projects in the 2022-2030 period with a vision until 2045.
British billionaire Joe Lewis's Aviva yacht arrived in Danang in 2019 (photo by Investment Newspaper)
The VND6.85 trillion (US295.25 million) projects will be funded from private sources and will prioritise the building of yachts priced at VND10-20 billion (USD431,034-862,068) each.
The projects include yacht building and shipyards and international marinas along with related services such as tourism.
Danang is expected to earn annual revenues of VND1 trillion (USD43 million) from the yacht-related industries by 2030.
Nguyen Duc Thuan, general director of Vietyacht, said that Danang boasted big potential for yachting services. Some yacht-makers producers are looking for business markets in Asia, which is a great opportunity for Danang. However, Danang should consider simplifying investment procedures for firms, particularly given the global yachting industry is facing too many orders until 2027 due to the impact of the Covid-19 pandemic.
At the seminar, vice chairman of the Danang People’s Committee Tran Phuoc Son, said that the yacht industry is expected to make a considerable contribution to the city’s socio-economic development by 2030.
The city will continue to gather the views from different experts and agencies for the draft plan for the yatch industry development.
