Hanoi, March 29 -- As domestic and global demand for new ships continues to rise, Vietnam's shipbuilding industry has significant potential for growth.

Currently ranked seventh in the world, Vietnam accounts for 0.61% of the global shipbuilding market.According to the Vietnam Maritime and Inland Waterways Administration under the Ministry of Construction, by 2030, Vietnam's fleet is expected to expand to 1,750 vessels with a total capacity of 18 million tonnes.

The domestic demand for new shipbuilding is projected to reach 16-41 vessels annually, equivalent to 0.7-0.8 million tonnes per year, including new builds and replacements for aging fleets.

Meanwhile, global demand for new ships is forecast to grow by 3.95% annually, reaching 5,...