From Emerging Market to Global Hub: Vietnam’s Maritime Rise

In 2024, Vietnam’s maritime industry recorded strong growth, with total cargo throughput reaching 864.4 million tons, a 14% increase from 2023. Container throughput reached 29.9 million TEUs (+21%), while the number of vessels passing through ports hit 102,670 (+2%), and inland waterway transport increased by 8%. Notably, the Cai Mep port cluster ranked among the world’s top 7 in operational efficiency, while Hai Phong Port ranked 70th, according to World Bank & S&P Global rankings.

Despite these achievements, the industry faces major infrastructure challenges, particularly in dredging waterways to accommodate larger vessels. Vietnam’s container throughput has already reached 30 million TEUs, surpassing projections made a decade ago. However, limited funding for infrastructure upgrades has hindered the country’s ability to keep up with rapid growth.

To address these issues, Vietnam is focusing on deep-sea port development, with the most prominent project being the Can Gio International Transshipment Port. This port is expected to help Vietnam surpass Singapore and become a major regional transshipment hub, reducing dependence on foreign ports and increasing the competitiveness of Vietnamese exports.

In parallel with infrastructure upgrades, Vietnam is also expanding its national shipping fleet, partnering with major global shipping lines to enable direct exports without transshipment. The government is pushing for “open port” models, digital transformation, and expanding international shipping agreements to strengthen Vietnam’s position in the global supply chain.

With its current growth trajectory, significant investments in infrastructure, and strong government support, Vietnam’s maritime industry is on the brink of a breakthrough, positioning itself as one of the leading logistics hubs in Asia and enhancing its standing on the global maritime map.