Rewriting Vietnam’s Maritime Law: The Breakthrough Needed for a New “Yacht Economy”
Dr. Pham Ha – Founding President & CEO, LuxGroup®
Why Every Maritime Nation Has a Yacht Economy — And Why Vietnam Cannot Afford to Wait
In the global maritime landscape, yachting is no longer a playground for the ultra-wealthy. It has evolved into a sophisticated economic engine that integrates maritime transportation, luxury tourism, creative industries, and national branding. Countries like Thailand, Singapore, Croatia, and Greece have all capitalized on this sector, transforming yachting into a fast-growing pillar of their coastal economies.
Vietnam possesses extraordinary natural advantages:
3,260 km of coastline, 4,000 islands, 112 river mouths, and dense networks of bays, estuaries, and waterways.
Yet, despite this natural wealth, Vietnam has no legal framework dedicated to yachts or luxury cruising. As a result, the country is standing outside a global market valued in the hundreds of billions of dollars — and growing at double-digit rates in the Asia-Pacific.
The upcoming amendment to the Vietnam Maritime Code is therefore more than a regulatory exercise. It is a strategic moment: either Vietnam steps into the global yacht economy, or continues to miss a once-in-a-generation opportunity.
The Root Problem: Yachts Are Being Treated as Cargo Ships
Today, Vietnam manages yachts under the same regime as cargo or transport vessels. That means burdensome registration, complex classifications, heavy technical requirements, and crew standards entirely misaligned with the nature of luxury tourism.
But yachts are fundamentally different:
• They operate in restricted waters.
• They serve leisure, hospitality, culture, and experiences.
• They require aesthetic standards, safety protocols, and guest services — not the industrial requirements of freight vessels.
This outdated approach is not only slowing growth — it is unintentionally blocking an emerging industry.
Six Strategic Recommendations to Unlock Vietnam’s Yacht Economy
1. Recognize Yachts as a Distinct Category of Civil Maritime Activity
Vietnam should introduce a dedicated chapter on “Tourist Vessels and Yachts” in the amended Maritime Code.
► A clear legal foundation is the first step toward building a real industry.
2. Position the Yacht Economy as a Priority Sector of Vietnam’s Maritime Strategy
Yachting is not simply a luxury service — it is a multi-sector economy:
• Vessel manufacturing and maintenance
• Marina development
• Hospitality and gastronomy
• Arts, culture, and events
• High-value tourism and national branding
Vietnam can attract new types of tourists and new flows of investment capital.
3. Build a National Network of Dedicated Yacht Marinas
No country develops a yacht economy without proper marinas.
Vietnam needs a connected system of modern yacht ports:
Ha Long – Cat Ba – Hue – Da Nang – Nha Trang – Phu Quoc – Ho Chi Minh City – Cu Chi.
These cannot be fishing ports or cargo terminals — they must be purpose-built marinas designed for safety, aesthetics, and guest experience.
4. Embrace ESG and Green Yachting as a National Standard
LuxGroup® is the first Vietnamese cruise group to achieve Travelife Certified, implementing over 250 ESG criteria and targeting Net Zero 2030.
Vietnam should go further by encouraging:
• Hybrid, electric, and solar-powered yachts
• Green marinas
• Floating museums, art cruises, and heritage voyages (as pioneered by Heritage Cruises Binh Chuan®)
Sustainability must be built into the very DNA of the yacht economy.
5. Invest in Human Capital — The Missing Link
Vietnam lacks internationally certified captains, engineers, hospitality managers, and yacht crew.
The solution:
• Establish a specialized training framework for tourist vessels
• Recognize international standards (STCW, MLC)
• Allow pioneers like Lux Cruises Group® to become national training hubs
Human capital will determine whether Vietnam can truly compete.
6. Vietnam Waterways® — A National Brand for 2045
If Vietnam Airlines represents the nation in the skies, Vietnam now needs Vietnam Waterways® to represent the nation on the water.
More than a brand, it is:
• A symbol of Vietnam’s maritime identity
• A cultural ambassador
• A national commitment to become a maritime lifestyle destination in Asia
By 2045 — the 100th anniversary of modern Vietnam — the country can and should stand among Asia’s leading yachting nations.
Final Word: Policy Is the Engine, Business Is the Sail — and Vietnam’s Blue Horizon Awaits
A truly maritime nation is not defined only by cargo ports and shipping lines.
It is defined by how it transforms its maritime culture into economic and national value.
Reforming the Maritime Code is the catalyst for:
• A new industry
• New jobs
• New investment
• A new global identity for Vietnam
For two decades, LuxGroup® has demonstrated that yachting is not merely a luxury product — it is an economy of emotion, culture, creativity, and national pride.
As I often say when speaking about Vietnam Waterways®:
“Luxury is Culture – Delivering Happiness.”
With the right legal framework, Vietnam can confidently set a new course:
to become a leading yachting hub of Asia by 2045.