The Da Nang People's Committee has just issued Plan No. 188/KH-UBND dated September 6, 2024 on implementing the project "Developing yacht-related industry and services in the city". Accordingly, the city sets a target that the yacht-related industry and services will contribute 2-3% to the city's GRDP (Gross Regional Domestic Product) by 2030.

The city has identified the development of industry and services related to yachts as one of its priority industrial sectors. IN PHOTO: A cruise ship docks at the Tien Sa Port. Photo: P.V

Large potential for exploitation

Da Nang is blessed with favourable natural conditions such as rich and diverse terrain with mountains, rivers, seas and Son Tra Peninsula. It is one of the important gateways to the sea from the Central Highlands, Laos, Cambodia, Thailand, Myanmar and Northeast Asian countries through the East-West Economic Corridor with the ending point being the Tien Sa Seaport.

The city has an advantageous river system and deep-water bays with Tien Sa seaport, and a continental shelf with a depth of 200m, forming a large shallow water belt suitable for the development of a comprehensive marine economy and foreign exchanges.

In addition, it has a coastline of about 74km with many beaches such as Non Nuoc, My Khe, Nam O, and Lang Van, along with amazing natural scenery of great value for tourism development.

Therefore, the development of industry and services related to yachts is identified by the city as one of the priority industrial sectors, which is also mentioned in Prime Minister-issued Decision No. 1287/QD-TTg dated November 2, 2023 regarding approving the Da Nang Master Plan for the 2021-2030 period, with a vision to 2050.

In order to specify the requirements, on May 8, 2024, the municipal People's Committee issued Decision No. 952/QD-UBND approving the research results of the aforementioned project. Accordingly, along with tourism, yachts will become a new direction in the development of sea and inland waterway tourism in the city.

Pursuant to Decision No. 952/QD-UBND, Plan No. 188/KH-UBND sets out some specific targets. In particular, by 2030, yacht-related industry and services will contribute 2-3% to the city's total GRDP, of which services will contribute 1.5-2.3% and industry will contribute 0.5-0.7%. By 2050, yacht-related industry and services will contribute 4-5% to the city's total GRDP.

Notably, Da Nang will become one of the priority destinations in international tourism itineraries in the Asian region, creating a driving force for domestic and international yacht development.

In addition, the city will promote the exploitation of inland waterway yachts on the Han, Cu De and Co Co rivers, and Da Nang Bay waters, as well as stably tap routes from the shore to Cham and Ly Son islands.

The yacht building industry is one of the key sectors of the yacht-related industry and services. IN PHOTO: Production activities at the Song Thu shipyard of Song Thu Corporation - LLC. Photo: M.Q

8 development solutions

According to the plan, the city will lay an emphasis on yacht building industry, yacht support industry, and yacht maintenance and repair services.

By 2030, small and medium-sized yacht builders in the city will be able to build 20-30 yachts/year. The yacht support industry will develop in the Hi-Tech Park and Industrial Parks. Yacht maintenance and repair services will develop at marinas with sufficient land funds; and land and water areas of the Tien Sa Seaport, in which the yacht-related service supply complex is expected to develop in Cam Le District.

The city has also identified 33 locations where yacht marinas can be developed, most of which are located in Son Tra and Ngu Hanh Son districts.

To effectively implement the plan, the city sets out 8 solutions: State management related to yacht exploitation; capital sources, investment attraction and investor selection; human resource development; market development and promotion; national security and defence; environmental protection; linkage with neighbouring provinces and cities, and localities with yacht development; research and application of science and technology.

Specifically, the city will encourage existing enterprises to form, transform, and improve services to participate in the yacht-related logistics value chain. It will issue mechanisms and policies to encourage enterprises in the Hi-Tech Park and industrial parks to participate in the yacht industry and service chain.

Also, importance will be attached to speeding up infrastructure investment, increasing investment promotion, and developing tourism linkage programmes, as well as boosting the application of science and technology to serve the management of yacht activities.

The municipal People's Committee has assigned the Department of Industry and Trade and the Department of Tourism to coordinate with relevant units to implement Plan No. 188/KH-UBND.

The authorities at district level shall preside over and coordinate with relevant departments and agencies to organise and enhance the operational efficiency of the Bach Dang walking street, specialised streets, and nighttime markets along the Han River, coastal routes of Hoang Sa, Vo Nguyen Giap and Nguyen Tat Thanh, and marina areas in the city.

Reporting by MINH LE - Translating by M.DUNG