Yachting gains momentum in Vietnam
by Lee Mylchreest on 19 Sep 2010
Vietnam - Ha Long Bay idyllic for cruising SW
Malaysia started upgrading its yachting infrastructure years ago. Then it was China, catering for their rising rich class. India has become very conscious of the yachting scene, with its first marina in Kochi, and just recently their Navy welcomed back the first circumnavigating Indian sailor. Now it's Vietnam who has a new rich class who want to go boating... but it's not so easy yet.
Under current regulations, individuals who buy private yachts or airplanes must pay luxury tax of 30 per cent, import tax of 10 per cent and value added tax of 10 per cent. Most of the luxury yachts so far bought by wealthy people are under 20m (66ft) and are considered to be laying the foundation for larger yacht purchases in the future.
When local actor Diem My bought a yacht recently she was accorded headlines in Vietnam – but life on the ocean waves is not so new for the Vietnamese rich and famous, who are able to go sailing on chartered yachts.
In early February 2009, a made-in-Vietnam yacht named 'King Yacht' was launched in the central coastal city of Nha Trang, Khanh Hoa province. This yacht, 28 metres long began has been serving tourists in May 2009.
It was manufactured locally - by the Nha Trang University’s Institute for Ship Research and Manufacturing - and meets 4-star standards, with restaurants, bars, massage rooms, sunbathing rooms and sauna rooms. The cost for a four to seven hour trip is between $30-35 per visitor. The charge for a double room is $150. However, this is not the first yacht in Vietnam.
In December 2007, a $2 million Sunseeker Manhattan 60 was imported by the Euro Auto company. The name of the owner has not been disclosed but it is said that this yacht belongs to Diem My’s family.
Last December, a yacht named Diamond Island appeared in Nha Trang during the Miss Universe 2008 pageant.
Then there is Nguyen Minh Tuan, a finger nail care magnate who has placed an order with a US yacht-builder for three boats — one of 12.5m (41ft), one 12m (39ft) and one of 10m (33ft). 'I've bought all three for personal use, so I will pay import tax, value added tax and special consumption tax,' Tuan said.
Though the number of yachts in Vietnam is still low, Gordon Hui, managing director of Sunseeker Asia said: 'I believe that after Sunseeker Manhattan 60 is available in Vietnam, many more yachts will appear in Vietnam’s beautiful sea. I’m impressed by the manufacture of wharves for ships and yachts and by the wonderful beaches.'
In recent months a number of new marina projects have also been announced in various locations throughout the country.
In March 2009, Tuan Chau international tourism zone opened the first yacht wharf in Vietnam, which is worth nearly 1 trillion dong ($58.8 million). This wharf can host cruise ships and yachts up to 1,900m long with a depth of 12m. It also includes many entertaining facilities like a bar, a discotheque and a shopping mall.
In another move, the 2010 International Yacht Festival to be held December 8-12 at Mui Ne-Binh Thuan has been announced as a new yachting event in the country. Mai Quoc Viet, general director of the Dan Han Company, says: 'The event is expected to attract 20 yachts from Russia, the Netherlands, Sweden, France, Germany and Italy.
Owing a boat is becoming easier as far as the bureaucracy is concerned. There is a yacht registration process in place, and skippers are obliged to have suitable qualifications. Also, now big insurers like Bao Minh, Bao Viet and PetroVietnam Insurance are ready to insure yachts
Culture, Sports & Tourism Minister Hoang Anh Tuan suggests the festival in December would be a step towards developing an international yachting industry in Vietnam as well as promoting marine tourism both domestically and to foreign visitors.
All of which means that for cruising sailors, the facilities in Vietnam are going to be ever improving and more alluring for yachts wanting to cruise further afield in Asia.
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