Economy
Nha Trang's economy relies largely on tourism. In the suburban areas around the city, the shipbuilding industry has developed and contributed significantly to the city's economy. Fishery and services are also important to the city. Khanh Hoa Province in general and Nha Trang is particular are among the largest contributors to Vietnam's annual budget revenues. Lobster farming on the sea is an important industry for the people living in suburb areas of the city. To the south of the city, by Cam Ranh Bay, several industrial parks are under construction and have been partly available for investors. Once the construction of the deep-water port on Van Phong Bay has been completed, this area will become the third important economic zone in the province (besides Nha Trang and Cam Ranh).
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“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
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