The World Bank has been the main source of Vietnam’s IWT investment finance for more than a decade, but investment needs remain large and future sources of finance will need to be diversified. This report, prepared by a World Bank team, examines the current regulatory framework, institutional structure, and funding framework for IWT. The report suggests measures to strengthen infrastructure, regulatory, management, and the funding framework. Taken together, these measures would improve the enabling environment for the IWT industry and contribute to its development. The scope of the report does not include physical planning or specific project prioritization for infrastructure development. MoT’s own physical masterplan for the industry has been recently comprehensively updated and is now under consideration by the government.