River tourism has been oriented as one of the specific tourism products of Ho Chi Minh City since 2014. However, the approaches to the generic product model of river tourism, generally in Vietnam, particularly in Ho Chi Minh City, have been neglected. This study initially analyzes the current status of five foundational elements of the generic tourism product basing on Smith's model (1994) in terms of diversification and intensification. Those elements include tourism resources, services, hospitality, freedom of choice, and visitor engagement. Research results show that, although Ho Chi Minh City has advantages in natural and cultural resource conditions to develop river tourism products, the rest groups of intangible elements, namely service level, hospitality, degree of choices and participations in experiential activities, are still under-invested. The study uses a variety of quantitative and qualitative data collection methods such as visitor questionnaire survey, business representative interviews and field trip to attempt to reach multi-dimensional stakeholders of river tourism system. This work once again affirms the significance of systematically integrated management which enhances visitor-centered interactions. Therefore, destination competitive advantage of Ho Chi Minh City is expected to improve through unique river tourism products in the coming time.