Vietnam to pour $13.8-billion into seaport system

Vietnam to pour $13.8-billion into seaport system

The government will encourage and create favorable conditions for organizations and enterprises in all economic sectors to invest in seaports.

Vietnam plans to mobilize investment capital from various sources coming from the State budget and private sector for its master plan of seaport development in the 2021-30 period, with a vision to 2050.

Under the plan, which was recently approved by the Prime Minister, the investment capital, estimated at VND313 trillion (nearly US$13.8 billion), will be used to upgrade the seaport system that will meet the requirements of socio-economic development and international integration.

By 2030, the system is expected to have a capacity of handling 1.1-1.4 billion tons of cargo, including 38-47 million TEUs of container cargo and the movement of about 10.1 to 10.3 million passengers.

According to the Ministry of Transport, the funds sourced from the State budget will be invested in public maritime infrastructure and key areas to create spillover effects and attract more investment.

Dinh Vu Port in the northern city of Haiphong. Photo: Dinh Vu Port JSC

By 2050, the country strives to have a systematic and modern seaport system on par with the region and the world, which will meet the demand for cargo throughput with an average growth rate of about 4-4.5% per year.

The government will encourage and create favorable conditions for organizations and enterprises in all economic sectors to invest in seaports. 

In particular, the transport industry will continue to promote the involvement of the private sector in developing seaport infrastructure, as well as implementing solutions to attract investment in the development and maintenance of public infrastructure at seaports.

According to the Ministry of Transport, besides two special seaports of Haiphong and Ba Ria - Vung Tau, four other seaports are planned as potential ones including Thanh Hoa, Danang, Khanh Hoa, and Soc Trang.

Under the plan, research will be conducted on an appropriate port management model to improve the efficiency of investment and operation of seaports and seaport clusters (with priority given to key seaports), as well as finding mechanisms and policies for international gateway ports such as Lach Huyen in the northern city of Haiphong and Cai Mep in the southern province of Ba Ria - Vung Tau, and international transshipment port in Van Phong, Khanh Hoa Province.

According to the master plan approved by the Prime Minister, a railway network will be developed to connect special-class and seaports in the North-South corridor. The master plan also contemplates the construction of wharves for inland waterway vessels in seaport waters as well as a highway system linking special seaports, the national highway grid, and local roads.

The master plan also guides the development of inland ports in economic areas and corridors, with the priority given to planning locations with convenient connections by inland waterway, and sea lanes, as well as highways and railways.

Hanoi Times