Ba Ria-Vung Tau partners with UAE firm to develop Vietnam's first free trade zone
Ba Ria-Vung Tau partners with UAE firm to develop Vietnam's first free trade zone
Ba Ria-Vung Tau Province in southern Vietnam has entered a strategic partnership with global logistics leader DP World, based in the United Arab Emirates (UAE), to develop Vietnam’s first free trade zone associated with seaports in the Cai Mep Ha area.
A corner of Cai Mep-Thi Vai Port in Ba Ria-Vung Tau Province, southern Vietnam. Photo: Dong Ha / Tuoi Tre |
The two sides signed a memorandum of understanding at the headquarters of the provincial administration on Tuesday.
The initiative aligns with the directives of the Politburo’s resolution and the government's action program on socio-economic development, national defense, and security for the southeast region until 2030, with a vision to 2045.
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| Ba Ria-Vung Tau Province signs a memorandum of understanding with the UAE’s DP World to develop a free trade zone in the Cai Mep Ha area on February 18, 2025. Photo: Dong Ha / Tuoi Tre |
Nguyen Van Tho, chairman of the Ba Ria-Vung Tau People's Committee, emphasized that the deal marked a key milestone in provincial development, not only initiating cooperation with DP World but also strengthening ties between Vietnam and the UAE.
He highlighted that DP World’s global reputation and expertise in logistics and seaport operations make the company an ideal strategic partner for the province.
Glen Hilton, CEO of DP World for the Asia-Pacific region, affirmed that Ba Ria-Vung Tau Province possesses vast potential in port services and logistics.
Hilton believed that DP World could leverage its extensive experience and global capabilities to unlock the province’s full potential, creating a prosperous economic center.
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| Cai Mep-Thi Vai Port in Ba Ria-Vung Tau Province, southern Vietnam. Photo: Dong Ha / Tuoi Tre |
Several experts said that the planned free trade zone would take full advantage of the strategic location in the Cai Mep Ha area, boosting logistics and seaport industry, and increasing Vietnam's international trade capacity.
The project is also expected to attract a substantial influx of foreign investors.
DP World manages and runs around 20 free trade zones associated with seaport facilities, operating in 170 countries worldwide.
DP World is running the Jebel Ali Free Zone, at the world-renowned Jebel Ali Port in Dubai, one of the most successful and efficient free trade zones globally.
