Ho Chi Minh City gives investor approval for transshipment mega-port

Ho Chi Minh City gives investor approval for transshipment mega-port

On April 29, Ho Chi Minh City People’s Committee granted the investor approval decision for Can Gio International Transshipment Port to a consortium comprising Vietnam Maritime Corporation, Saigon Port JSC, and Terminal Investment Limited Holding S.A.

Reprentatives from investors received the investment decision. Photo: Le Toan

Can Gio International Transshipment Port is estimated to require a total investment of nearly VND128.87 trillion (approximately $4.95 billion). The project will span around 570 hectares, with a total main berth length of about 7.5 km.

Designed capacity is expected to reach approximately 4.8 million TEUs by 2030, rising to around 16.9 million TEUs by 2047. By 2050, the project is slated to develop about 13 berths, capable of accommodating vessels of up to 250,000 DWT or larger, subject to conditions.

The investors plan to contribute about $222.6 million by 2030 and an additional $521 million) in line with the implementation schedule, with completion targeted within 20 years from the date of land and water area handover. The project will have an operating term of 50 years and is eligible for investment incentives in accordance with prevailing regulations.

Speaking at the ceremony, Nguyen Le Chon Tam, general director of Saigon Port JSC, described the approval as a milestone event, marking the culmination of months of persistence.

“This decision is not merely a legal document, but a historic mission and a vote of confidence entrusted by the State and the city to maritime enterprises, empowering us to unlock marine potential and pursue global ambitions,” Tam said.

According to Tam, the Can Gio Port project holds a strategic position along international shipping routes, with a designed capacity of nearly 17 million TEUs, serving as a critical gateway for Vietnam to integrate more deeply into global logistics ecosystems and supply chains.

“We fully recognise the role of state-owned enterprises in leading and shaping national value creation,” he noted, adding that the venture represents a combination of domestic capabilities and international expertise.

VIMC and Saigon Port are among Vietnam’s leading operators in port exploitation and maritime transport. Meanwhile, MSC Group stands as a particularly important strategic partner. As the world’s largest shipping line, MSC brings strong financial capacity and an extensive global network, helping to place Vietnam firmly on the global maritime map.

“If Vietnam is likened to a vessel heading out to the open sea, then Ho Chi Minh City is its most dynamic economic engine. Can Gio Port will serve as a pioneering vessel, enabling the country to sail further and more steadily on its international journey,” Tam said.

VIR