HCM City breaks ground on $261m port project to boost southern logistics

HCM City breaks ground on $261m port project to boost southern logistics

HCM City on Sunday broke ground on a new international port project worth nearly VNĐ6.9 trillion (US$261 million) as Việt Nam's largest economic hub seeks to expand logistics capacity and strengthen maritime connectivity across the country's southern growth corridor.

An artist’s impression of the QTM International Port project in Phú Mỹ Ward, HCM City. — Photo courtesy of QTM

The QTM International Port project, located in Phú Mỹ Ward within the Cái Mép-Thị Vải deep-water port complex, will have a designed annual handling capacity of 16 million tonnes and cover more than 80 hectares.

The project, to be developed in two phases from 2026 to 2034, will include an integrated warehousing and logistics centre spanning nearly 200,000 square metres.

Once completed, the port will comprise eight berths capable of receiving vessels of up to 60,000 deadweight tonnes (DWT), with plans to accommodate ships of up to 100,000 DWT.

The investment comes as HCM City moves to expand transport and logistics infrastructure following the recent merger of three localities, which authorities say has significantly increased demand for the movement of goods and raw materials.

Speaking at the ceremony, Hoàng Nguyên Dinh, vice chairman of the HCM City People's Committee, said: "Demand for cargo transport has risen sharply after the merger, requiring the city to continue developing a modern and integrated logistics network with regional and international connectivity."

Cargo volumes transported by sea and inland waterways in HCM City increased by 7.3 per cent in the first six months of this year, according to city authorities.

Also speaking at the event, Phạm Gia Túc, deputy Prime Minister, said logistics costs currently accounted for between 14 and 16 per cent of Việt Nam's gross domestic product, underscoring the need to develop modern port infrastructure to reduce costs and improve the competitiveness of Vietnamese exports.

Túc called on the project's developers to accelerate construction and put the first phase into operation within the next 11 months, supporting HCM City's target of achieving double-digit economic growth.

HCM City has around 110 kilometres of coastline and hosts one of Việt Nam's largest maritime transport systems.

The Cái Mép-Thị Vải deep-water port complex is among the world's major container port hubs and provides direct shipping connections to Trans-Pacific and European trade routes.

Bizhub