Experts call for full steam ahead on HCMC transshipment port project

By Phan Lam
Sat, May 13, 2023 | 7:35 pm GMT+7

Ho Chi Minh City, Vietnam’s southern economic hub, should push ahead with its planned $5.5 billion Can Gio transshipment port to drive regional growth, heard a workshop on Friday.

Participants told the event that the international port in the outlying district of Can Gio is vital in the current context, so the city should consider assigning experienced businesses to participate in the investment process and later operations.

An artist’s impression of the Can Gio transshipment port project in Ho Chi Minh City, southern Vietnam. Photo courtesy of Portcoast Consultant Corporation.

An artist’s impression of the Can Gio transshipment port project in Ho Chi Minh City, southern Vietnam. Photo courtesy of Portcoast Consultant Corporation.

The major project is expected to bring breakthroughs to the entire HCMC region, and delays could mean missing opportunities, said economic expert Tran Du Lich, a member of in the government's advisory group.

It will support regional growth because by enhancing the competitive advantages of the southeastern region and Vietnam, while not competing with the Cai Mep-Thi Vai seaport cluster in nearby Ba Ria-Vung Tau province, but instead complementing the system, said Lich.

The southeastern region comprises of HCMC and the provinces of Dong Nai, Binh Duong, Ba Ria-Vung Tau, Binh Phuoc, and Tay Ninh.

An important part of the ambitious project is protecting the environment, as Can Gio district, home to the Can Gio Mangrove Biosphere Reserve, is considered “the green lung” of HCMC, Lich stressed.

HCMC Customs director Dinh Ngoc Thang said that it is estimated that the project, once complete, will help cut logistics costs for Vietnam, which does not have an international transshipment port.

Vietnam Logistics Business Association chairman Le Duy Hiep said the project is a suitable model in Southeast Asia. It will help build the container fleet in Vietnam, and lead to the establishment of a coastal urban area in Can Gio together with future major logistics centers.

Hiep noted that to become an international transshipment port like Singapore, the project needs modern infrastructure and technology, not to mention appropriate mechanisms and policies.

The HCMC-based Portcoast Consultant Corporation is in charge of the project's planning. Its CEO Pham Anh Tuan said the proposed site is in the transition zone of Can Gio Mangrove Biosphere Reserve; it is uninhabited, and will not affect the reserve’s core zone. The port will mainly use green technology and clean electricity.

According to the plan, there will be seven development phases, with the first expected to be completed in 2027. The final phase is set for completion in 2045. The whole project will also include the construction of a new road running to HCMC’s downtown area and a new bridge over the Long Tau River.

Tuan also said the city has approved its logistics development strategy with seven logistics centers to connect with the port. He added the new connecting road will have minimal impacts on the biosphere reserve.

HCMC Vice Chairman Bui Xuan Cuong told the workshop that Can Gio district offers adequate conditions to house an international transshipment port. He said he had asked the city's Department of Transport and relevant stakeholders to complete planning this May, giving priority to environmental protection.

Comments (0)
  • Read More
Vietnam one of the most dynamic, important pharma markets in Southeast Asia: Sandoz exec

Vietnam one of the most dynamic, important pharma markets in Southeast Asia: Sandoz exec

Vietnam is one of the most dynamic and important pharma markets in Southeast Asia, and Sandoz, a Switzerland-headquatered global leader in generic and biosimilar medicines, has decided to invest massively in the country, said Charaf Eddine Kadri, general director of Sandoz Vietnam.

Executive Talk - Mon, December 23, 2024 | 8:36 am GMT+7

Noi Bai, Tan Son Nhat airport terminals to be completed in 2025: investor ACV

Noi Bai, Tan Son Nhat airport terminals to be completed in 2025: investor ACV

The T3 passenger terminal at Tan Son Nhat International Airport in Ho Chi Minh City will be completed by April 30, 2025, two months ahead of schedule, while the expansion of the T2 passenger terminal at Noi Bai International Airport in Hanoi is slated for completion next year.

Infrastructure - Mon, December 23, 2024 | 8:23 am GMT+7

Vietnam’s benchmark VN-Index to reach 1,400-1,420 points in 2025: broker

Vietnam’s benchmark VN-Index to reach 1,400-1,420 points in 2025: broker

The VN-Index, representing the Ho Chi Minh Stock Exchange (HoSE), may hit 1,400-1,420 points in 2025, driven by an 18% market-wide profit growth and a price-to-earnings (P/E) ratio of 12.5-13x, according to broker MBBank Securities (MBS).

Finance - Sun, December 22, 2024 | 7:52 pm GMT+7

HCMC's first metro line officially operational after nearly 2 decades

HCMC's first metro line officially operational after nearly 2 decades

The first urban railway line in Ho Chi Minh City, named Ben Thanh-Suoi Tien, officially started commercial operations on Sunday after nearly two decades of waiting.

Infrastructure - Sun, December 22, 2024 | 2:17 pm GMT+7

Vietnam's 2025 GDP to grow 6.5% on robust infrastructure investment, consumer spending recovery: VinaCapital

Vietnam's 2025 GDP to grow 6.5% on robust infrastructure investment, consumer spending recovery: VinaCapital

Domestic factors, including a ramp-up in Government infrastructure spending, a revival of the real estate market, and a recovery of consumer spending, will help sustain Vietnam's GDP growth at a circa 6.5% pace next year, in-line with the National Assembly’s official target and with 2024 GDP growth, write Michael Kokalari, chief economist at VinaCapital.

Consulting - Sun, December 22, 2024 | 2:00 pm GMT+7

Vietnam shipping, seaport stock rally driven by rosy outlook in 2025

Vietnam shipping, seaport stock rally driven by rosy outlook in 2025

Many shipping and port stocks have risen sharply since November on an optimistic outlook for the industry driven by increasing throughput and a shift in container shipping alliances in 2025.

Companies - Sun, December 22, 2024 | 10:00 am GMT+7

Singapore’s Platinum Victory seeks to raise stake in Vietnam’s REE to nearly 45%

Singapore’s Platinum Victory seeks to raise stake in Vietnam’s REE to nearly 45%

Singaporean fund Platinum Victory Pte. Ltd. has registered to buy another 16.8 million shares in Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (REE), aiming to increase its ownership to nearly 45%.

Finance - Sun, December 22, 2024 | 9:29 am GMT+7

1.8 km road connecting Lach Huyen Port terminals to be built in northern Vietnam

1.8 km road connecting Lach Huyen Port terminals to be built in northern Vietnam

The Hai Phong Economic Zone Management Board has taken a significant step forward in enhancing infrastructure around Lach Huyen Port by establishing a council to appraise the environmental impact assessment for the road connecting terminals No. 3 to No. 6.

Economy - Sun, December 22, 2024 | 8:00 am GMT+7

Hanoi TikToker internationally wanted for involving in multi-billion-dollar scam

Hanoi TikToker internationally wanted for involving in multi-billion-dollar scam

Hanoi police have issued an international arrest warrant for Le Khac Ngo, known as "Mr. Hunter," a key accomplice in a recently-dismantled massive foreign exchange and securities fraud ring.

Society - Sat, December 21, 2024 | 10:57 pm GMT+7

Unlocking Phu Quoc’s potential to become the 'Hawaii of the East'

Unlocking Phu Quoc’s potential to become the 'Hawaii of the East'

Leading global tourism companies have remarked that Phu Quoc has "yet to receive the recognition it deserves," despite its impressive and unexpected growth rate.

Travel - Sat, December 21, 2024 | 7:20 pm GMT+7

Thai central bank maintains policy interest rate at 2.25%

Thai central bank maintains policy interest rate at 2.25%

The Thai Chamber of Commerce (TCC) has said it backs the decision by the Bank of Thailand, the country's central bank, to maintain the policy interest rate at 2.25%, considering the move as suitable for a reviving economy.

Southeast Asia - Sat, December 21, 2024 | 5:43 pm GMT+7

Vietnam's military-run tech giant Viettel strikes big deals at international defence expo

Vietnam's military-run tech giant Viettel strikes big deals at international defence expo

Subsidiaries of Military Industry and Telecommunications Group (Viettel) signed a string of significant contracts with major global partners during the first two days of the Vietnam International Defence Expo 2024 in Hanoi.

Companies - Sat, December 21, 2024 | 5:36 pm GMT+7

Taiwan’s Wistron acquires 37ha land lot in northern Vietnam for expansion

Taiwan’s Wistron acquires 37ha land lot in northern Vietnam for expansion

Taiwan-headquartered Wistron, a top electronics provider and an Apple supplier, will further its investment in Vietnam’s northern province of Ha Nam by acquiring another 37.1-hectare land lot.

Companies - Sat, December 21, 2024 | 2:08 pm GMT+7

VAFIE seeks to promote sci-tech development, intellectual property policies

VAFIE seeks to promote sci-tech development, intellectual property policies

The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) aims to enhance policies for the development of science, technology, and intellectual property, creating a more conducive investment environment.

Companies - Sat, December 21, 2024 | 1:59 pm GMT+7

Vietnamese dong likely to depreciate 3% in 2025: VinaCapital

Vietnamese dong likely to depreciate 3% in 2025: VinaCapital

The Vietnamese dong is likely to depreciate 3% in 2025 on anticipation that the US Dollar/DXY Index will finish 2025 nearly unchanged, says Michael Kokalari, chief economist at Vietnam's leading fund manager VinaCapital.

Economy - Sat, December 21, 2024 | 11:23 am GMT+7

First luxury railway journey across Vietnam features Indochine architecture

First luxury railway journey across Vietnam features Indochine architecture

PYS Travel has launched the first luxury railway journey across Vietnam named Sjourney, marking a new milestone in the railway tourism sector.

Travel - Sat, December 21, 2024 | 10:09 am GMT+7