Investment for southern Vietnam mega port project approved

Vietnam's Deputy Prime Minister Tran Hong Ha has signed a decision approving the investment policy for the Long Son My Xuan General Port Project in Ba Ria-Vung Tau province, with a total investment of over VND2.38 trillion ($93.3 million).

Accordingly, the Long Son My Xuan general port project will be built in the Thi Vai port area in My Xuan ward, Phu My town.

Its development is part of a broader plan to complete the Thi Vai port area in accordance with the approved master plan.

The project will require an investment of over VND 2.38 trillion ($93.3 million) and will be implemented on a land area of approximately 41.65 ha.

The investor responsible for the project is Long Son Co., Ltd.

The construction of the general port aims to support economic activities, facilitate the operations of industrial zones within the province and surrounding areas, and meet the growing demand for construction materials in the region.

Additionally, the project seeks to maximize the advantages of the region’s natural conditions, geographical location and ongoing transportation infrastructure developments. This will contribute to socio-economic growth in Ba Ria-Vung Tau province, as well as the southern region.

The Long Son My Xuan general port project will include a main berth with a length of 270 m, capable of accommodating general cargo ships of up to 30,000 DWT; four barge berths with a combined length of 530 m, capable of receiving ships and barges with a capacity of up to 7,500 DWT; a warehouse system; and a cement grinding facility with a production capacity of 2.3 million tonnes per year.

Under the decision, the Ministry of Finance will be responsible for assessing the investment policy, providing recommendations and ensuring compliance with state management regulations in accordance with investment laws and relevant legal frameworks.

Other ministries, Government agencies and the People's Committee of Ba Ria-Vung Tau province will be responsible for evaluating the investment policy within their respective jurisdictions. Their assessments and approvals must comply with the Investment Law and other applicable legal provisions.

The provincial People's Committee is tasked with allocating land in accordance with the approved land-use plan, port development plans and regulations issued by competent authorities. This will ensure that the investor can implement the project in compliance with land laws.

The provincial People's Committee of Ba Ria-Vung Tau must ensure that sufficient land is allocated for reforestation efforts to maintain a balance between environmental protection and economic development.

The conversion of land for other purposes will only be permitted if all conditions specified in Article 19 of the Forestry Law are met. The local authorities must strictly protect forest areas designated for conversion and only allow land-use changes once all legal procedures are completed.

The people's committee must also monitor and supervise the investor throughout the process of converting forest land for alternative uses. Additionally, they must oversee the project's implementation to ensure compliance with legal regulations, including financial mobilisation activities.

The Ministry of Construction is required to urgently approve the detailed zoning plan for port land and water areas in the province. This zoning plan will provide the legal foundation for project implementation. Furthermore, the ministry must guide the investor in reviewing and finalising project documentation for the feasibility study phase.

The Ministry of Agriculture and the Environment must assist and guide the People's Committee in matters related to land allocation, land leasing and the conversion of forest land for other uses. These processes must align with approved planning guidelines and legal regulations.

Additionally, the ministry must support the investor in completing the required environmental impact assessments. The investor must adhere to all environmental protection regulations, including those concerning water resource management, throughout the project’s implementation.