New investor to revitalize $612 mln port project in Quang Tri
New investor SAM Holdings is set to revitalize the delayed My Thuy International Seaport project in the central province of Quang Tri.
SAM Holdings, with a 51% stake in My Thuy International Port Joint Venture Company (MTIP), would help assure the project's implementation, its investors told Quang Tri authorities in a recent meeting.
They said they could embark on construction in the fourth quarter of this year if procedures are fulfilled with Quang Tri support.
An illustration of the My Thuy International Seaport project. Photo courtesy of MTIP.
Of the VND14.2 trillion ($612 million) in total investment capital, VND2.14 trillion ($92.3 million) is company equity.
The 685-hectare port complex will include 10 wharves capable of receiving ships of up to 100,000 deadweight tonnage (DWT).
The groundbreaking ceremony of the project was conducted in early 2020, but construction has yet to commence.
My Thuy seaport will primarily serve industrial facilities in Southeast Quang Tri Economic Zone and provincial industrial parks, as well as attract transit products to Laos and northeast Thailand along the East-West economic corridor.
SAM Holdings is one of the first two joint stock companies to be listed on the Vietnamese stock exchange. My Thuy International Port Joint Venture Company was a venture between DISECO Vietnam, Golden Gate, and Daeyang.
- Read More
Thailand, Australia boost ties in transport, logistics
Thailand and Australia are seeking to strengthen cooperation in transport infrastructure and carbon emission reduction in the logistics sector.
Southeast Asia - Mon, February 17, 2025 | 8:20 pm GMT+7
China surpasses US as biggest importer of Vietnamese shrimp
China imported $834 million worth of Vietnamese shrimp last year, surpassing the U.S. to become the largest buyer of this item from Vietnam, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Economy - Mon, February 17, 2025 | 7:51 pm GMT+7
Malaysia, S Korea resume FTA talks
Malaysia and South Korea are set to hold their seventh round of negotiations for a bilateral free trade agreement (FTA) as they look to expand their trade portfolio and strengthen cooperation, according to the latter's Ministry of Trade, Industry and Energy.
Southeast Asia - Mon, February 17, 2025 | 5:23 pm GMT+7
Indonesia to launch new sovereign wealth fund this month
Indonesia will launch a new sovereign wealth fund called Danantara this month, with an initial capital of around $20 billion.
Southeast Asia - Mon, February 17, 2025 | 5:19 pm GMT+7
Singapore's Billion Union builds $70 mln fabric factory in Vietnam
Hong Kong-invested Thanh Hoa Billion Union Textile kicked off the construction of a $70 million factory in Vietnam’s central province of Thanh Hoa on Monday.
Industries - Mon, February 17, 2025 | 5:04 pm GMT+7
Vietnam’s construction ministry plans real estate exchanges for improved transparency
The Vietnamese Ministry of Construction is advancing a plan to establish real estate exchanges, similar to the stock market, in a bid to enhance transparency and efficiency in property transactions.
Real Estate - Mon, February 17, 2025 | 4:57 pm GMT+7
Vietnam plans to increase electricity imports from China, Laos by 2030
The Vietnamese Ministry of Industry and Trade (MoIT) aims to raise electricity imports from China and Laos by 3,000 MW and 2,500 MW by 2030, over 5 times and nearly 1.6 times higher than those stated in the current Power Development Plan VIII (PDP VIII), respectively.
Energy - Mon, February 17, 2025 | 4:14 pm GMT+7
Vietnam urges Turkish contractor to speed up mega Long Thanh airport's terminal construction
Türkiye-based IC ICTAS, the lead contractor of the passenger terminal within the under-construction Long Thanh International Airport, should speed up the construction of the package, said Vietnamese Deputy Prime Minister Tran Hong Ha.
Infrastructure - Mon, February 17, 2025 | 3:27 pm GMT+7
Vietnam tech giant FPT to provide high-quality AI human resources
With the groundbreaking of an inter-level school on Sunday, FPT Corporation is completing its education system from elementary to university levels in the south-central province of Binh Dinh, to provide high-quality human resources, particularly in AI.
Companies - Mon, February 17, 2025 | 11:32 am GMT+7
Japan pneumatics firm SMC to start $330 mln Vietnam expansion from July
SMC Manufacturing Vietnam, under Japanese pneumatic instrument producer SMC, aims to start its $330 million expansion in Vietnam from July.
Industries - Mon, February 17, 2025 | 10:47 am GMT+7
Institutional breakthroughs to provide solid foundation for heightened business confidence: economists
At a meeting of the National Assembly's Economic Committee in early February, the government proposed the 2025 GDP growth be "8% or more", instead of 6.5-7% set last November. The Investor introduces opinions of some leading Vietnamese economists on this proposed target.
Economy - Mon, February 17, 2025 | 8:02 am GMT+7
Vietnam consumer credit enters new growth cycle
After the decrease in consumer capital demand, negative growth, and peaking bad debts in 2023, Vietnam’s consumer financial market is entering a new growth cycle, backed by positive signs from the macroeconomic environment.
Finance - Sun, February 16, 2025 | 3:19 pm GMT+7
Vietnam property investors seek new opportunities in provincial markets
Real estate investors in Vietnam, both individuals and organizations, are shifting their investments from city centers to suburban regions and neighboring provinces where land remains abundant and significant investments are being made in infrastructure, particularly in transportation.
Real Estate - Sun, February 16, 2025 | 2:00 pm GMT+7
Five Vietnam pilgrimage destinations perfect for spiritual seekers: Booking.com
Booking.com, the world's leading digital travel company, has suggested some destinations in Vietnam for those seeking spiritual enrichment and a chance for reflection and connection, including Ba Den mountain and Bai Dinh pagoda.
Travel - Sun, February 16, 2025 | 10:59 am GMT+7
Malaysia takes the lead in data center development
Malaysia is making efforts to align with the global trend towards digitalization, which is driving demand for data centers, cloud computing, blockchain, and artificial intelligence (AI).
Southeast Asia - Sun, February 16, 2025 | 10:57 am GMT+7
WB sees Thai fiscal risks mounting due to spending surge
Thailand’s pursuit of an expansionary fiscal policy strategy to propel growth faces the risk of rising costs for elderly care, investment and the need to keep public debt level to sustainable levels, according to the World Bank.
Southeast Asia - Sun, February 16, 2025 | 10:41 am GMT+7
