Northern Vietnam port upgrade proposed to receive 200,000-DWT vessels

Hung Yen province authorities have proposed the Ministry of Construction include their Diem Dien port area in the country's master plan for seaport development from 2021-2030, with a vision to 2050.

Accordingly, the port area, once upgraded and expanded, will be capable of receiving 200,000-deadweight-ton (DWT) vessels. That means it will be equivalent in scale to major ports in Southeast Asia.

This proposal, sent by the Hung Yen provincial People’s Committee, serves as one of the foundations for the study and establishment of Hung Yen Free Economic Zone, built around four core breakthroughs: freedom of business, governance, capital, and labor.

Under the prime ministerial decision issued in 2021, which approved the national seaport development plan, and another decision introduced in 2024, which revised and supplemented it, the current Thai Binh port area is planned to accommodate vessels of up to 50,000 DWT at the river mouth.

Hung Yen province is currently revising its provincial master plan for 2021-2030, with a vision to 2050. Within this framework, the Thai Binh Economic Zone is being studied for transformation into the Hung Yen Free Economic Zone. The plan envisions developing a coastal port area in Thai Binh waters capable of receiving vessels up to 200,000 DWT.

The Hung Yen Free Economic Zone is designed as an integrated, multi-sector development model, focusing on industrial, high-tech, digital, and high-value service sectors and forming a dynamic living and business ecosystem.

The zone will operate under breakthrough institutional and policy mechanisms to promote business, capital, talent, and governance freedoms, serving as a gateway connecting northern Vietnam to the global market.

Hung Yen, newly formed from the merger of the former Hung Yen and Thai Binh provinces, boasts a dense river network, with 56 km of coastline, five national inland waterways totaling 326.5 km, and about 316.5 km of local waterways. The province borders Bac Ninh, Ninh Binh, the capital city of Hanoi, the port city of Hai Phong, and the East Sea.

Its river systems flow into the sea through five major estuaries - Thai Binh, Diem Dien, Ba Lat, Tra Ly, and Lan - offering significant advantages in connecting inland waterway transport networks with coastal and estuary port systems.

This connectivity helps reduce logistics costs, enhance bulk cargo transport capacity, and foster the growth of production, industrial zones, and economic areas within the province.

In May, the Trump Organization and local developer Kinh Bac broke ground on a $1.5 billion golf, eco-tourism, and urban complex in Hung Yen province. The mega project spans nearly 990.43 hectares across six communes in the former Khoa Chau district. Construction is scheduled to be completed by Q2/2029.

In October, Vietnamese conglomerate Geleximco Group and China’s Chery Automobile broke ground for their $319 million GEL-O&J automobile plant in the province.

The same month, Vietnam’s Ministry of Public Security started work on a 60,000-seat domed stadium in the province, set to become the country’s most technologically advanced sports venue.

Also in October, logistics firm SPX Express (SPX) and Frasers Property Vietnam began construction of an automated sorting center in Hung Yen, set to become SPX’s largest facility in Southeast Asia when it begins operations in 2027.

The Thai Binh LNG power plant project, developed by Thai Binh LNG Power JSC - a joint venture between Japan’s Tokyo Gas (40%), Kyuden International (30%), and Vietnam’s Truong Thanh Group (30%), broke ground in Hung Yen on October 10.

However, investors of the $2.56 billion LNG-fired power plant have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.

Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), recently received in-principle approval from Hung Yen province’s authorities for its 235-hectare Ly Thuong Kiet Industrial Park – Phase 1 project. The VND2.8 trillion ($106.35 million) project is expected to begin handing over infrastructure-ready plots to tenants from late 2026.