Saigon Port plans to join MSC-linked consortium for southern Vietnam's Can Gio port investment

Saigon Port JSC (UPCoM: SGP) plans to contribute capital for 15% ownership in a consortium registering to develop the Can Gio International Transshipment Port project in Ho Chi Minh City.

The consortium also includes Saigon Port's parent Vietnam Maritime Corporation (VIMC) and Terminal Investment Ltd. (TiL) under the Switzerland-headquartered Mediterranean Shipping Co. (MSC),

Saigon Port will seek shareholder approval to join the consortium with VIMC and MSC/TiL, or another entity designated by MSC/TiL, to register for the project investor selection process.

The plan is expected to be submitted to an extraordinary shareholders’ meeting scheduled for January 29, 2026.

Earlier in 2025, Prime Minister Pham Minh Chinh had granted in-principle approval to the Can Gio International Transshipment Port project, with investment capital exceeding VND50 trillion ($1.9 billion).

Under the PM’s decision, the project will cover 571 hectares of land, including nearly 83 ha of forest land in Go Con Cho Islet in HCMC’s outlying Can Gio area.

The port will provide services related to container port operations, seaport activities, and other associated services, with the operational period of 50 years from the date of in-principle approval.

The municipal People’s Committee on February13, 2025 issued an implementation plan for the project.

Under a proposal by the city Department of Finance, the investor selection process will comprise four steps. The HCMC People’s Committee will approve the investor selection method. Bidders will then submit registration dossiers to the department.

After receiving the dossiers, the department will coordinate with relevant agencies to assess qualifications and capacity of bidders and submit the results to the municipal People’s Committee for review and approval. The final step is a decision to approve the investor.

According to the city Construction Department, once operational, the Can Gio port is expected to boost logistics capacity and strengthen international maritime standing of HCMC and Vietnam.

The port is projected to contribute about VND34 trillion to VND40 trillion ($1.29-1.52 billion) a year directly to the state budget and create around 6,000 to 8,000 jobs.

It is also expected to act as a magnet for foreign direct investment, support the development of industrial parks across the southeastern region, and help advance the international financial center in HCMC.

Saigon Port serves HCMC, neighboring regions and the Mekong Delta, handling more than 10 million tons of cargo annually.

In the first nine months of 2025, the company posted a 6.8% increase in revenue to VND868 billion ($33.03 million). Pre-tax profit rose 149% to more than VND436 billion ($16.59 million), while net profit surged more than 204% to over VND387 billion.

MSC operates the world’s largest container fleet, with about 900 vessels running more than 300 service routes that connect 520 ports across 155 countries and transport roughly 27 million TEUs a year.

Beyond ocean shipping, the group controls a fully integrated logistics ecosystem spanning port operations through Terminal Investment Ltd., inland logistics via MEDLOG, air freight through MSC Air Cargo, as well as rail, passenger ferries and cruise operations under MSC Cruises, alongside other supporting businesses.