Shipping behemoth MSC selected as major investor for mega port project in southern Vietnam

Authorities in Ho Chi Minh City have approved a consortium consisting of Vietnam Maritime Corporation (VIMC), Saigon Port, and Terminal Investment Limited Holding S.A. as the investor for the $4.98 billion Can Gio international transshipment port project.

Terminal Investment Limited is part of MSC, a global leader in container shipping. In Vietnam, MSC already operates in Hai Phong, Danang and the Cai Mep-Thi Vai area in HCMC.

Total investment is estimated at more than VND128.87 trillion ($4.98 billion), with 15% funded by investor equity and the remainder mobilixed from other sources. Terminal Investment Limited Holding holds a 49% stake, VIMC 36%, and Saigon Port 15%.

The decision follows earlier in-principle approval by the Prime Minister and special policy mechanisms granted by the National Assembly - the country's legislature - for the city.

The port will span around 571 hectares, with a total main berth length of 7.5 km. Designed capacity is projected to reach 4.8 million TEU by 2030, rising to 16.9 million TEU by 2047.

In the initial phase, the port will include two to four berths capable of handling vessels of up to 250,000 tons, with long-term expansion plans for up to 13 berths.

Under the city’s requirements, the investors are prohibited from transferring the project within 10 years of land allocation, must disburse at least VND50 trillion ($1.9 billion) in the first decade and complete the entire project within 20 years. The project’s operating term is set at 50 years.

Once completed, the Can Gio port is expected to become a major international transshipment hub, enhancing Vietnam’s position in global logistics chains.

At full capacity, the project could generate annual revenues of VND34-40 trillion ($1.52 billion) and create 6,000-8,000 direct jobs, alongside tens of thousands of indirect positions.

The Can Gio area is also slated for major infrastructure developments, including a 2,870-hectare coastal urban project, a Ben Thanh-Can Gio metro line, the Can Gio bridge and regional transport links, aimed at strengthening connectivity and supporting the port’s operations.