Southern Vietnam province to develop international port worth nearly $230 mln

Vietnam's Deputy Prime Minister Tran Hong Ha has approved adjustments to the investment policy for the My Xuan International General Port project, which was previously the Vinalines Ship Repair Factory.

The project will be undertaken by QTM International Port Joint Stock Company.

The project will see the construction of the My Xuan International General Port, capable of accommodating ships with a capacity of up to 60,000 DWT.

The port will occupy a total area of approximately 71.23 hectares with a total investment of VND5.73 trillion (nearly $230 million). The project is scheduled to be implemented from 2025 to 2030.

According to the plan, signed under Decision No. 200/QD-TTg on January 21, 2025, the International General Port will consist of eight berths divided into two main zones.

The first zone, located downstream of the Phuoc An Bridge, will include two wharves with a total length of 840 metres, capable of handling ships of up to 60,000 DWT.

The second zone, upstream of the Phuoc An Bridge, will feature two offshore wharves with a combined length of 1,055 metres, accommodating ships of up to 30,000DWT.

This port is considered a key project in developing port infrastructure in Ba Ria-Vung Tau. It aims to enhance logistics capabilities, support international trade and stimulate regional economic growth. Once completed and operational, it is expected to become a significant focus for Vietnam's maritime development strategy.

In 2024, Ba Ria-Vung Tau leveraged domestic and international opportunities by focusing on infrastructure development and high-quality workforce training. The province’s strengths in marine economy, international ports, processing industries, renewable energy and green tourism have been increasingly harnessed.

Throughout 2024, the province’s total retail sales of goods and consumer service revenues were estimated at VND122 trillion ($4.86 billion), up 13.42% compared to 2023. However, the per capita GRDP in the province was approximately VND460.63 million ($18,370) per year, a slight 1.3% decline from the previous year, influenced by prices of crude oil and natural gas extraction.

In 2025, Ba Ria-Vung Tau aims to achieve a GRDP growth rate of 10% and industrial production value is projected to increase by 12.81%.