Transport ministry backs Mekong Delta province to build mega seaport

Vietnam’s Ministry of Transport has backed the Mekong Delta province of Soc Trang to look into the construction of a giant offshore seaport.

The ministry replied to Soc Trang province’s proposal to build the seaport under the public-private partnership (PPP) format and conduct a pre-feasibility study using the state budget.

Currently, Vietnam has 34 seaports classified into four groups. Only Hai Phong seaport in the north and Ba Ria-Vung Tau seaport in the south are in the top tier, thanks to their sizes and operational purposes. If approved, the Tran De port in Soc Trang would become the third.

In a document signed by Deputy Minister Nguyen Xuan Sang, the ministry said according to the national plan for the development of seaports for 2021-2030, non-state budget is being prioritized to build maritime infrastructure in general, while the state budget is being prioritized to build public facilities.

The Tran De seaport project is set to be developed with private resources, in line with socioeconomic demand and investors’ capabilities, the transport ministry added.

In October 2022, South Korean investment fund FG Corporate and Soc Trang authorities discussed investment opportunities in Vietnam's infrastructure, particularly the Tran De seaport project.

Soc Trang Vice Chairman Lam Hoang Nghiep said the 4,550-hectare Tran De seaport needs an investment of VND55.7 trillion ($2.27 billion) until 2030, and after that VND146.3 trillion ($6.23 billion) from the private sector.

According to the plan, Tran De seaport, as a gateway to the Mekong Delta, will receive vessels of up to 160,000 deadweight tons (DWT) and handle 30-35 million tons of goods a year by 2030. By 2050 and beyond, the seaport will receive vessels of up to 200,000 DWT and handle 80-100 million tons of goods annually.

The project has been added by the Prime Minister to a master plan for the development of Vietnam's seaports from 2021-2030, with a vision to 2050. It was also included in Soc Trang's list of projects calling for foreign investment from 2021-2025.