Vietnam requires $13-bln seaport infrastructure investment by 2030
Vietnam needs to invest $13 billion in seaport infrastructure by 2030 to improve the handling of container goods from the current 24 million twenty-foot equivalent units (TEU) a year to 30-40 million.
About 90% of the capital should be mobilized from the private sector, Le Cong Minh, chairman of Vietnam Port Association (VPA), added in a speech at the VPA's annual meeting in Danang city Thursday.
The amount of goods transferred via seaports in Vietnam reached 496 million tons in the first eight months of this year, up 3% year-on-year, according to a Ministry of Transport report. The August figure reached 62 million tons, of which container goods was 2.13 million TEUs.
Regarding inland waterways, 242.5 million tons of goods were transported in the period.
Vietnam currently operates 34 seaports, excluding ones particularly serving oil-gas activities. Per the seaport planning 2021-2030, with vision to 2050, the seaport network is set to transport 1.14-1.42 billion tons of goods a year, of which container goods is 38-47 million TEUs.
The planning, which was approved last September, aims to increase the total number of seaports to 36, featuring Haiphong and Ba Ria-Vung Tau seaports as two special cases.
The seaport sector in Vietnam will continue its stable growth, Mirae Asset Vietnam said in a report in August. The brokerage attributed the growth to the country’s strong export-import activities, attraction of foreign direct investment into the manufacturing and processing sector, and stable production in the post-Covid-19 recovery period.
It predicted the total transported goods via seaports could reach 710 million tons this year.
The firm said the possible global economic slowdown is the main risk for the seaport sector, partly due to the U.S Federal Reserve’s tightening monetary policies, higher energy prices resulting from the Ukraine-Russia conflict, and China’s continuation of its "zero-Covid" policy.
Most recently, Mediterranean Shipping Company (MSC), the second largest container ship firm in the world, proposed building a “mega” seaport in Can Gio district, Ho Chi Minh City.
The project, with a proposed investment of $6 billion, could receive the world’s biggest container ship of 24,000 TEUs and have a capacity of 10-15 million TEUs a year. Earlier this week, local authorities selected Portcoast Consultant Corporation to conduct a pre-feasibility study for the project.
The Trungnam Group's “shortcomings” have led to Vietnam Electricity (EVN) stopping purchase of 40% of its Trung Nam-Thuan Nam solar farm's capacity, says a deputy minister of industry and trade.
Energy - Sun, October 2, 2022 | 11:21 pm GTM+7
Vietnam earned $40.8 billion from exporting agriculture, forestry and fisheries products in the first nine months of this year, up 15.2% year-on-year.
Economy - Sun, October 2, 2022 | 2:22 pm GTM+7
Hanoi, Bac Ninh and Hung Yen authorities have committed to handing over 1,341 hectares of land, or 70%, before June 30 next year so the Hanoi Ring Road 4 project can break ground as scheduled.
Infrastructure - Sun, October 2, 2022 | 2:00 pm GTM+7
Three workers were conducting maintenance work on gas pipelines at Formosa’s thermal power plant in Ha Tinh province when an explosion occurred, killing one and severely injuring the other two.
Society - Sun, October 2, 2022 | 11:51 am GTM+7
Vietnamese regulators need to fasten and simplify legal steps to encourage public bond issuances as enterprises usually opt for private placements, say experts.
Finance - Sun, October 2, 2022 | 10:36 am GTM+7
Vietnam welcomed 1.87 million foreign visitors in the first nine months of the year, up 16.4 times year-on-year, with South Korea and the U.S. leading the pack.
Travel - Sat, October 1, 2022 | 8:26 pm GTM+7
Molex, a U.S. manufacturer of electronic, electrical and fiber optic connectivity systems, has expanded its manufacturing facility in Hanoi with solar panel installation.
Industries - Sat, October 1, 2022 | 6:46 pm GTM+7
State-owned Vietnam Electricity (EVN) has asked Trungnam Group to put the 172-megawatt capacity portion without a pricing mechanism of its 450 MW solar farm in Ninh Thuan into the competitive power generation market.
Energy - Sat, October 1, 2022 | 3:54 pm GTM+7
Spectre, a Danish maker of functional garments for outdoor sports brands, started operating its $17 million factory in An Giang province Friday, the company’s third in Vietnam.
Industries - Sat, October 1, 2022 | 3:06 pm GTM+7
A Dong Thap province court on Friday handed a death sentence to Nguyen Trung Thanh, chief accountant of Filipino-invested Pilmico Vietnam, on corruption charges.
Society - Sat, October 1, 2022 | 2:43 pm GTM+7
An appeals court in Hanoi has reduced the jail term for former deputy minister of health Truong Quoc Cuong to three years, one year less than sentence awarded by the court of first instance in May.
Society - Sat, October 1, 2022 | 11:05 am GTM+7
Liquidity in the townhouse and villa segment, once feverishly high in both Hanoi and Ho Chi Minh City, has been drying up in recent months.
Real Estate - Sat, October 1, 2022 | 9:50 am GTM+7
American energy corporation AES has received in-principle approval from the Ministry of Industry and Trade for its VND50,432 billion ($2.11 billion) Son My 2 LNG-to-power project in the south-central province of Binh Thuan.
Energy - Fri, September 30, 2022 | 9:24 pm GTM+7