Vietnam Needs US$25B for Seaport Development Through 2020

Vietnam is estimated to require between US$20 billion and US$25 billion for seaport development in the next decade, according to an official from Vietnam Maritime Administration (Vinamarine).

 

Vietnam needs more major ports to meet an annual growth of container throughput of 25%, said Nguyen Manh Ung, Deputy General Director from Vinamrine’s Portcoast Consultant Company at a recent conference held in Hanoi.

 

He added, of the total capital, 12%-15% would come from the Vietnamese government the rest is expected from private investors.

 

Vinamarine Chairman Vuong Dinh Lam said foreign investors have to date poured roughly US$1.8 billion into terminal projects in Cai Mep-Vung Tau area in the southern province of Ba Ria-Vung Tau. APM Terminals, SSA Marine and Hutchison Port Holdings are among those investors.

 

Ung noted that the country will give priority to develop more gateway ports in Ba Ria-Vung and Haiphong City. (VPA)