Singapore seeks further investment in Viet Nam's ports

A corner of sea port in the central province of Nghe Tinh. The port is one of nine ports expected to get investment capital from Singaporean businesses. - Photo ndh.vn

Speaking at the meeting with Deputy Minister of Transport Nguyen Hong Truong in Ha Noi on March 8, the ambassador said his term of office had witnessed an obvious development co-operation between Viet Nam and Singapore.

He said three years ago, Singapore was the fourth largest investors in Viet Nam. It was now the third largest investor in the country with total investment capital of US$34.7 billion.

The two countries have developed co-operation as two friends rather than two competitors. Therefore there will be many areas the two sides can further co-operation in the future, Ng Tech Hean said.

He said he had kept track on the information of the country's equitisation. Singaporean businesses had invested in many big projects such as Cai Mep – Thi Vai and Sai Gon Port. The businesses expected to learn more about equitisation at the Việt Nam National Shipping Lines (Vinalines).

At the meeting, Truong said Singapore was well experienced in transport management and investment and exploitation of sea port for Viet Nam to learn and study.

As for the equitisation of the transport ministry's enterprises, the deputy minister said all maritime businesses had carried them out. Meanwhile, Vinalines had submitted its plan to Prime Minister Nguyen Tan Dung for approval.

He said the seaports companies had completed equitisation, were regularly reducing the State's capital. The prime minister had recently asked the transport ministry to build an overall plan for a seaport system and draw the entire capital of the State at nine seaports.

Nine sea ports include cảng Khuyen Luong, Da Nang, Vinalines - Dinh Vu, and Cam Ranh, apart from Nam Can, Nghe Tinh, Can Tho and Cai Lan.

Truong said he hoped Singaporean businesses would invest in buying stakes at these ports. With the SP-PSA joint venture port, the dredged system was able to receive vessels with tonnage of 50,000 tonnes.

The ministry had also submitted the government charges of the seaport service. The charges would be applied for seaports in Cai Mep – Thi Vai area and HCM City, Truong said.