Japanese businesses set sights on Vietnamese port projects

October 10, 2018 | 14:00

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A number of Japanese businesses are seeking investment opportunities in Vietnamese port projects, especially those in the central region, to cash in on the country's growing trade.

japanese businesses set sights on vietnamese port projects

Deputy Minister Nguyen Van Cong held talks with Japanese businesses

At a meeting with Deputy Transport Minister Nguyen Van Cong on October 9, a business mission led by Nakagaki Yoshihiko, vice president of the International Friendship Exchange Council of Japan (FEC), learned about the country’s planning and strategy to develop ports. They were also interested in shipbuilding and the production of electric cars in the country.

According to Cong, the central region has favourable locations for port investment and development. At present, ports are mostly located in the north and the south, while the majority in Central Vietnam remain small in scale.

"We are planning to expand and develop ports in the central city of Danang, which is the regional economic hub and has great advantages in port development," Cong said, proposing Japanese businesses to invest in transport infrastructure in Vietnam.

The cargo volume through ports in Vietnam grew by 15-20 per cent per annum over the past decade, proving hugely promising for investors.

The Japanese mission at the meeting

Also at the meeting, the deputy minister shared with the mission opportunities in the development of shipbuilding and the production of electric cars in Vietnam in the future.

Japan is a big ODA donor for transport infrastructure projects in Vietnam. Projects accessing this capital source include Lach Huyen Port and the Cai Mep-Thi Vai port area. They have greatly contributed to the country's socioeconomic development in general and transport network in particular.

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