Ministry of Transport to propose special mechanism for private investment in seaports

October 08, 2021 | 21:00

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The Ministry of Transport (MoT) will propose a special mechanism to the prime minister for approval to enable investors to better approach capital, thus creating more favourable conditions for private investment in seaports.

Ministry of Transport to propose special mechanism for private investment in seaports

The Ministry of Transport announcing the master planning on seaport development by 2030

Minister of Transport Nguyen Van The made a statement at the meeting on October 7 to announce the master planning of seaport development in Vietnam in 2021-2030, with a vision towards 2050.

The minister urged cities and provinces to work closely with the MoT on project development and investment mobilisation.

As decided by the prime minister, Vietnam’s seaport system in the next period of development will be divided into five groups, instead of the six ones in the previous years. The country set the target that seaports will be able to handle 1.1-1.4 billion tonnes of goods and commodities by 2030, with container throughput reaching 38-47 million TEUs.

“The planning gives priority to international gateway seaports, large-scale seaports serving the socio-economic development of the country; and large-scale terminals serving industrial parks and economic zones,” said Deputy Minister of Transport Nguyen Xuan Sang.

Six clusters of seaports will receive priority in development. The first will be the seaport system in the northern port city of Haiphong. The second will be the ports in the north-central province of Thanh Hoa. The third will be seaports in the central city of Danang. The fourth will be those in the central province of Khanh Hoa. The fifth will be the seaports in the Cai Mep-Thi Vai port area of the southern province of Ba Ria-Vung Tau. And the sixth will be Tran De Port in the Mekong Delta region.

According to Sang, private investment will make up 95 per cent of the VND313 trillion ($13.6 billion) going into the development of seaports. State funding will focus on public infrastructure and key areas to encourage investment.