Vietnam to Invest up to $8 Billion Developing World Class Ports

January 6, 2021

Vietnam is planning significant investments designed to create world class ports in the next phase of its master plan for its port system. Highlighting the country’s success in developing ports over the past 20 years, the Ministry of Transport also said that it plans to invest between approximately $6 and $8 billion by 2030 in the next phase of port development.

"After 20 years of planning, Vietnam's seaport system has made great progress in both quality and quantity, basically meeting the development target under the approved plan," said Deputy Minister of Transport Nguyen Nhat. However, to meet the demand for import and export goods, and the goals for economic development, the ministry acknowledged requires significant investment to further expand the capabilities of Vietnam’s ports.

At a conference held on December 30, they reviewed plans for an increased focus on port development. This includes detailed planning for groups of seaports, ports, wharves, buoys, water zones, water areas, and the development of seaport land and waters by 2030 as part of the long-term vision for 2050 The deputy minister acknowledged that Vietnam lacks a large international standard port while several small ones have inadequate infrastructure, resulting in inefficient port operations.

To Read More: https://www.maritime-executive.com/article/vietnam-to-invest-up-to-8-billion-developing-world-class-ports

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