Vietnam to invest $13.7 billion to build 2 commercial ports to promote international trade
Posted on 06 October 2021
Vietnam’s government planned to invest US$13.77 billion for the port upgrade and optimization by 2030 in order to reduce reliance upon land transportation and promote international trade.
During the 2021 to 2030 period, the government will build two international commercial ports, including the Nam Do Son port in Hai Phong in northern Vietnam and the Cai Mep port in southern Ba Ria-Vung Tau Province.
The two ports will become international hubs to ship out Vietnamese goods to Europe and the US, the two major export markets for Vietnam, so Vietnamese products will not need to be shipped to intermediate ports in other countries.
According to the Ministry of Transport of Vietnam, most of the funds, around 95%, of this project will come from private companies and other legal sources.