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  Foreign Investment

Government encourages investment on sea ports

The Government will adopt a host of incentives to encourage all economic sectors to get involved in building sea ports, especially those adjacent to goods processing zones and regional gateway sea ports, with a view to helping producers reduce transport costs.

In a report delivered at the National Assembly on Wednesday on the development of sea port and airport systems, Minister of Transport and Communications Dao Dinh Binh noted the transport and communications sector has set a long-term target of developing a complete sea port system to satisfactorily cater for the potentially great demand from foreign ships.

He emphasised that the country has great potential for developing sea ports, citing the advantages of the 3,200-km coastline, water surface stretching over 1 million, and the geographical position which is near the international nautical line.

According to a sea port development master plan until 2010, Viet Nam will have as many as 119 sea ports, capable of handling 190 million tonnes of cargo by 2010 and up to 336 million tonnes by 2020.

The country's current sea port system has thus far shared a large part of the burden of the land transport sector, with the volume of cargo handled through the system having always surpassed the planned targets.

Over the past years, the Government has earmarked large investments for regional gateway sea ports, the Minister noted.

In particular, the Government has poured 125 million USD into Cai Lan port in Quang Ninh province and some 140 million USD into Hai Phong port - the two gateway ports for the northern region.

Another 100 million USD has been injected into Tien Sa sea port in the central city of Da Nang with the aim of developing it into a central gateway port.

The Government also plans to invest 300 million USD in the construction of Thi Vai-Cai Mep sea port in the southern coastal province of Ba Ria-Vung Tau to meet the sea freight demand from southern businesses.

The Ministry of Transport and Communications is preparing to build Van Phong deep-water sea port in Central Khanh Hoa province which will act as a regional and international entrepot, Minister Binh said.

The Minister also talked about the development of airports in Viet Nam.

Currently, the aviation sector has 19 operational airports and plans to increase this figure to nearly 30 by 2020, the Minister stated, adding that a number of projects to build international terminals at major airports is underway, aimed at increasing the capacity of the country's current airport system.

Vietnam Economy - (19/11/2004)

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