Prime Minister Nguyen Xuan Phuc has agreed on the building of a free trade zone at Cai Mep International Terminal (CMIT) to pave the way for multinationals shifting their supply chains here - a move set to help the deep-water port to compete with Singapore at the regional level by 2030.
| Prime Minister Nguyen Xuan Phuc (middle) at the CMIT. Photo: Quang Hieu |
.jpg)
This is one of the instructions given by the government leader during his inspection visit to the terminal, the Vietnam’s deepest seaport in the southern province of Ba Ria–Vung Tau, on March 20.
He said a railway from Bien Hoa to CMIT as part of the North-South railway project is also necessary to promote the transportation of goods via the port. “Inadequate transport infrastructure will hinder the development of Cai Mep port.”
Phuc also nodded in approval of building Cai Mep logistics center and a distribution center to connect with the Long Thanh International Airport, which is being built in the southern province of Dong Nai, in the future.
He said the terminal should be able to compete with Singapore at the regional level by 2030 and later a global hub for cargo transit by 2045.
“This deep-water port could become one of the world’s major ports, provided that a new mindset is adopted by the authorities to realize its potential,” he said.
“As we look forward for a prosperous and strong Vietnam by 2045, Ba Ria – Vung Tau with its network of seaports and logistics would play a key role during the process,” he noted.
| A part of the CMIT. Photo: Quang Hieu |
The PM urged government agencies to soon finalize the master plan for Vietnam’s seaports development in the 2021-30 period, with vision to 2050, expecting such plan would help tap into Vietnam’s potential of 3,000 kilometers of coastline.
“Seaports will serve as the focal point to remove bottlenecks for socio-economic development by completing a network of multi-modal transport,” Phuc said, "More efforts will be needed to upgrade transport infrastructure to improve connectivity from production hubs to seaports."
Phuc expected more breakthrough policies for greater development of maritime economy, with a focus on better taking advantage of seaports.
The PM also called for the development of Vietnam’s shipping fleets to support cargo transportation for economic development.
“Vietnam’s seaports should focus on applying advanced technologies towards greener, smarter and optimization of land use. Do not let those ports go backwards,” Phuc stressed.
The PM urged government agencies to soon finalize the master plan for Vietnam’s seaports development in the 2021-30 period, with vision to 2050, expecting such plan would help tap into Vietnam’s potential of 3,000 kilometers of coastline.
“Seaports will serve as the focal point to remove bottlenecks for socio-economic development by completing a network of multi-modal transport,” Phuc said, "More efforts will be needed to upgrade transport infrastructure to improve connectivity from production hubs to seaports."
Phuc expected more breakthrough policies for greater development of maritime economy, with a focus on better taking advantage of seaports.
The PM also called for the development of Vietnam’s shipping fleets to support cargo transportation for economic development.
“Vietnam’s seaports should focus on applying advanced technologies towards greener, smarter and optimization of land use. Do not let those ports go backwards,” Phuc stressed.
Ba Ria – Vung Tau is the gateway of Vietnam’s Southeast region, one of the country’s key economic hubs contributing 33% of the GDP, to international sea routes. This port, together with the southern province and Hai Phong in the north, would form a major economic corridor connecting Vietnam’s key economic centers of Hanoi and Ho Chi Minh City to China and Cambodia. In 2020, Ba Ria – Vung Tau seaports handled 113 million tons of goods, including 7.5 million TEUs of containers, or 16% of the country’s total and 34% of containers going through Vietnam’s seaports. Last October, Margrethe Maersk, one of the world’s largest container shipping line, successfully docked at the CMIT, making the seaport one of 20 terminals globally capable of receiving such a large ship. |
- Apartment prices in Hanoi are closing in on those in Ho Chi Minh City
- Coffee exports reach record $5 billion
- Nearly 36,000 Vietnamese workers go abroad in Q1 2024
- New Vietnam-Laos trade agreement signed
- Vietnam’s electricity consumption set to hit record high during dry season
- Long-term prospects in Vietnam look promising for European businesses