HCM City (VNS/VNA) - Vietnam is encouraging investors from all around the worldto develop its ports, according to the Vietnam Maritime Administration.

Thecountry’s ports system has attracted enormous investment, helping increasecargo capacity from just 3.4 million tonnes in 1995 to 165.7 million tonnes in2017.

But anestimated 80-100 trillion VND (3.43-4.3 billion USD) more is required,including half for port infrastructure.

Trinh TheCuong, director of the administration’s Shipping and Maritime Services said:“This is a very big amount. So we mobilise from all sources.”

Publicfunding is focused on public infrastructure that connects key ports andregional hubs.

“Thismeans, with our limited budget, the Government of Vietnam encourages portoperators and shipping operators from all around the world to come and investin ports, with a focus on public-private partnerships for new large ports,” heexplained.

NguyenNgoc Hue, President of the Vietnam Association of Ports-Waterways-OffshoreEngineering, said marine transport played a very important role in Vietnam’seconomy.

“Marinetransport just accounts for 5.2 percent of domestic cargo share, but more than92 percent of import-export.”

Thevolume of goods transported through ports had increased by 10.9 percentannually on average, he said.

Le QuangTrung, Vice President of the Vietnam Maritime Corporation, said: “Vietnam isthe fastest growing container market in Southeast Asia with an annualcompounded growth rate of 14.4 percent between 2000 and 2017.

“Totalcontainer volumes at Vietnam’s ports reached 11.5 million TEU in 2018. Ports inthe south of the country accounted for 62 percent of the container volumehandled in the country in 2017, while the north had a 34 percent share,” hesaid.

Hue saidcargo transported through ports is forecast to keep rising sharply from 442million tonnes in 2017 to 640-680 million tonnes in 2020 and 1.04-1.16 billiontonnes in 2030.

Concurringwith Hue, Cuong said Vietnam’s rapidly growing trade and production had causedthe volume of cargo passing through its seaports to surge, making port projectsappealing to foreign investors.

“Manyshipping lines from many countries want to invest in Vietnam’s ports.”

Marinedevelopment strategy

The VietnamMarine Strategy for until 2020 seeks to create a strong nation at sea and toget rich from the sea.

Thecountry seeks to modernize sea transport, improving its quality, making itaffordable and safe, reducing pollution and energy use, and integrating withthe shipping market in the region and the world.

Thecountry will also “upgrade, invest deeply and bring into full play the capacityand efficiency of existing ports, focusing on building internationaltranshipment ports and international gateway ports in key economic regions anddeep-water ports specialising in handling containers, coal and coal oil, modernequipment.”

Currentlythe country has 31 ports with a capacity to handle 550 million tonnes of cargoa year.

The majorports include Hai Phong, Lach Huyen, Da Nang, Cai Mep-Thi Vai, and Cat Lai.-VNS/VNA