Marine Link
Tuesday, September 27, 2016

Vietnam Port Development Opportunity

September 11, 2012

Construction of Van Phong International Transshipment Port has ceased, opening door to investors says economic zone official.

The $3.6 billion transshipment port, fully funded by the debt-laden Vietnam National Shipping Lines , or Vinalines , was started nearly three years ago, on October 31, 2009. However, the government has ordered the investor to stop construction, after 114 piles were successfully laid in the Van Phong Bay in the coastal province of Khanh Hoa.


Phi said he is not surprised by the government’s request.

 “It’s difficult for Vinalines to continue implementing the project, given its poor ability,” he told Tuoi Tre.

 Phi added that without the role of Vinalines, which was mainly in charge of the initial stage of the project, it will still be carried out, as other qualified investors can invest in the next stages.

 “As ordered by the government, the Ministry of Transport and Khanh Hoa authorities have to continue attracting foreign investment on the transshipment port,” he said.

The Van Phong International Transshipment Port project, expected to be a key project, providing the pulse for development of the entire Van Phong Economic Zone, was scheduled to become operational by 2020. But it is obvious that the target cannot be met, given the current situation.




Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News