Want to be in the loop?
subscribe to
our notification
Business News
BA RIA – VUNG TAU TO DEVELOP MODERN SEAPORTS, LOGISTICS SERVICES
A workshop was held in the southern province of Ba Ria – Vung Tau on June 18 to seek ways to develop seaports and logistics services, which are important components of the local economy.
Secretary of the provincial Party Committee Nguyen Hong Linh said from now to 2025, Ba Ria – Vung Tau is going to focus resources on developing modern seaports and related logistics services.
It will reserve 20 trillion VND (859.6 million USD) for investing in transport infrastructure linking seaports and regions, along with 2,000ha of land for developing the logistics system and a modern goods certification centre during the period.
The province will also select capable investors to develop seaport logistics services, set up a management board of the Cai Mep – Thi Vai port complex to create the best possible conditions for businesses and shipping firms when using the port system, and develop this complex into an export and import gateway of the southern key economic region, Linh noted.
Chairman of the provincial People’s Committee Nguyen Van Tho said seaport and logistics services are defined as important components of the local economy, adding that Ba Ria – Vung Tau has worked with relevant ministries and sectors to carry out numerous solutions to boost investment in the services and reaped practical outcomes.
He cited statistics as showing that the volume of cargo transported by sea and handled in the province has increased by 10 percent between 2016 and 2020. In particular, container freight delivered by vessels has grown by over 20 percent annually.
At the workshop, Deputy Minister of Transport Nguyen Van Cong said the ministry is considering the allocation of medium-term capital to dredging the Cai Mep – Thi Vai marine passage.
He asked Ba Ria – Vung Tau to accelerate the progress of Ben Luc – Long Thanh Expressway project, as well as the construction of roads connecting the Cai Mep – Thi Vai port complex with Phuoc An bridge, Ben Luc – Long Thanh Expressway and Bien Hoa city in nearby Dong Nai province to boost demand for goods transportation via the complex.
Cong also suggested the province attract more big investors to create more export sources and build logistics zones before putting ports into operation.
The Cai Mep – Thi Vai port complex was the one posting the world’s fastest growth in 2017 and also among the 21 ports around the world able to handle vessels of up to 200,000 tonnes.
Of the 69 port projects planned in Ba Ria – Vung Tau, 48 have become operational, and they are able to deal with 141.5 million tonnes of cargo each year. Meanwhile, 2,312ha of land has been zoned off for developing logistics facilities, with 20 projects covering 224ha already put into use.
Source: VIR
Related News
CUSTOMS BUDGET REVENUE EXPERIENCES 3% DECLINE IN Q1
Vietnam’s import and export value reached a total of US$145.59 billion in the first quarter (Q1) of 2024, marking a year-on-year growth of 18.2%. However, the customs budget revenue saw a 3% year-on-year decline, amounting to VND71,520 billion in the quarter, thereby achieving 19.1% of the full-year target.
RAPID LAW IMPLEMENTATION MAY PROPEL MARKET FORTUNES
“Investors and developers are looking forward to the implementation of the new law, which will remove obstacles for a range of projects that are struggling due to stalled procedures and lack of legality. For them, the earlier the better,” he said.
NATION URGED TO BUILD ON ECO-IP MODEL
Industrial parks (IPs) involved in an initiative that aims to help push them into the realm of being classed as eco-parks have seen improvements across a string of indicators, according to a review event in Ho Chi Minh City last week.
YEN LU INDUSTRIAL PARK: NEW DESTINATION FOR INVESTORS
Bac Giang is a destination chosen by many domestic and foreign investors thanks to its locational advantages and its most opening and favorable investment policies. Assisted by local authorities, Capella Land Joint Stock Company has effectively invested in industrial zones, especially Yen Lu Industrial Park - a new destination for investors, to contribute to the province’s success in investment attraction.
OPTIMIZING LEGAL AND REGULATORY FRAMEWORKS FOR EFFICIENT PUBLIC INVESTMENT DISBURSEMENT
According to the Ministry of Planning and Investment, a 1% increase in public investment raises GDP by 0.058%, and each VND1 disbursed stimulates an extra VND1.61 from the non-state sector. However, plan implementation often falls short at around 80% annually, despite government efforts.
NATION URGED TO BUILD ON ECO-IP MODEL
For the 2020-2024 project, three IPs were selected for the transformation including Deep C Industrial Zones in the northern city of Haiphong, AMATA City Bien Hoa in the southern province of Dong Nai, and Hiep Phuoc IP in Ho Chi Minh City. Over the last four years, the level of compliance with the international framework on eco-IPs for all pilot complexes has increased in terms of environment, economy, and management.