VIETNAM NEEDS HUGE CAPITAL FOR SEAPORT DEVELOPMENT
As of October 2022, Vietnam had 296 ports about 107 km in length (five times that of 2000). International gateway ports have been established in the northern and southern regions, with Lach Huyen wharf area (Hai Phong) and Cai Mep wharf area (Ba Ria-Vung Tau) capable of accommodating container ships up to 145,000 tons and 214,000 tons, respectively.
BIG-TICKET INFRASTRUCTURE PROJECTS PROPOSED FOR MEKONG DELTA
These include projects to build coastal roads, inter-regional roads, dikes and reservoirs, with total capital of VND94,300 billion. They were proposed by the Ministry of Transport, the Ministry of Agriculture and Rural Development, and the Mekong Delta’s 13 provinces.
RAILWAY, SEAPORT NETWORKS NEED TO BE ARTERIES OF ECONOMY: DEPUTY PM
The railway network connecting economic hubs and seaports needs to be designed as the key arteries of the economy, Deputy Prime Minister Trần Hồng Hà said at a meeting with the transport ministry and relevant departments yesterday.
VIMC REPORTED ALL-TIME HIGH PROFITS, RESTRUCTURING CONSIDERED
The Vietnam Maritime Corporation (VIMC) reported its profit exceeding US$130 million in 2022, for the second year in a row. While the final figure was still not yet made public while under audit, VIMC, the country's largest State-owned maritime logistics corporation, said 2022 had been a good year for business.
HAI PHONG AIMS TO BECOME AN INTERNATIONAL LOGISTICS CENTRE
The northern city of Hai Phong aims to become a regional and international logistics centre due to its many advantages as a transportation hub for all five types of traffic, including sea, road, air, railway, and inland waterways.
CUSTOMS SECTOR: EFFORTS FOR MAJOR BREAKTHROUGHS IN SIMPLIFYING ADMINISTRATIVE PROCEDURES
The National Single Window (NSW) has brought about positive changes in the settlement time of administrative procedures. However, changes are varied among procedures and there are no major breakthroughs in simplifying administrative procedures and reducing costs for businesses.
PESSIMISTIC OUTLOOK FOR MARITIME TRANSPORT FIRMS AMID WEAK DEMAND
Analyst Phạm Minh Quang, BIDV Securities, estimated that international freight rates would continue to drop by around 12 per cent towards Q1/2023, caused by high inventory levels and high inflation. Domestic freight rates would follow suit with a drop of about 5 per cent amid a slow recovery of vessel supply.
WAREHOUSES IN HIGH DEMAND TOWARDS YEAR END
The demand for warehousing space is increasing dramatically as consumers' purchasing power is hiking up as the year comes to a close. Cushman & Wakefield, a global commercial real estate services company, reported that the occupancy rates for warehouses in HCM City and Hà Nội reached 90 per cent in the first two quarters of 2022.
