Want to be in the loop?
subscribe to
our notification
Business News
CAI MEP-THI VAI PORT COMPLEX INEFFICIENT
Enterprises and experts pointed out this problem at a seminar held on Wednesday by the ministries of transport, and planning-investment, and the Japan International Cooperation Agency (JICA) to evaluate the performance of the Cai Mep-Thi Vai port complex.
It is costly to transport goods from HCMC or Binh Duong to Cai Mep-Thi Vai as the port complex does not have yards for empty containers, forcing enterprises to bring their goods to Cat Lai Port in HCMC, said Nguyen Thanh Tam, deputy director of HCMC-based company InterLog.
In addition, the time for transporting goods to other Asian countries from Cai Mep-Thi Vai is over ten days compared to only three days from Cat Lai Port in HCMC, leading enterprises to shun Cai Mep-Thi Vai, he said.
Le Duy Hiep, chairman of the Vietnam Logistics Business Association (VLA), said currently enterprises have to transport their goods by barge to avoid traffic jams on the road, thus spelling trouble for exporters.
What should be done now is to build roads and upgrade inland waterways linking Cai Mep-Thi Vai and nearby localities.
Hiep said another point that makes Cai Mep-Thi Vai unattractive is the lack of space for empty containers while there are nearly 40 depots for empty containers around ports in HCMC and Binh Duong.
It costs up to VND4.3 million (around US$192) to transport goods on a 40-kilometer section from Dong Nai’s Nhon Trach District to Cai Mep-Thi Vai but only around VND3.3 million to bring goods through a section of 80 kilometers from Nhon Trach to Cat Lai, he gave figures to prove his point.
According to the Vietnam Marine Administration, services at Cai Mep-Thi Vai have not been fully developed and along with its underdeveloped infrastructure, the port complex has been unattractive to transport firms.
As calculated, a port with a 600-meter pier should have an annual capacity of one million TEUs to boost the development of other services but the total capacity of six to seven piers at Cai Mep-Thi Vai is only 1.3 million TEUs per year compared to an annual designed capacity of eight million TEUs.
Cai Mep-Thi Vai port complex was commissioned in late January 2013 after four years of construction. The project was financed by Japan’s official development assistance (ODA) loans and Vietnam’s reciprocal capital.
Deputy Minister of Transport Nguyen Van Cong said the port complex can accommodate vessels of 160,000 DWT.
Work on roads linking the port with other localities has started, such as Ben Luc-Long Thanh and Bien Hoa-Vung Tau expressways, and when they are in place, the time for goods transport from the Mekong Delta to the port complex would be shortened.
Besides, the transport ministry is working on a project to dredge the Dong Tranh River to facilitate the inland waterway transport between HCMC and Cai Mep-Thi Vai.
In the future, if the project receives more funds from Japan or other foreign investors, the authorities will build Phuoc An Bridge.
The total volume of goods imported or exported through ports nationwide reached 427 million tons last year, up 14.5% year-on-year.
Source: The Saigon Times
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
EXPLORE HONG KONG WITH A COMPANION
From now until 19 August 2024, you can enjoy our exclusive Fly 2 Hong Kong offer on round-trip Economy flights from USD364^ for 2 persons, sponsored by Hong Kong International Airport. Bring along a travel buddy and experience together the excitement and charm of our vibrant home city.
![Card image cap](/uploads/news/Factory%201.jpg)
BUSINESSES INCREASE WISHES FOR SPECIALISED INDUSTRIAL PARKS
Data centres, industrial parks (IPs) reserved for high-tech production, and parks serving Chinese, the United States, Taiwanese, or Japanese investors are gradually being formed to welcome new funding waves, according to Truong An Duong, general manager of North Vietnam and Residential at Frasers Property Vietnam.
![Card image cap](/uploads/news/economic.jpg)
VIETNAM’S H1 ECONOMIC GROWTH QUITE IMPRESSIVE: ADB COUNTRY DIRECTOR
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 per cent in the first half of this year. The growth was mainly driven by strong trade recovery, where export grew by 14.5 per cent and import by 17 per cent over last year, he told the Vietnam News Agency. However, he said, the domestic segment remained sluggish.
![Card image cap](/uploads/news/Infrastructure13.jpg)
REAL ESTATE FIRMS AGGRESSIVELY RESTRUCTURING BOND DEBT
From the start of 2024 to July 5, the market saw 133 private placements and ten bond public offerings, totalling over VNĐ140 trillion. 65.6 per cent of this value was from the banking sector, while real estate bonds accounted for only 24.6 per cent, or over VNĐ34.5 trillion.
![Card image cap](/uploads/news/Eco2.jpg)
GOV’T UNVEILS ACTION PLAN TO ACCELERATE INDUSTRIALISATION
Vietnam aspires to become among the top three industrial powerhouses in ASEAN, with the industrial sector contributing over 40 per cent to GDP. The manufacturing and processing sector is expected to account for around 30 per cent of GDP, with a strong emphasis on high-tech products aiming for over 45 per cent of the sector's value. To further drive the economy, the service sector is projected to contribute over 50 per cent to GDP, with tourism alone generating 14-15 per cent.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).