Want to be in the loop?
subscribe to
our notification
Business News
HCM CITY PORT STOPS RECEIVING IMPORTS AS CONTAINERS PILE UP
Tân Cảng - Cát Lái Port in HCM City’s newly created Thủ Đức city will temporarily stop accepting imports by businesses that have suspended production so that it can clear a huge backlog of containers that have piled up.
In an announcement, the Tân Cảng Sài Gòn (Sài Gòn New Port) Corporation said the pileup has been caused by firms reducing or suspending production since the city’s lockdown began.
In the period, starting July 9, the number of trucks coming to the port to pick up cargo has declined sharply, and the number of containers stuck has climbed to nearly 100 per cent of capacity.
The port is also facing a shortage of employees, with the number halving to 250, exacerbating the pileup.
Nguyễn Phương Nam, the corporation’s deputy general director, said customers who have suspended production should stop importing goods through the port for the time being, though it would still receive them if the goods are already en route.
As for exports, oversized and excessively heavy goods and refrigerated cargo will also not be accepted until at least August 16.
Shipping companies have been told to persuade their customers to change the destination to Tân Cảng - Hiệp Phước Port in the city’s Nhà Bè District or to Tân Cảng - Cái Mép International Terminal or Tân Cảng - Cái Mép Thị Vải Terminal in neighbouring Bà Rịa - Vũng Tàu Province.
The corporation has called on shippers to provide the estimated number of containers with imports and empty brought by vessels docked at its port in the next two weeks so that it can proactively rearrange space.
If the number of containers stockpiled reaches the port’s maximum capacity, the port will have to stop receiving cargo.
The corporation has called on the city Department of Customs to seek the General Department of Việt Nam Customs’ instructions for dealing with the backlog at the port.
Nguyễn Xuân Sang, director general of the Việt Nam Maritime Administration, said his agency has proposed solutions to the Ministry of Transport to resolve the urgent problems at the port.
VMA had opened a hotline at 0903 772 683 to receive calls so that it could support import-export companies and goods owners with loading and unloading of goods at the port.
It has also set up a command centre under the VMA, HCM City branch, to co-ordinate with port operators, shipping operators and other relevant agencies to quickly handle problems and ensure smooth operation of all ports.
It has instructed port authorities across the country to make plans to receive goods to prevent a similar situation.
Ports handle about 40 per cent of the country’s imports and exports.
Source: VNS
Related News
REVISING VIETNAM'S ECONOMIC STRATEGY FOR NEW ERA
The period of 2024-2025 is important as Vietnam completes its 2021-2025 development plan. Revising economic strategies and policies to address climate change and global uncertainties is an extremely important task.
FOREIGN INVESTMENT ROOM DELIVERS MIXED PICTURE AT BANKS
While the foreign ownership limit at several top-tier banks has almost reached its cap with a desire for further expansion, other banks have significant room for international investment. Among the 27 listed commercial banks, 14 have foreign ownership rates exceeding 15 per cent of their charter capital.
DRIVING SUSTAINABLE IP DEVELOPMENT TO ATTRACT STRATEGIC INVESTORS
As a result, major strategic investors like Honda, Toyota, Samsung and Signetics have explored opportunities in Vinh Phuc, offering support for energy cooperation, "Net Zero" commitments, and green investment to boost sustainable development and add value to the local economy.
INNOVATING TECH INFRASTRUCTURE TO ENHANCE BANKING SECURITY
Vietnam's banking technology infrastructure has advanced significantly, improving performance and meeting customer needs in the digital age. However, further innovation is needed to sustainably grow and meet rising market demands.
SINGAPORE CRACKS DOWN ON ILLEGAL LENDING OPERATIONS
Preliminary investigations reveal that five individuals are accused of harassment and intimidation of borrowers, while 40 others are suspected of aiding loan sharks through ATM transactions. Another 50 suspects allegedly assisted illegal lenders by opening and using their personal bank accounts.
DRIVING SUSTAINABLE IP DEVELOPMENT TO ATTRACT STRATEGIC INVESTORS
As a result, major strategic investors like Honda, Toyota, Samsung and Signetics have explored opportunities in Vinh Phuc, offering support for energy cooperation, "Net Zero" commitments, and green investment to boost sustainable development and add value to the local economy.