Total Investment Demand for Vietnam’s Seaport System by 2030
Vietnam’s ambitious plans for its seaport system are poised to reshape the maritime landscape significantly by 2030. According to MBS Securities, the total investment demand for this vital infrastructure is estimated at an impressive 359.5 trillion VND, approximately $13.8 billion. This investment not only highlights the country’s commitment to enhancing its maritime capabilities but also reflects the anticipated growth in container throughput at its ports.
Allocation of Investment Funds
The investment allocation is strategically divided, with 72.8 trillion VND earmarked for public maritime infrastructure. This allocation is crucial for ensuring that the foundational elements of the seaport system are robust and capable of supporting future demands. The remaining 286.7 trillion VND is set aside for the development of commercial terminals that provide essential cargo-handling services. This division underscores a balanced approach between public investment and private sector growth, which is necessary for fostering a competitive maritime environment.
Growth in Container Throughput
One of the most exciting aspects of this investment initiative is the projected growth in container throughput at Vietnamese ports. MBS Securities anticipates that deep-water ports will particularly benefit, achieving higher efficiency as larger vessels are deployed. This shift is not merely about accommodating bigger ships; it also aims to modernize the infrastructure, further enhancing Vietnam’s competitiveness on the global stage.
Importance of Infrastructure Development
Accelerating investment in seaport infrastructure is seen as pivotal for improving the overall competitiveness of Vietnam’s maritime sector in the medium and long term. By focusing on robust infrastructure, Vietnam is positioning itself as a key player in international trade, enhancing its appeal to global shipping lines and reducing logistics costs for local businesses.
Hai Phong’s Maritime Ambitions
As part of this investment strategy, Hai Phong is set to make significant strides by 2030. The city aims to complete berths at Lach Huyen International Port and further develop the Nam Do Son Port. Additionally, efforts to establish the Northern Hai Phong Economic Zone will integrate the strategic advantages offered by Gia Binh Airport and the connection road networks. These initiatives aim to transform Hai Phong into a regional-scale port city with a targeted throughput of 215 million tonnes, positioning it as a key maritime hub in the region.
Ho Chi Minh City: A Seaport Powerhouse
In the southern region, Ho Chi Minh City emerges as a formidable maritime leader, boasting the country’s most extensive seaport system, now comprising 99 berths. This encompasses offshore oil and gas facilities and accounts for nearly one-third of Vietnam’s total berthing capacity—2.5 times higher than prior to the recent administrative merger. By 2030, Ho Chi Minh City targets a remarkable cargo throughput of around 253 million tonnes, with the container segment expected to reach between 16.25 million and 18.25 million TEUs.
Conclusion
As Vietnam moves towards 2030, the strategic investment in its seaport system represents not only a significant economic opportunity but also a pivotal element in enhancing the country’s global trade competitiveness. With major developments in both Hai Phong and Ho Chi Minh City, the future looks promising for Vietnam’s maritime ambitions. This investment will build a robust maritime infrastructure that supports increased cargo handling, accommodates larger vessels, and positions Vietnam as a critical player in the Southeast Asian shipping industry.