Vietnam’s Ambitious Cai Mep Ha Port Development: Thaco’s Strategic Move
Author: Hai Yen
Date: Thu, August 28, 2025 | 6:02 PM GMT+7
Vietnam’s logistics landscape is buzzing with excitement as the industrial giant Truong Hai Group (Thaco) announces plans to invest in the Cai Mep Ha port project in Ho Chi Minh City. This significant move is strategically positioned to capitalize on the burgeoning logistics sector in the country.
Thaco’s Vision for Cai Mep Ha
In a recent proposal to the Ho Chi Minh City authorities, Thaco outlined how the Cai Mep Ha project aligns with its long-term strategic goals. After completing initial studies and the necessary documentation, Thaco is eager for approval to embark on this transformative venture. This proposed port would be Thaco’s second investment in maritime infrastructure, building upon its prior success with the Chu Lai port in Quang Nam province.
The Significance of Cai Mep Ha
Nestled within the Cai Mep-Thi Vai port complex, Cai Mep Ha is earmarked as a crucial international gateway under Vietnam’s national seaport development plan up until 2030. Its advantageous location at Tan Phuoc ward—formerly part of Phu My township in Ba Ria-Vung Tau province—positions it strategically amidst a newly formed Ho Chi Minh City, which now encompasses Ba Ria-Vung Tau and Binh Duong.
Illustration of the Cai Mep Ha container and general port project in former Ba Ria-Vung Tau province (now part of the new Ho Chi Minh City). Photo courtesy of the investor consortium.
A Competitive Landscape for Investments
Over the years, the Cai Mep Ha project has captured the interest of numerous investors, including a consortium led by Geleximco-ITC-SCIC, IMG Innovations, Tan Dai Duong International, and Sun Group. One notable proposal from the Geleximco-led group suggests a sprawling development covering 351 hectares, featuring 17 terminals capable of handling a whopping 10.8 million Twenty-foot Equivalent Units (TEUs) annually.
These plans further detail the incorporation of container yards, warehouses, cargo irradiation facilities, and essential supporting infrastructure. With an ambitious estimated investment of VND 50.8 trillion (approximately $1.9 billion) spread over three phases, the project aims to fundamentally enhance the region’s logistics capabilities.
Exceeding Expectations in Capacity
Currently, the Cai Mep-Thi Vai complex boasts seven operational container terminals, collectively designed to handle up to 7.66 million TEUs per year. However, recent data reveals a consistent trend of throughput exceeding this capacity, averaging over eight million TEUs annually in recent years. Remarkably, the terminals experienced a record throughput of 10.98 million TEUs in 2024, primarily attributed to the efficiency and demand seen at the Cai Mep terminals.
A Growing Logistics Industry
The growth of Vietnam’s logistics sector is nothing short of remarkable, with annual increments ranging between 14% to 16% in recent years. The industry is expected to surpass a market size of $45 billion by the close of 2024. Reflecting this growth, the World Bank has positioned Vietnam 43rd out of 155 countries and territories in its Logistics Performance Index (LPI). This ranking places Vietnam among the top five ASEAN countries, sharing the spotlight with regional heavyweights like Singapore, Malaysia, Thailand, and the Philippines.
The Road Ahead
As Vietnam’s logistics industry continues to flourish, investments like Thaco’s in the Cai Mep Ha port project represent a pivotal leap toward establishing the country as a key player in international trade and logistics. With a clear vision and strategic investments, Vietnam is poised to make significant advancements in its infrastructure, aimed at accommodating the growing demand for logistics services.