Vingroup’s Bold Step into Port Infrastructure: The Nam Do Son Port and Logistics Center
Vingroup, one of Vietnam’s leading conglomerates, has recently made headlines with its ambitious plans to establish the Nam Do Son Port and Logistics Center. This project represents a significant leap into the realm of port infrastructure and logistics, underscoring Vingroup’s intent to enhance the country’s economic landscape.
Project Overview
According to official disclosures from Vingroup, the Nam Do Son Port and Logistics Center will be strategically positioned within the Southern Coastal Economic Zone of Hai Phong. Specifically, the project will span across Kien Hai Commune and Nam Do Son Ward. This location has been chosen for its potential to foster robust economic activities and improve connectivity within Vietnam’s logistics network.
The project is expansive, covering a total area of 4,394.5 hectares. Out of this vast expanse, approximately 4,319.1 hectares will undergo direct investment. This area is planned to encompass not just the port facilities but also vital components such as the water surface in front of the berth and a state-of-the-art post-port logistics center. Additionally, a key shared access road will connect the endpoint of the state-developed post-port route to the project’s outer boundary, ensuring seamless transportation access.
Phased Development Plan
To effectively manage this colossal project, Vingroup has outlined a comprehensive phased development plan. The project is divided into three distinct phases:
-
Phase 1 (2026–2030): This initial phase is crucial for laying the foundation of the port’s infrastructure. With a budget of 29.108 trillion VND (approximately $1.22 billion), this phase aims to establish the essential facilities and amenities necessary for the port’s early operations.
-
Phase 2 (2031–2035): Following the initial groundwork, the second phase marks a significant escalation in investment, with a projected budget of 206.272 trillion VND (around $8.7 billion). This phase will focus on expanding capacity and enhancing operational efficiency within the logistics hub.
-
Phase 3 (2036–2040): The final phase aims to complete the project with a total investment of 138.461 trillion VND (approximately $5.8 billion). By this stage, the Nam Do Son Port and Logistics Center is expected to be fully operational and capable of supporting large-scale logistics and transportation needs.
Financial Commitment and Investment Structure
The total estimated investment for the Nam Do Son project stands at an impressive 373.841 trillion VND (around $15.7 billion). A noteworthy aspect of this investment plan is its breakdown: about 15% will be contributed as capital by Vingroup, while the remaining 85% is intended to be raised through various financing avenues. This strategic approach illustrates Vingroup’s commitment to leveraging both internal resources and external funding to bring this project to fruition.
Operational Vision and Longevity
With an operational duration slated for an incredible 70 years, the Nam Do Son Port and Logistics Center is envisioned as a long-term asset that will support not only the local economy but also enhance Vietnam’s position as a key logistics hub in Southeast Asia. By investing in sophisticated port infrastructure, Vingroup aims to facilitate smoother trade, bolster economic growth, and create numerous job opportunities in the surrounding regions.
In summary, Vingroup’s venture into the Nam Do Son Port and Logistics Center illustrates their strategic foresight and commitment to enhancing Vietnam’s logistics landscape. This project not only represents a significant investment in infrastructure but also signals a transformative approach toward logistics and economic development in the region.
By Duy Anh