HCMC – The Government has given the official go-ahead to the big-ticket Can Gio International Transshipment Port project in HCMC.
Deputy Prime Minister Tran Hong Ha today, January 16, signed a prime ministerial decision approving an investment policy for the project, which will cover 571 hectares of land, including nearly 83 hectares of repurposed forest land.
At least VND50 trillion (almost US$2 billion) would be needed to develop the port in Go Con Cho Islet, Can Gio District, according to the decision.
According to Decision 148/QD-TTg , the Can Gio International Transshipment Port would provide services related to container port operations, seaports, and other associated activities.
The project’s operational duration is 50 years from the date of the investment policy decision being made.
HCMC is tasked with leading the coordination effort with relevant ministries and agencies to conduct tenders for selecting a strategic investor for the project, in compliance with prevailing regulations. The investor will not be allowed to transfer the project within five years from the date of receiving the investment registration certificate.
The port would span over seven kilometers and accommodate the world’s largest container ships of 250,000 DWT (24,000 TEUs), as proposed by MSC Group, one of the world’s leading container shipping lines, according a proposal submitted by the HCMC government. The project would be built near the Cai Mep River estuary at a total investment cost of VND130 trillion (US$5.1 billion).
It would be developed in seven phases, with the first phase expected to be completed by 2027 and the entire project finalized by the end of 2045.
Preliminary calculations by authorities estimate that once fully operational and reaching its designed capacity by 2045, the Can Gio International Transshipment Port could generate annual revenue of VND34-40 trillion. This revenue would come from taxes on cargo handling and storage operations, corporate income tax, maritime fees, and water surface rental fees.
