HCMC – Ba Ria-Vung Tau Province has signed a memorandum of understanding (MOU) with DP World, a global smart logistics service provider, to explore the development of a free trade zone linked to the Ca Mep Ha port.
The agreement, signed on February 18, establishes a framework for discussions on DP World’s potential role in supporting the province in researching and planning the project, according to the Vietnam News Agency.
Under the MOU, both parties will collaborate on potential cooperation, exchange expertise on design, model development, and operational frameworks, and discuss policy planning for the proposed free trade zone in Phu My City, Ba Ria-Vung Tau.
The discussions will also include plans for port expansion within the free trade zone and the development of an integrated industrial, commercial, and service area within the zone.
The free trade zone in the Cai Mep Ha area is expected to play a crucial role in driving maritime economic development, strengthening the logistics industry, supporting seaports and international trade, and attracting foreign investment.
It is also anticipated to create jobs, improve income and living standards for local residents, and position Ba Ria-Vung Tau as a national maritime economic hub and a leading maritime service center in Vietnam and Southeast Asia.
DP World, headquartered in Dubai (UAE), is one of the world’s largest smart logistics service providers, operating an extensive global port network with over 100,000 employees across six continents.
