HCMC – HCMC has proposed extending the investment capital disbursement period for the Can Gio International Transshipment Port from five years to 10 years to address obstacles in project implementation.
The HCMC Department of Planning and Investment said that the VND113.5-trillion port project is a strategic maritime economic development for the city.
The project was approved in principle by the Prime Minister in mid-January this year, and by the end of the month, the department had submitted an implementation plan to the HCMC People’s Committee.
However, a major challenge is the five-year capital disbursement requirement under Resolution 98, which is proving difficult for both investors and authorities.
Under current regulations, strategic investors must fully disburse capital within five years from the date of receiving investment approval and are not allowed to transfer the project during this period.
The Department of Planning and Investment argues that the five-year timeframe is not feasible for large-scale infrastructure projects like the Can Gio International Transshipment Port, which requires a phased development approach over multiple years.
The project, with a total investment of VND113.5 trillion, will be developed in seven phases over 22 years, featuring 15-19 berths and four barge terminals. By 2030, it is expected to complete 2-4 berths and two barge terminals, requiring an estimated VND38.5 trillion in investment and handling 28.8-57.6 million tons of cargo.
Given this timeline, the five-year disbursement requirement could disrupt port planning, affect financial strategies, misalign with market demand, and impact the operations of neighboring ports.
To attract capable investors, the HCMC Department of Planning and Investment is collaborating with relevant agencies to advise the HCMC People’s Committee in petitioning the Government and the National Assembly for an adjustment to the regulations.
The proposal suggests a minimum disbursement of VND50 trillion over 10 years from the handover of land and water surfaces, similar to the special mechanism applied to Danang’s Lien Chieu Port.
