A groundbreaking ceremony held by the Vina-Japan Shirogane Logistics Company at the Phu My 3 Specialised Industrial Park in Ba Ria-Vung Tau province (Photo: VNA)Ba Ria-Vung Tau (VNS/VNA) - The southern province of Ba Ria-Vung Tau has set a goal to developlogistics into a major service sector with a focus on seaport development.
The Vung Tau Shipbuilding and OilServices Joint-Stock Company will invest in the new logistics centre andcontainer port.
Located in Phu My commune, the CaiMep Ha logistics centre will have a total area of 1,200ha, with an estimated investment of 40trillion VND (1.72 billion USD).
The Cai Mep Ha container portwill be developed on an area of 86.6ha with total investment of 10trillion VND (430 million USD).
As a sea-based economy, theprovince wants to increase the current capacity of its seaports,improve international transshipment services, and achieve throughput capacityof more than 100 million tonnes in coming years.
The province will also continueto upgrade roads to improve connectivity and enhance goods and servicecirculation, local authorities have said.
By 2020, the province is expectedto have 18 port operators and 219 logistics companies, contributing around 94trillion VND (4.04 billion USD) to GDP and 47.1 percent to the servicesector.
Seaports in Vung Tau city by 2030will be capable of handling 140 to 275 million tonnes of goods, according toauthorities.
Under a master plan for thelogistics industry, the province will create favourable conditions for seaportand logistics service providers to meet regional standards.
The master plan calls forbusinesses in service and market development sectors to join the supply chainsof key products like oil and gas, energy, industrial equipment, supportingindustries, and building materials, among others.
Ba Ria-Vung Tau province isa major gateway for international shipments in Southeast Asia, especiallybecause of the Cai Mep-Thi Vai port complex, one of the key ports in theregion.
The port system is one of only 19in the world capable of handling 190,000 deadweight tonnage (DWT) vessels.
Container ships from the portcomplex are capable of transporting goods to Europe and North America. Inaddition, the province is only 70km from HCM City’s Cat Lai port.
To improve connectivity,efficiency and port capacity, the province also plans to increase investment interminals and road infrastructure.
Infrastructure investments inrecent years have increased connectivity within the province and withneighbouring economic hubs like HCM City and Dong Nai province.
By the end of last year, theprovince had 315 foreign direct investment (FDI) projects with total registeredcapital of 27 billion USD, and 450 domestic projects with total registeredcapital of more than 11 billion USD.
Last year, FDI flow reached 1.5billion USD in 29 new and seven existing projects.
In the first seven months, theprovince emerged as the third largest destination of foreign investment, justbehind Hanoi and HCM City.
Total registered capital reached 2.15billion USD, accounting for 9.4 percent of total FDI investment in Vietnam. Theprovince aims to attract 4 billion USD in FDI by 2020.
To meet its target, theprovincial government plans on more investor-friendly reforms in manyareas.
In addition, it also plans toincrease investment in distribution networks, technology transfer, skilldevelopment, and funding for small- and medium-sized enterprises.
The four key sectors in theprovince include seaport logistics, high-tech industrial production, tourism,and high-tech agriculture.
Other areas of opportunities forinvestors include food processing, shipbuilding, traffic infrastructure, andmetallurgy-mechanical engineering.
Located in the southern keyeconomic zone, which contributes nearly 8 percent to the national GDP and 10 percentto State revenues, Ba Ria-Vung Tau is one of the country’s majorinvestment destinations.
In the last decade, rapideconomic growth has resulted in the province having the highest GDP per capitaand the third highest living standard in Vietnam.-VNS/VNA
The Vung Tau Shipbuilding and OilServices Joint-Stock Company will invest in the new logistics centre andcontainer port.
Located in Phu My commune, the CaiMep Ha logistics centre will have a total area of 1,200ha, with an estimated investment of 40trillion VND (1.72 billion USD).
The Cai Mep Ha container portwill be developed on an area of 86.6ha with total investment of 10trillion VND (430 million USD).
As a sea-based economy, theprovince wants to increase the current capacity of its seaports,improve international transshipment services, and achieve throughput capacityof more than 100 million tonnes in coming years.
The province will also continueto upgrade roads to improve connectivity and enhance goods and servicecirculation, local authorities have said.
By 2020, the province is expectedto have 18 port operators and 219 logistics companies, contributing around 94trillion VND (4.04 billion USD) to GDP and 47.1 percent to the servicesector.
Seaports in Vung Tau city by 2030will be capable of handling 140 to 275 million tonnes of goods, according toauthorities.
Under a master plan for thelogistics industry, the province will create favourable conditions for seaportand logistics service providers to meet regional standards.
The master plan calls forbusinesses in service and market development sectors to join the supply chainsof key products like oil and gas, energy, industrial equipment, supportingindustries, and building materials, among others.
Ba Ria-Vung Tau province isa major gateway for international shipments in Southeast Asia, especiallybecause of the Cai Mep-Thi Vai port complex, one of the key ports in theregion.
The port system is one of only 19in the world capable of handling 190,000 deadweight tonnage (DWT) vessels.
Container ships from the portcomplex are capable of transporting goods to Europe and North America. Inaddition, the province is only 70km from HCM City’s Cat Lai port.
To improve connectivity,efficiency and port capacity, the province also plans to increase investment interminals and road infrastructure.
Infrastructure investments inrecent years have increased connectivity within the province and withneighbouring economic hubs like HCM City and Dong Nai province.
By the end of last year, theprovince had 315 foreign direct investment (FDI) projects with total registeredcapital of 27 billion USD, and 450 domestic projects with total registeredcapital of more than 11 billion USD.
Last year, FDI flow reached 1.5billion USD in 29 new and seven existing projects.
In the first seven months, theprovince emerged as the third largest destination of foreign investment, justbehind Hanoi and HCM City.
Total registered capital reached 2.15billion USD, accounting for 9.4 percent of total FDI investment in Vietnam. Theprovince aims to attract 4 billion USD in FDI by 2020.
To meet its target, theprovincial government plans on more investor-friendly reforms in manyareas.
In addition, it also plans toincrease investment in distribution networks, technology transfer, skilldevelopment, and funding for small- and medium-sized enterprises.
The four key sectors in theprovince include seaport logistics, high-tech industrial production, tourism,and high-tech agriculture.
Other areas of opportunities forinvestors include food processing, shipbuilding, traffic infrastructure, andmetallurgy-mechanical engineering.
Located in the southern keyeconomic zone, which contributes nearly 8 percent to the national GDP and 10 percentto State revenues, Ba Ria-Vung Tau is one of the country’s majorinvestment destinations.
In the last decade, rapideconomic growth has resulted in the province having the highest GDP per capitaand the third highest living standard in Vietnam.-VNS/VNA
VNA
