Vietnam Needs US$3.8Bln to Develop Seaports by 2010

Vietnam Needs US$3.8Bln to Develop Seaports by 2010

Vietnam is estimated to need VND60 trillion (US$3.8 billion) to develop, restore and upgrade its seaport system by 2010, according to a seaport development master plan ratified recently by the Prime Minister.

The Vietnamese maritime sector has so far mobilized VND5.2 trillion (US$329.11 million) for the plan, accounting for only 8 per cent of needed capital.

The sector is outlining plans to call up official development assistance (ODA) sources and other sources. It is also mapping out a new mechanism for seaport infrastructure investment management.

Under the master plan, restoration, expansion and upgrading of 10 key seaports namely Cai Lan, Haiphong, Cuu Lo, Danang, Nha Trang, Quy Nhon, Saigon, Can Tho, Thi Vai and Dung Quat will take place to serve social economic development in the 2001-2005 period. The maritime sector will also build deepwater seaports in the three key economic zones in the north, southern and central region and construct the Van Phong international transshipment port.

According to official statistics, Vietnam now has 119 seaports.

In 2004, 127.67 million tons of commodities were transported via Vietnamese seaports, up 11.96 per cent on year.

Vietnam Economic Times