Vietnam Debuts Free Trade Area Associated with Seaports
The Saigon New Port Company on May 6 launched the Cat Lai Free Port Zone in Cat Lai Port in Ho Chi Minh City's District 2, becoming the first free trade area associated with seaports in Vietnam to date.
According to Nguyen Dang Nghiem, Director of Saigon New Port Company, exporters, importers and international merchandise traders will freely deal and distribute goods in the zone.
They also will enjoy preferential treatment on services, customs procedures and tax breaks.
Cat Lai Free Port Zone is piloted in the 60-ha Cat Lai Port which last year received more than one million twenty-foot-equivalent units (TEU), making up 51 per cent of the total throughput in TEUs in southern ports, and nearly 40 per cent of the country's total.
Cat Lai Port's output in the first four months of this year was 460,000 TEUs, and is expected to amount to 1,400,000 TEUs this year.
Saigon Times Daily
Vietnamese
