Fri. May 27th, 2022

Vietnam has invited investment and cooperation from other ASEAN
countries in maritime shipping, sea port and logistics services in the
context of the global economic crisis which affects the maritime
shipping sectors in the region.

At the 11th ASEAN Ports and
Shipping conference recently held in Ho Chi Minh City, the Head of the
Vietnam Maritime Administration under the Ministry of Transport, Nguyen
Nhat said Vietnam is ramping up seaport infrastructure and logistics
services with the goal of turning maritime shipping into one of the top
sea-based economic sectors after 2020, contributing 53-55 percent of the
country’s gross domestic product ( GDP ).

A World Bank report
last year ranked Vietnam 53rd among 155 countries and territories
in terms of logistics performance. Foreign firms dominate the market,
holding 70 percent of market share.

With a high annual growth rate of 20-25 percent, Vietnam ’s logistics market is still attractive to investors.

The country now has 42 seaports with 401 wharves which are able to
accommodate container ships of up to 80,000-100,000 DWT. Notably, the
Cai Mep-Thi Vai seaport in southern Ba Ria-Vung Tau province is working
on a pilot project with the aim of receiving 150,000 DWT ships.

At the same time, Vietnam will also quicken administrative reforms
in related fields and devise legal documents and strategies in line with
Vietnam ’s law and international conventions to which the country is
a member.

Vietnam has joined 22 international conventions,
treaties and protocols, and signed 22 bilateral maritime pacts with many
countries.-VNA

By vivian