Vietnam's largest private conglomerate Vingroup announced a major investment plan on August 6 to spend 373.84 trillion VND (about 102.3 billion yuan) to build Nam Do Son port and logistics center in Hai Phong, an important port city in northern Vietnam. This mega infrastructure project will be an important engine for the economic development of Vietnam's northern region.

As the largest seaport city in northern Vietnam, Hai Phong Port currently manages and operates five major port areas: Hoang Yao, Ci Pao, Dinh Vu, Tan Vu and Le County, with a cargo throughput of 170 million tons in 2023. With the continuous growth of Vietnam's foreign trade, Hai Phong Port's cargo throughput maintains an average annual growth rate of 12% to 15%, expected to reach 212 million tons in 2025.

The planned Nam Tu Son Port and Logistics Center is located in the southern coastal economic zone of Hai Phong, covering an area of 4,400 hectares with a period of 70 years of operation. The project will be built in three phases: the first phase of the project will invest about 8 billion yuan from 2026 to 2030, the second phase of the project from 2031 to 2035 will be 56.5 billion yuan, and the third phase of the project will invest 38 billion yuan from 2036 to 2040. Vingroup will directly contribute 15%, and the rest of the funds will be settled through external financing.

According to Vietnam's national port system development plan, Nam Tu Son Port will have the capacity to receive and unload 18,000 TEU super-large container ships, 200,000-ton bulk carriers and 150,000-ton LNG ships after completion, greatly enhancing Vietnam's international shipping competitiveness. As Vietnam's largest private conglomerate, Vingroup's business covers various sectors such as real estate, automobile manufacturing, retail, healthcare, and sports, and this investment will further strengthen its leading position in Vietnam's infrastructure construction sector.(This article is from the official website of Jiandao www.seetao.com it may not be reproduced without permission, otherwise it will be investigated, please indicate the reprint of Jiandao.com + original link) See the editor of the dry port column of Jiandao.com/Gao Xue