HÀ NỘI — Deputy Prime Minister Trần Hồng Hà has signed a decision approving an investment policy for the Cần Giờ International Transshipment Port project. 

The port will be located on the Gò Con Chó islet in HCM City's Cần Giờ District and covers an area of about 571 hectares. It is designed to provide services related to container port operations, seaports and other associated activities.

Following the investor's proposal, the Prime Minister assigned the HCM City People's Committee to direct specialised agencies to determine the total investment capital of the project. The estimated capital is expected to be at least VNĐ50 trillion (US$2 billion).

As part of the decision, the Government has approved the conversion of nearly 83 hectares of forest land for the project. 

The investor for the project will be selected under current regulations, with a project duration of 50 years from the date of investment approval. 

The HCM City Department of Transport emphasised the need to develop the Cần Giờ International Transshipment Port by 2030. 

Developing the shipping port would bolster the city’s connectivity, enhance regional competitiveness and create a breakthrough in the growth of the maritime economy for the key southern region and the whole country.

At full capacity, the port is expected to generate VNĐ34-40 trillion annually for the State budget, according to the Department. 

This revenue would come from taxes on cargo handling and storage operations, corporate income tax, maritime fees, water surface rental fees and import-export duties.

It is also expected to directly create up to 8,000 jobs at the port and tens of thousands of other jobs in logistics services, logistics centres and duty-free zones.

Preliminary projections estimate the port's cargo throughput would reach 4.8 million TEUs by 2030 and 16.9 million TEUs by 2047. — VNS