Belgian Rent-A-Port N.V. on Wednesday signed a memorandum of understanding (MoU) with Viet Nam National Shipping Lines (Vinalines).

The MoU is on possible co-operation in grain terminal, processing area and logistics system projects in Lach Huyen and general cargo terminal in Dinh Vu in northern Hai Phong City.

Under the MoU, the Belgian firm and Vinalines will jointly explore and study the possibility of a joint venture for developing a grain terminal in the area of Hai Phong International Gateway Port (Lach Huyen). Another joint venture is also in the work to develop a logistics hub with scale of some 250ha opposite the grain terminal to optimise loading and unloading, storing, processing and distributing grain to meet demand.

Rent-A-Port N.V. will also participate in the 630m general cargo terminal project in Dinh Vu. This project has been invested by Vinalines Dinh Vu, with Vinalines holding 51 per cent of charter capital.

In addition, the Belgian firm could acquire 10 per cent of Vinalines charter capital upon its equitisation. As such, Rent-A-Port N.V. would provide support to Vinalines following equitisation in terms of new technology transfer, human resources training, financial improvement and administration, as well as service rendering and market expansion.

With a broad range of port, logistics and industrial infrastructure, management experience and financial ability of both sides, the two companies expect their cooperation will boost competitiveness and help to maintain their key role in Viet Nam’s port and logistics sectors.

Speaking at the signing ceremony, Belgian Ambassador to Viet Nam, Jehanne Roccas said the MoU marked an important step in Viet Nam-Belgium cooperation.

She said Rent-A-Port has also invested into renewable energy, which is getting significant attention in Viett Nam.

Rent A Port N.V. is the “port related” investment and management arm of the Belgian Holding Ackermans & van Haaren, which was founded in 1885 and is one of the largest stock-listed holding companies of Belgium with assets worth 2.7 billion euros.

In Viet Nam, through the Deep-C consortium (including the Belgian Government’s investment), Rent A Port has already invested an amount in excess of US$200 million and has also committed to invest an additional $250 million in the next 10 years in various ports and IZ in provinces of Hai Phong and Quang Ninh.

Vinalines, a leading shipping company in Viet Nam, specialises in seaports and marine services in Hai Phong. Two projects – the Vinalines Lach Huyen general cargo port and seaport and the logistics services at Hai Phong International Gateway Seaport in Lach Huyen (via Hai Phong Port Joint Stock Company) -- are Vinalines priorities in the future. — VNS