HCMC's New Port Set to Drive Economic Growth

HCMC's New Port Set to Drive Economic Growth

A forthcoming port in Ho Chi Minh City (HCMC) is projected to make a significant contribution of up to VND40 trillion ($1.69 billion) annually to the national budget, while also generating tens of thousands of employment opportunities. According to a document from the Ho Chi Minh City Department of Transport, the proposed Can Gio Port will span over 7 km and have the capacity to accommodate the largest container ships available today, with a weight of 250,000 DWT, as suggested by container shipping company MSC.

The port, to be constructed on Phu Loi Island within the Cai Mep estuary, is estimated to cost approximately $5.45 billion and will be implemented in seven phases. The first phase is slated for completion in 2027, while the entire project is expected to be finished by 2045. Once fully operational, the port is anticipated to significantly benefit both the local and national economies, contributing an estimated VND34-40 trillion annually to the national budget. The primary sources of these funds would be derived from various taxes and fees.

Additionally, the port is predicted to attract substantial investments from businesses and create direct employment opportunities for around 6,000-8,000 individuals at the port itself, along with generating tens of thousands of indirect jobs in the logistics sector. The volume of goods passing through HCMC ports is projected to increase by an average of over 5% until 2030, with container traffic expected to grow by 6%, as per the municipal transport department. The current seaport container systems have already surpassed their capacity, making the construction of the Can Gio Port crucial for enhancing HCMC’s seaport infrastructure, fostering competitiveness with other countries, and driving the development of Vietnam’s maritime economy.

By 2030, the port’s capacity is estimated to reach 4.8 million TEU (twenty-foot equivalent units), and 16.9 million TEU by 2047. To ensure connectivity, HCMC plans to construct the Can Gio Bridge, linking the Can Gio Port area with the city’s southern transport hub in Nha Be District. Additionally, several bridges on Rung Sac Road will be upgraded to connect with the Ben Luc-Long Thanh expressway, the longest expressway in southern Vietnam, located in Binh Khanh Commune. Authorities are also considering the construction of an elevated road along Rung Sac Road, connecting to the Ben Luc-Long Thanh expressway intersection. Furthermore, after 2030, an urban railway is expected to run along Rung Sac, connecting the Can Gio sea urban area with HCMC’s fourth metro line (Thanh Xuan-Hiep Phuoc urban area) in Nha Be District.

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