On March 27, the Ho Chi Minh City People's Committee urgently sent a document to the Government on the proposal to amend and supplement Point b, Clause 9, Article 7 of Resolution No. 98 of the National Assembly on piloting specific mechanisms and policies for the development of Ho Chi Minh City.
According to the Ho Chi Minh City People's Committee, Point b, Clause 9, Article 7 of Resolution No. 98/2023/QH15 of the National Assembly stipulates: Investment capital must be disbursed within 5 years from the date of issuance of the Investment Registration Certificate or the Decision approving the investment policy. During this time, strategic investors are not allowed to transfer projects.
According to the Ho Chi Minh City People's Committee, the Can Gio international transit port project is proposed for investment by a joint venture between Saigon Port Joint Stock Company and Terminal Investment Limited Holding S.A (a member company of the world's largest shipping line MSC).
The investor proposed a project with a total investment of more than VND 113,500 billion (equivalent to USD 4.8 billion), divided into 7 investment phases with an implementation period of 22 years.
The project plans to organize the implementation of investment in port construction and exploitation in the period before 2030 from 2 to 4 wharf areas (expected cost of about VND38,500 billion), the next period (from 2030 to 2045) will continue to study and complete investment according to the approved planning by competent authorities (from 13 to 15 wharf areas, expected cost of about VND89,500 billion).
The proposal for investors to complete investment in all ports and speed up disbursement within 5 years risks disrupting the project's financial plan, not in accordance with market demand and absorption capacity, violating the detailed planning of seaports, wharves, wharves, water areas, and water areas for the period 2021-2030, with a vision to 2050, and directly affecting the operations of neighboring ports has been calculated according to the approved plan.
In order to attract strategic investors with financial capacity and project investment experience, the Ho Chi Minh City People's Committee reported and recommended that the Government submit to the National Assembly for consideration and adjustment of Point b, Clause 9, Article 7, Resolution No. 98 of the National Assembly as follows:
Investment capital must be disbursed (minimum equal to the capital prescribed in Clause 1 of this Article) within 10 years from the date of handover of land and water surface on site. During this time, strategic investors are not allowed to transfer projects".
According to the decision approved by the Prime Minister, the Can Gio international transit port project will be implemented on Con Cho islet, Can Gio district (HCMC).
The project has a scale of 571 hectares of land, the total investment cost according to the proposed investment is not less than 50,000 billion VND. The project's operation period is 50 years from the date of the investment policy decision.
When put into operation, Can Gio international transit port will add capacity to the Cai Mep - Thi Vai port system, making this area a leading international cargo transit center in the world.
The project is expected to create jobs for 6,000 - 8,000 workers directly at the port, along with tens of thousands of workers in the fields of logistics services, logistics and related industries.
