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Vietnamese ports to see $4.5bn investment

Vietnamese ports to see $4.5bn investment

Hanoi: Vietnam's port infrastructure is expected to see a $4.5bn investment over the next five years with a "corresponding investment in landside infrastructure," APL Vietnam md Tan Hua Joo, told reporters yesterday. The country, which joined the World Trade Organisation in January, anticipates a 25% year on year increase in cargo volumes. Last year it's ports saw a 21.6% increase in cargo handled to 3.71m teu.

Vietnam's ports have already been struggling to cope with current throughput. "Congestion in Ho Chi Minh City is a major concern during the period of 2007-2009," Joo said highlighting obsolete equipment, low productivity, poor road quality and shallow entry drafts as areas that needed attention to cope with the growing trade.

Joo urged the Government to divert investments from ports in Vietnam's central region to those on the far ends of the country that have already proved popular on international trade routes. "New port developments must be focused on the key cargo origins of Ho Chi Minh City and Haiphong," he added.  [20/09/07]