Vietnam's Ministry of Transport is encouraging increased private investment in the country’s ports and plans to scale back its own involvement.
According to a report in The Saigon Times, the Vietnam Maritime Administration will open 41 marine infrastructure projects to private investors, including 19 seaports, which are together expected to need US$1.98bn in private funding.
Furthermore, in an indication of Vietnam's commitment to rolling back government management and ownership of seaports, Minister of Transport Dinh La Thang said the Lach Huyen deepwater port, located in the north and due to be completed in 2016, will be the final port development funded by the state.
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Oliver Massmann, general director and partner at Duane Morris Vietnam LLC, and author of the report Seaport development – Vietnam's new master plan for seaport system development 2020-2030, believes investor appetite is beginning to return.
"I strongly believe that the government of Vietnam has acknowledged the shortcomings," he told The Loadstar.
"Evidence is that they have listened to our review of seaports planning and have decided to shift focus to development of major ports only."
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