New step forward at the "super" project of Can Gio International Transit Port

There are many signs that the investment policy for the Can Gio International Transit Port Project, proposed by the consortium of Saigon Port Joint Stock Company - Terminal Investment Limited Holding SA, will soon be approved by competent authorities.

There are many signs that the investment policy for the Can Gio International Transit Port Project, proposed by the consortium of Saigon Port Joint Stock Company - Terminal Investment Limited Holding SA, will soon be approved by competent authorities.

Perspective of Can Gio International Transit Port.

Designation for super port

If nothing changes, this week, Deputy Prime Minister Tran Hong Ha will chair a meeting to approve the investment policy of the Can Gio International Transit Port Project. This will likely be the final meeting and review before the Prime Minister considers and approves the investment policy of this mega project.

In Official Dispatch No. 10366/BKHĐT - ĐTNN sent to the Government Office early last week, regarding the review of the draft decision approving the investment policy of the Project, the Ministry of Planning and Investment officially identified this super seaport infrastructure project.

It is known that in the application for investment policy approval, the consortium of Saigon Port Joint Stock Company - Terminal Investment Limited Holding SA proposed the project name as Saigon Gateway International Transit Port. However, to ensure consistency with the name in Resolution No. 81/2023/QH15 on the National Master Plan for the period 2021 - 2030, with a vision to 2050; Resolution No. 98/2023/QH15 on piloting specific mechanisms and policies for the development of Ho Chi Minh City; Project for studying and building Can Gio International Transit Port, Ho Chi Minh City People's Committee and the Ministry of Planning and Investment agreed to record the project name as "Can Gio International Transit Port".

Previously, in early December 2024, the Ministry of Planning and Investment sent Appraisal Report No. 10120/BC - BKHĐT to the Prime Minister on the appraisal results (second report) of the Dossier requesting approval of the investment policy of the Can Gio International Transit Port Project.

Appraisal report No. 10120, the Ministry of Planning and Investment recommends that the Prime Minister consider approving the conditional investment policy for the Project with the contents in Clause 1, Article 3, Investment Law.

Among the conditions for investment policy approval, it is noteworthy that investors can only implement the project after the project is in accordance with the planning at all levels and the competent authority has decided on the policy of changing the purpose of forest use to another purpose; changing the purpose of forest land to another purpose; completing environmental protection procedures; procedures and conditions on technology used in the project according to the provisions of law on technology and technology transfer.

Investors are not allowed to transfer the project within 5 years from the date of issuance of the investment certificate. Changes in investors after this period must comply with the provisions of law and must be approved by the Ho Chi Minh City People's Committee.

In addition, investors must also obtain approval from the Ministry of National Defense, the Ministry of Public Security and relevant agencies in case of issues related to national defense and security arising in project transfer or transfer of capital contribution, controlling shares, transfer of capital contribution, shares to foreign investors in the implementing organization...

Regarding the tasks that the Ho Chi Minh City People's Committee will have to undertake, it is noteworthy that this locality will have to preside over and coordinate with ministries and branches to research and develop criteria and conditions in the dossier for selecting investors to implement the Project, including reviewing the land use scale of the Project to ensure compliance with regulations on standards, technical regulations on construction and national standards on seaports, financial capacity of investors, investment and development plan (including determining factors for the 5-year period, up to 2030), total investment capital of the Project, investment roadmap, connecting infrastructure system, technology, green port criteria, conditions on national defense and security... according to the Project for researching and building Can Gio International Transit Port.

Regarding the organization of bidding to select investors, the Ministry of Planning and Investment recommends that the Prime Minister assign the Ho Chi Minh City People's Committee to preside over and coordinate with relevant ministries and branches to conduct bidding to select strategic investors to implement the project in accordance with the provisions of the law on bidding and Resolution No. 98/2023/QH15, Resolutions amending and supplementing Resolution No. 98/2023/QH15 (if any). In which, attention should be paid to issues of national defense, security, environment, investor capacity, criteria, and solutions for effective exploitation of the project, avoiding internal competition among Vietnam's seaports, ensuring publicity, transparency, quality, and efficiency.

The selected investor to implement the Project, in addition to ensuring sufficient equity capital to implement the project according to the committed schedule; depositing or having a bank guarantee for the deposit obligation to ensure project implementation; implementing the project according to the approved schedule, must commit to ensuring the correct ratio of transit cargo exploited at the Project, not affecting the operations of neighboring ports and seaports.

Many advantages

In the Appraisal Report No. 5590/BC - BKHĐT sent to the Government leaders in July 2024, Minister of Planning and Investment Nguyen Chi Dung affirmed that the Can Gio International Transit Port Project, when successfully implemented, will supplement the potential of the existing seaport system, support and best exploit the potential of seaport cluster No. 4 to become an international transit center.

“The project not only affirms Vietnam's position and national positioning on the international maritime map as a major regional and global transport and logistics hub, but also helps Vietnam become an important link for socio-economic development, effectively supporting import-export trade activities, ensuring national defense, security and maritime economy,” Minister Nguyen Chi Dung assessed.

However, to achieve the above important goals, the Can Gio International Transit Port Project, in addition to great political determination and quick implementation time to seize opportunities, the participation of an international investor with financial capacity, especially experience in seaport exploitation, plays a decisive role.

Up to this point, both units in the consortium proposing the Can Gio International Transit Port Project have basically met expectations, in which Saigon Port Joint Stock Company is a member unit of Vietnam National Shipping Lines - VIMC (the largest seaport operator in Vietnam) and Terminal Investment Limited Holding SA-TIL is a member unit of the world's largest shipping line - Mediterranean Shipping Company - MSC.

Mr. Pham Anh Tuan, Deputy General Director of VIMC, said that MSC is the world's largest shipping company, headquartered in Geneva (Switzerland). This shipping company has a fleet capacity of over 23 million TEU/year, accounting for 18% of the total transport capacity of the world's fleet. MSC's service routes are connecting to more than 500 global seaports.

According to VIMC leaders, currently, goods from countries in the region such as Cambodia, Thailand, Brunei, Southern China and the Philippines are mainly transited in Singapore or Malaysia. In case goods from the above countries in the region are transited in Can Gio, the transportation distance is reduced by about 30 - 70% compared to when arriving in Singapore.

“The proposed location for the construction of Can Gio International Transit Port clearly has many competitive advantages, attracting international goods from countries in the region,” said Mr. Pham Anh Tuan.

It is known that MSC is very determined for the Can Gio International Transit Port Project. During the meetings, MSC confirmed that it has plans to relocate part of the shipping line's transit operations to Vietnam, build an international transit port, and form a transit center in Vietnam.

The total volume of cargo through the port that MSC is expected to invest in could reach about 4.8 million TEUs in 2030 and about 16.9 million TEUs in 2047, with the goal of exploiting mostly international transit cargo distributed by the Company.

“This is a very good and favorable foundation to turn Can Gio into an international gateway transit port in the region; at the same time, it does not affect the exploitation of existing seaports,” said Mr. Nguyen Xuan Sang, Deputy Minister of Transport.

Currently, the only sticking point in the Can Gio International Transit Port Project that will likely need to be resolved by the National Assembly is the progress of the Project implementation.

In the Project proposal, the consortium of Saigon Port Joint Stock Company - Terminal Investment Limited Holding SA proposed to implement the Project in 22 years in 7 phases. However, according to the provisions of Resolution No. 98/2023/QH, the investor will have to disburse the entire total investment capital within 5 years.

According to the Ministry of Planning and Investment, this requirement will create financial pressure and disbursement progress for investors, and is not suitable for the needs and absorption capacity of the market, disrupting the seaport planning for the period 2021 - 2030, with a vision to 2050, and directly affecting neighboring seaport projects.

At present, to ensure compliance with Resolution No. 98/2023/QH15, the Ministry of Planning and Investment proposes that the Project progress will still follow the provisions at Point b, Clause 9, Article 7, Resolution No. 98/2023/QH15.

“In case the National Assembly approves the amendment of Point b, Clause 9, Article 7, Resolution No. 98/2023/QH15 according to the proposal of Ho Chi Minh City, it will simultaneously assign the Ho Chi Minh City People's Committee to adjust the project implementation progress without having to re-implement the procedure for adjusting the approval in principle,” Appraisal Report No. 10120 stated.

Source: https://baodautu.vn/buoc-tien-moi-tai-sieu-du-an-cang-trung-chuyen-quoc-te-can-gio-d234993.html