Seaport project pilots Public/Private partnership

Haiphong International Seaport will be a pilot Private and Public Partner (PPP) investment project, with the State sourcing funds from Japanese official development assistance.

The project will consist of two packages. The first, valued at US$260 million, will build the seaport infrastructure with loans from the Japanese International Cooperation Agency (JICA). The second, worth US$165 million will be invested in by the Vietnam Shipping Corporation (Vinalines) and will cover the construction of two container ports.

It is the second infrastructure project following the construction of the Dau Giay-Phan Thiet express road at a cost of over VND14.3 trillion  (US$794 million), the Bitexco company will be the investor.

The Head of the Infrastructure and Urban Department under the Ministry of Planning and Investment (MPI), Nguyen Trong Tin, said that with a limited State budget, the PPP model should be a promising and effective solution.

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