Vietnam to build first transshipment port as economy expands

Vietnam will build a $3.6 billion international transshipment terminal port, the country’s first, as economic growth boosts container trade.

Vietnam National Shipping Lines, the state company also known as Vinalines, will start the project in the southern coastal province of Khanh Hoa by the end of this month, Le Trieu Thanh, deputy general director, said in a phone interview Thursday. Construction may be completed after 2020, he said from Hanoi.

The new port will be able to accept ships with a capacity of as much as 17,000 twenty-foot boxes, Thanh said. Vietnam, India and other emerging economies in Asia are expanding port facilities as economic growth in the region helps them avoid a global recession.

Vietnam’s growth will accelerate next year, the Ministry of Finance said earlier this week. The government is targeting a rate of 6.5 percent next year, the central bank said last month.

thanhnien, bloomberg

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