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Japanese investors eye ports
Japanese investors are eyeing deep-water sea ports in Viet Nam as well as high-speed railway and highways, the Dau Tu (Investment) newspaper has reported.
Itochu Group, a Japanese investor, has already submitted a proposal to the Ministry of Transport on co-operation with Vinalines to develop the Lach Huyen Seaport in Hai Phong.
Under the proposal, the Japanese investor would invest US$160 million to build two wharves for container ships. The Vietnamese Government would have to invest $260 million in infrastructure development around the seaport, the newspaper said.
The seaport, if developed, would be the largest in the north - comprising of a total of 11 wharves with an annual capacity of 35 million tonnes of cargo.
Vinalines is very interested in working with Japanese port investors to learn about the development and operation of deep-water seaports, said Vinalines Chairman and General Director Duong Chi Dung.
Besides the Lach Huyen Seaport, Vinalines is seeking investment from Japan to build and manage the Van Phong deep - water seaport in Khanh Hoa Province, the largest in East Asia with 41 wharves.
If the co-operation between Vinalines and Itochu went ahead, it would be the first local seaport financed by a private Japanese investor, Deputy Minister of Transport Ngo Thinh Duc was quoted as saying.
Some other large transport enterprises in Japan, including Mitsui OSK Lines, had proposed leasing the Cai Mep-Thi Vai Seaport when its construction finished in 2012, he added.
Japan is the largest donor of foreign aid to Viet Nam and has already contributed to upgrading Cai Lan, Hai Phong, Tien Sa, Sai Gon and Cai Mep-Thi Vai seaports.
Nguyen Ngoc Hue from the Marine Department has said Viet Nam needs at least $56 billion to build and upgrade seaport infrastructure before it will have a developed sea economy. But the State could only finance 12-15 per cent of the total development, Hue added.
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