The Bloomberg report also claimed that the country is facing a US$4 billion shortfall in developing its ports with no major projects nearing completion in the near future. Overcoming such an issue can prove to be a daunting task as the cases of early developers such as Japan and Korea have shown.
A high-ranking Vinalines official told the Vietnam News Agency the inauguration of Lach Huyen deep-sea port near Hai Phong City has significantly increased northern region's shipping capacity. In the southern region, port complex Cai Mep-Thi Vai in Ba Ria-Vung Tau Province is and will be able to meet with the country's rising demand in years to come, reports Hanoi's Viet Nam News.
'Some 18 million TEU of goods passed through Vietnamese ports every year,' said the Vinalines official. 'We anticipated this figure to reach 30-40 million in 2030. By that time, the country must have a number of additional ports built in both the northern and the southern regions.'
According to the Vietnam Maritime Administration, the country has more than 1,500 ships with a total capacity of 7.8 billion tonnes, ranking 4th in ASEAN and 30th in the global fleet ranking. With an average age of 15.6 years old, the Vietnamese fleet has seen rapid growth in recent years from 19 ships in 2013 to 39 ships this year.
There are some 281 ports operating across the country with a total capacity of 550 million tonnes per year. Major ports in the key logistics region include Hai Phong City, Ba Ria-Vung Tau and HCM City, which have seen a significant upgrade in infrastructure to be able to receive ships with up to 30,000 dwt. In addition, the central region ports of Da Nang and Cam Ranh have also seen rapid growth in recent years, according to a report on logistics by the administration.