Foreign investors called for investing in Van Phong Port

Deputy Prime Minister Hoang Trung Hai has instructed the Ministry of Transport to design a plan to call for foreign investors to invest in the construction of the Van Phong International Entreport.

According to the Government Office, the Ministry of Planning and Investment, Ministry of Finance, the Van Phong Economic Zone Management Board and related agencies will join hands to develop this plan.

The Deputy PM asked the Vietnam Shipping Lines Group, Vinalines, to raise capital and develop this project. He also requested the project developer to choose capable conductors for the project’s bidding contracts.

The groundbreaking ceremony of the Van Phong International Container Entreport, which was scheduled in early 2008, was canceled after the local government of Khanh Hoa province proposed a huge steel project invested by Posco, a South Korean group in this area.

This project was protested by experts and the people for the worry of possible environmental pollution caused by this steel plant.

On October 31, 2008, Prime Minister Nguyen Tan Dung refused this project, which is worth nearly US $10 billion, saying that the project may affect the future development of the Van Phong International Container Entreport and harm the environment.

Source: VNN