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The Nhon Hoi Economic Zone (EZ) Administration on July 18 granted the investment license to the Nhon Hoi Gemandept International Port Joint Stock Company.
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The investor receives the investment license for the Nhon Hoi International Port project. Photo Cat Hung
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* Scale and progress of the project
The Nhon Hoi Gemandept International Port Joint Stock Company is established by the joint venture of three investors: Gemandept Joint Stock Company, Sai Gon-Nhon Hoi Industrial Zone Joint Stock Company and HCM City-based Green Peace Tourism Company. “Gemandept has prepared for the sustainable development. We chose Binh Dinh as an important phase in the development strategy of the company. Central provinces in general and Binh Dinh in particular have a strategic role in the East-West Economic corridor. We’ll play the role as a factor to promote enterprises in the area for the development and mutual benefits,” said Mr. Vo Van Nhut, the general director of the Nhon Hoi Gemandept International Port Joint Stock Company.
The Nhon Hoi Int’l Port will be built on an area of 119 ha with the total investment capital of VND3,700 bln (US$229 mln) in the Hoi Son hamlet of Nhon Hoi Commune. In the first phase, the two main 480-meter berths will be built, allowing the port to accommodate 30,000-ton ships and to have annual cargo throughput of 3 million tons by 2010. And in the second phase, the port is designed to have annual cargo throughput of 12 million tons by 2020 when in full performance.
Under the project, the Nhon Hoi Int’l Port is to be built in the fourth quarter of this year. The construction of the Nhon Hoi Int’l Port is a matter of urgency to meet the social-economic development in Binh Dinh and neighboring provinces. The project will help to promote the capacity of the good exchange in the key economic zone of Central provinces. It has not only prior policies of the State but the concern of provincial leaders, agencies and the people. These will be favourable conditions for the success of investors.
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The background of the Nhon Hoi Int’l Port in Nhon Hoi Economic Zone. Photo B.P
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* Project for infrastructures
At the ceremony, Mr. Le Huu Loc, vice-chairman of Binh Dinh province People’s Committee, affirmed the importance of the Nhon Hoi Int’l Port in the construction and development of Binh Dinh in general and the Nhon Hoi EZ in particular. Currently, the Quy Nhon Port can’t meet the development of Binh Dinh and other Central provinces. Although the Ministry of Transport planned to upgrade the Quy Nhon Port, it’ll be able to have the capacity of five tons per year due to the limited space, Loc added.
The Nhon Hoi EZ Administration has so far issued the investment license to 10 projects, in which there are two for the industrial zone. When two projects are started, it can produce a large amount of goods for both domestic and foreign demands. The Nhon Hoi EZ Administration will issue the investment license to six projects, which are all related to the Nhon Hoi EZ, in the coming time. The infrastructure of the Nhon Hoi EZ will have been finished by the third quarter of 2008. At that time, there will be many investors concerning to the Nhon Hoi EZ. It’s, therefore, essential to quickly start the NhonHoiInt’lPort project, according to Dr. Man Ngoc Ly, head of the Nhon Hoi EZ Administration. |
Both domestic and foreign investors who intend to invest in the Nhon Hoi EZ are paying attention to the feasibility of the Nhon Hoi Int’l Port project and its progress. They are concerned with it because it will play an important role in importing and exporting goods. The Nhon Hoi Gemandept Company, therefore, have to closely cooperated with the Nhon Hoi EZ Administration and local authorities to finish the construction on time.
However, if there will be more invertors than expected, it’s necessary to shorten the progress of the project. Currently, the Foxconn Technology Group (Taiwan) was granted the investment certificate to invest in the Nhon Hoi EZ. Previously, the Group invested in Bac Ninh and Hai Phong. Only after three months of construction, its factories were operated. This shows that the time for each phase planned to be shortened.
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Written by Cat Hung
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Translated by Hong Quang
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