Van Phong Int’l Trans-shipment Port Project to stop implementation
thamnguyen99 28-01-2021, 14:34
The Ministry of Transport yesterday requested the Vietnam Maritime Administration to hand over the beginning phase of Van Phong International Trans-shipment Port Project to the Vietnam National Shipping Lines (VIMC) for liquidation of all remaining assets of the project.


Van Phong Int’l Trans-shipment Port Project to stop implementation
The beginning phase of Van Phong International Trans-shipment Port Project has a total investment capital of nearly VND6 trillion (US$260 million) approved by the Ministry of Transport in 2007. VIMC was assigned to the investor to start implementing the project in 2009.

After receiving an initial investment capital of VND213 billion (US$9,2 million), the project was halted due to the impact of the global economic crisis. As this reason, the project was handed over to the Vietnam Maritime Administration in 2012.
According to the proposal of VIMC, all remaining assets should be liquidated and finalized so that the company will be able to switch into the form of a joint stock company.
The Ministry of Transport also asked VIMC to take over the project, refund the investment cost to the Vietnam Maritime Administration during the process of receiving and handing over the property as well as solving problems related to the project.

By Minh Duy- Translated by Huyen Huong

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