THE PORT OF LOS ANGELES IN THE UNITED STATES COLLABORATES WITH A CONSORTIUM OF AMERICAN AND VIETNAMESE INVESTORS TO IMPLEMENT THE NAM DINH VU PORT PROJECT IN THE CITY OF HAI PHONG

Written by  - Saturday, 18 November 2023

Infrastructure always plays a profoundly crucial role, serving as the backbone of socio-economic development. As the economy grows, the demand for infrastructure development increases. This is the outcome of investments that lay the foundation for comprehensive societal progress. In Vietnam's infrastructure development, seaports hold a pivotal role as the driving force for maritime economic development specifically and the nation's economy in general. They serve as gateways for importing and exporting goods, hubs for transitioning transportation methods from sea to rail, road, and inland waterway transport.

In the United States, the Port of Los Angeles (POLA), also known as the Los Angeles International Port, is a government-owned seaport complex that opened in 1907. Handling an annual cargo volume of 9.3 million TEUs and sprawling across 7,500 acres (3,000 hectares) with a shoreline stretching 43 miles (69 kilometers), the Port of Los Angeles stands as the largest seaport in the United States. Situated on San Pedro Bay, it lies approximately 20 miles (32 kilometers) south of downtown Los Angeles. Adjacent to the Port of Los Angeles is the Port of Long Beach, collectively employing over 16,000 individuals. The Port of Los Angeles features a total of 80 docks and container terminals, including the largest container terminal in the U.S., APM Terminals Pier 400. Serving as a gateway for goods to and from Pacific Rim countries, the Port of Los Angeles facilitates trade with nations bordering the Pacific Ocean. Collaborating with the Port of Los Angeles presents significant opportunities for partners involved in port operations and management.

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The signing ceremony held in San Francisco, USA, as part of the activities during the Asia-Pacific Economic Cooperation (APEC) 2023 High-Level Week, with President Võ Văn Thưởng, ministries, departments, and the local government of Los Angeles in attendance, marked a significant moment between the Port of Los Angeles, the city of Hai Phong, and a consortium of American and Vietnamese investors, including Saigontel Telecommunications Company (Saigontel) and Energy Capital Vietnam (ECV). All parties involved committed to cooperation, collaboration, and sharing best practices in developing the Nam Đồ Sơn comprehensive port, focusing on investment opportunities, administrative reforms, and information exchange to ensure the sustainability of the international seaport. Additionally, they aimed to promote mutual priorities related to sustainable financial investment and management, environmental sustainability, and operational efficiency within the Nam Đồ Sơn Port Project. Furthermore, they outlined plans to develop and construct a green transport corridor between POLA and the Nam Đồ Sơn port to support future trade routes.

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Succeeding the signing ceremony, a delegation from Hai Phong, led by Comrade Le Tien Chau, Central Committee member of the Party and Secretary of the Hai Phong City Party Committee, embarked on a visit to observe and learn from the experience of the Port of Los Angeles in the United States. During their working session, both parties shared insights regarding port management and operations, as well as exchanged views and directions for the future development of seaports.

The collaboration with leading and reputable partners from the US Government in port infrastructure brings expectations for development, positioning Hai Phong as a highly developed city among the top cities in Asia and the world. This aligns with the city's general plan until 2040 and its vision until 2050, which has been approved by the Prime Minister. It further emphasizes the cooperative relationship between Vietnam and the US after establishing the Comprehensive Strategic Partnership for peace, cooperation, and sustainable development.

Investment Promotion Department

Strategic Partnership