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Vietnam Property Listing - rent House Villa - Expat Ho Chi Minh - office for lease
Main > Industrial > Van Phong Bay IP
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Our Ref. Numer: 237
Type: Industrial
Featured: No

In 2003 local authorities got central government approval to turn the 150,000 hectare (over half comprising water surface) bay into an international container port and a new economic zone at a cost of USD$3.6 billion between 2005 and 2020.

Located 70km north of Nha Trang City, the bay covers 435 square kilometers and provides an ideal shelter for boats as the bay is surrounded by Hon Gom Peninsula and Hon Lon Island. Van Phong is considered conve¬nient for development into an international-scale trans-shipment port as the 45,000 hectare bay's aver¬age 22-27m dept and 6km wide entrance make it ideal for large ships. Economists say Van Phong could cause a major change to the Southeast Asian region's marine serv¬ice industry since, with Van Phong Port in place, goods from southern Chinese provinces and ASEAN could transit at Van Phong Bay to reduce time and save money. The transshipment ratio in sea transport in the region had increased to 47% in 2002 from 32% in 1980 whilst containerization has be¬come more popular (estimated to increase to 20 million tons in the region by 2020 compared with about 4 million tons at present). The region's two biggest transit ports are Hong Kong and Singapore with Tanjung Pelapas in Malaysia, Kaohsiung in Taiwan and Shanghai in China rapidly expanding. If Vietnam develops Van Phong into a transit port, the port will certainly face competition from these ports but could compete well simply because it lies in the center of the region. It is anticipated that from now to 2020, the bay will receive a total investment of USD$3.6 billion from the State budget, including a railway network, an electricity system and a wharf, to be built in 2007. It is reported that 7 local enterprises agreed in late 2003 to contribute capital to set up a company named Vanphong Corp to develop the huge port project. The seven stake¬holders are the Vietnam Maritime Bureau, the Vietnam National Shipping Lines (Vinalines), Viet¬nam Shipbuilding Industry Corp (Vinashin), the Marine University, Vietnam Register, the Vietnam Construction & Import¬ Export Corp. (Vinaconex) and PetroVietnam.

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Regional: Central Economic Region-CKER
City/Province: Khanh Hoa

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The information contained herein is believed to be true but does not form part of any future contract. Although obtained from sources we deem reliabel, we assume no responsibility and no warranties are made or implied regarding any errors, omissions, prior sale or withdrawal from the market without notice and the purchaser will need to make their own enquiries and independent investigations as to the facts and suitability of the property for their intended use or purpose.
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