A container vessel departs with export goods from Gemalink, the largest deep-water port in the Cai Mep-Thi Vai cluster in HCM City.
Nguyen Van Duoc, chairman of the city People’s Committee, led a delegation to Ba Ria Vung Tau last week to assess Cai Mep Ha Port and the Long Son Petrochemical Complex (LSP). He said the city’s new master plan envisions one financial-technology hub and three key development zones, with Ba Ria Vung Tau designated as a marine economic zone.
The USD 5 billion LSP is Vietnam’s first integrated petrochemical project, contributing about USD 150 million a year to the city’s coffers and employing over 1,000 skilled workers. The company is pursuing a USD 500 million expansion to add ethane storage facilities, aiming to cut costs and reduce emissions. It has submitted a revised investment application, expecting approval in October.
Kulachet Dharachandra, SCG Group’s country director in Vietnam and LSP’s general director, said the complex would eventually generate USD 1.5 billion in revenue, half of which would replace imports. He expressed optimism about infrastructure expansion under the planned merger of three cities into a new mega HCM City.
Gemalink Port, part of the Cai Mep Thi Vai cluster, handled 1.75 million TEUs in 2024 and expects nearly 2 million this year. It is among 19 ports worldwide capable of receiving 250,000 DWT container ships. The Vietnam Maritime Administration has proposed extending berths to allow two such vessels to dock simultaneously, potentially creating a continuous 22 km berth line longer than Singapore’s.
City officials said developing ports and petrochemicals as the backbone of the marine economy is central to transforming HCM City into a global megacity and boosting national growth.
