The proposal to establish a global maritime center in Ho Chi Minh City could unlock immense value from the port and shipping sector, while complementing the city’s planned international financial center.
Supplying fuel and services to mega vessels
The recommendation was presented by Vu Ninh, a member of the Board of Directors at Gemadept Corporation, during a forum titled “HCMC – A regional hub for high-value, advanced service industries: Directions and breakthrough solutions,” hosted by the HCMC Department of Industry and Trade on September 12.
Ninh suggested that HCMC should develop a “global maritime center” rather than focusing solely on warehousing and logistics services as previously planned.
He cited Singapore’s PSA port hub, which directly contributes 7% of the country’s GDP and 3% of its total service value. In contrast, Vietnamese port operators like Gemadept and Saigon Newport primarily provide basic cargo handling services.
Currently, over 100 mega vessels dock each month at the Cai Mep – Thi Vai port cluster, each carrying cargo of tremendous value.
“Can we supply fuel to these mega ships? Can we provide financial services for the cargo onboard? These are high-value services,” Ninh stated. He added that a maritime center would effectively support the proposed international financial center in HCMC, in accordance with a resolution passed by the National Assembly.
“HCMC has a better geographical location than Singapore. The total cargo volume in the Southeast region is about 26 million TEUs, excluding transshipment goods. These are the foundations for establishing a global maritime center in the region,” he emphasized.
In the short term, Ninh suggested connecting all ports within the Cai Mep – Thi Vai area into a unified network with shared services to maximize capacity. Currently, the terminals operate independently under separate management.
Long term, major enterprises could lead the industry and collaborate with partners to roadmap the creation of the global maritime center. Gemadept is also keen to contribute to this process.
Gemadept currently manages and operates a network of seaports and inland container depots (ICDs) across Vietnam. It also owns Gemalink, a deep-water port ranked among the world’s top ports, capable of receiving vessels up to 232,500 DWT.
HCMC’s maritime advantage over Thailand
Dinh Xuan Khanh, Director of the Logistics Services Center at Saigon Newport Corporation, estimated that the former HCMC port area handles approximately 7 million TEUs annually. The Cai Mep – Thi Vai cluster in Ba Ria – Vung Tau processes a similar volume.
Following administrative mergers, the new HCMC handles about 14 million TEUs per year. With current growth rates, this figure could reach 26.57 million TEUs by 2030, or even higher.
Moreover, the city’s maritime logistics sector still has room to grow, especially if it can attract sea-borne transshipment cargo, rather than serving only import-export goods.
For example, Cambodia’s Sihanoukville Port can only accommodate vessels under 50,000 tons. Most Cambodian exports are transshipped through Singapore or Thailand’s Laem Chabang port, with annual volumes of around 2 million TEUs.
According to Khanh, HCMC is well-positioned to capture this volume. Shipping cargo from Sihanoukville to Cai Mep – Thi Vai and then on to the U.S. is both shorter and more cost-effective than routing through Laem Chabang.
To fully leverage port advantages, the city must improve the integration between seaports, logistics hubs, and road, waterway, and air transport systems.
Data from the Vietnam Maritime and Inland Waterways Authority show that the costs of maintaining, dredging, and upgrading waterways, bridges, and river channels are significantly lower than those for road infrastructure. Yet these investments are critical to strengthening inland waterway transport.
Khanh noted that about 70% of the 7 million TEUs handled at Cai Mep – Thi Vai are transported to HCMC by water. If the city continues relying on old ICD ports like Thu Duc, Cat Lai, and Phu Huu, road traffic congestion will persist.
He proposed utilizing land along the upper reaches of the Dong Nai and Saigon rivers to develop post-port logistics zones that can relieve road congestion. Areas like Cu Chi Port (former HCMC), An Tay, Ben Suc, and Thanh Tuyen (former Binh Duong) are all capable of receiving large-capacity barges.
After hearing from businesses, Bui Ta Hoang Vu, Director of the HCMC Department of Industry and Trade, affirmed the city’s commitment to developing inland waterway transport.
Currently, Binh Trieu Bridge is being raised to allow barges carrying three stacked container layers to pass underneath. This will facilitate cargo transport from ports to upstream zones and better utilize the region’s maritime potential. Additionally, the lack of interoperability among existing port infrastructures is being addressed by the city.
Deputy Chairman of the HCMC People’s Committee, Nguyen Van Dung, acknowledged that the city’s logistics network lacks coordination and synchronization.
Regarding the proposal to establish a global maritime center, Dung said the city should form a research group and develop a comprehensive project to submit to the central government.
“Several localities in Vietnam already have major ports, but the idea of forming a global maritime center is entirely new. The city will seriously consider it to turn the vision into reality,” he said.
Source: VietNamNet Global