Vietnam: Ho Chi Minh City to study to add more criteria for selecting strategic investors

Vietnam: Ho Chi Minh City to study to add more criteria for selecting strategic investors (Image from the Internet)

Vietnam: Ho Chi Minh City to study to add more criteria for selecting strategic investors

On August 28, 2024, Deputy Prime Minister Tran Hong Ha presided over a meeting on the investment proposal dossier for the Saigon Gateway International Transshipment Port Project (as per the Planning, it is the Can Gio International Transshipment Port) (hereinafter referred to as the Can Gio International Transshipment Port Project).

In Announcement 418/TB-VPCP dated September 13, 2024, the Deputy Prime Minister of Vietnam made the following requirements for investor selection:

- Ho Chi Minh City, based on Resolution 98/2023/QH15 on piloting several specific policies for the development of Ho Chi Minh City, should research and consider adding other important criteria for selecting strategic investors. This may include aspects such as attracting shipping companies with a significant proportion of the global fleet; requirements on the scale of investment; investment capital for construction in the next 5 years (must complete the investment in 04 ports with a total capital of about 1.5 billion USD); cooperating with domestic enterprises for investment; port exploitation; fulfilling commitments to attract a large volume of international transshipment cargo through the port...

- The selected investor must ensure the investment is made according to the comprehensive investment plan, synchronously, according to the timeline, and in phases as required by state management agencies and the proposal by Ho Chi Minh City.

The Ministry of Transport of Vietnam, the People's Committee of Ho Chi Minh City, and other Ministries and sectors will cooperate with the Ministry of Planning and Investment in appraising the project dossier according to the provisions of the Investment Law and related guiding decrees to ensure thoroughness, completeness, and proper authority of the Prime Minister as required by the Deputy Prime Minister.

The Ministry of Planning and Investment and the People's Committee of Ho Chi Minh City should guide and support the investor in suggesting the project to fully receive the written comments and verbal contributions at the meeting from the Ministries and agencies to supplement and complete the proposal dossier in accordance with the law. Then, submit it to the Ministry of Planning and Investment for thorough appraisal and presentation to the Prime Minister of Vietnam for consideration and decision in September 2024.

The Ministry of Planning and Investment of Vietnam is responsible for evaluating and appraising all related contents according to the regulations (such as planning, land use plans, forest use conversion, technology, environment, timelines, phased investment, socio-economic efficiency, investment capital,...) to ensure that when the Prime Minister approves the investment proposal, it has been thoroughly and sufficiently reviewed according to the legal provisions, especially concerning environmental issues (not overlooking and not "sacrificing" the environment; ensuring overall harmonious benefits, avoiding conflicts and negative impacts on other projects...).

Regarding the objectives and requirements: The Ministry of Planning and Investment of Vietnam is responsible for appraising and specifying the conditions, objectives, and requirements for investment and exploitation of the Can Gio International Transshipment Port Project, focusing on determining the factors for the next 5 years (until 2030). The investment in the construction of the Can Gio International Transshipment Port should only be carried out when it meets the requirements for national and ethnic benefits. The draft investment decision must clearly specify the fundamental, primary contents that must comply with the law and the contents that can be considered for supplementation and completion after the investment decision is approved, during the feasibility study report preparation and the investment project approval process; ensuring the selection of an investor with full capability, experience in the construction, exploitation, and development of an international transshipment port with competitiveness in the region and internationally, sustainable development, prosperity, security, and safety, linked with ensuring national defense, security, maintaining independence, sovereignty, and territorial integrity according to the orientation of Resolution 36-NQ/TW 2018 of the Central Committee of the Communist Party.

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