JICA Supports to Develop Deepwater Port in Vietnam City

The Japanese International Cooperation Agency (JICA) will provide an official development assistance (ODA) to build infrastructure for Lach Huyen deepwater port in the Vietnamese northern city of Haiphong. The loan, worth JPY21 billion ($278 million), has an interest rate of 0.2% per year during the period of 40 years. The port project is divided into many phases with the fist phase costing $90 million, the state-run Vietnam News Agency said. Once completed, the port will be able to handle six million tons of goods a year. The figure is expected to rise to 35 million-50 million tons in 2020. Vietnam National Shipping Lines (Vinalines) and Japan’s MOLNYKIT have signed a memorandum of understanding on setting up a public-private-partnership (PPP) joint venture to develop the port. Lach Huyen seaport is among Vietnam’s key infrastructure projects which will get Japanese ODA, besides Noi Bai International Airport and Noi Bai-Nhat Tan Highway. (Vietnam News Nov 3 p16, Kinh te Vietnam & The gioi Nov 3 p2)