Saigon Newport Corporation (SNP), under the Ministry of National Defense, will partner with France’s CMA CGM to build berths 7 and 8 at Lach Huyen, Hai Phong, with operation targeted for 2028, Cafe F has reported.
The deep-water project is valued at VND 12.79 trillion or US$492 million, including VND 1.92 trillion or US$73.8 million in equity from SNP and VND 10.87 trillion or US$418.2 million in mobilised capital.
The article also notes that:
- Once operational, the new terminals are expected to handle 1.9 million TEUs/year and accommodate ships of up to 18,000 TEUs. The site will span nearly 80 hectares, including connected waterway areas.
- This builds on SNP’s existing 51 percent stake in Hai Phong International Container Terminal Company Limited (berths 1–2) and complements ongoing port developments: Vietnam National Shipping Lines’ berths 3–4 (VND 7 trillion or US$269 million) and Hateco’s berths 5–6 (VND 6.43 trillion or US$247 million).
- Hai Phong port throughput rose to 52.84 million tonnes in the first four months of 2025, up 8.06 percent year-on-year. Revenue reached VND 2.42 trillion or US$93.05 million.
Of note, Vietnam continues to expand its port infrastructure, with major state-affiliated operators like Saigon Newport Corporation leading development. The Lach Huyen project with CMA CGM reflects a growing openness to foreign participation, particularly in capital-intensive deep-water terminals.
The pace of throughput growth in Hai Phong and the scale of upcoming projects suggest long-term potential. However, foreign developers should be aware that most port concessions remain closely linked to state-owned enterprises or military-run corporations, and project terms are shaped by broader strategic considerations, not just commercial ones.
Opportunities exist, but access often depends on alignment with Vietnam’s policy priorities and a willingness to operate within a tightly controlled regulatory environment.
See also: Vietnam Seaports 2025: Key Players, Regulations & Development Plans