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Vietnam’s top forwarder Gemadept Corp will start building a $410-million deep-water container port next year to handle more transhipments in a fast-growing economy that joined the World Trade Organisation earlier this year. The government has identified Cai Mep container port as one of five ports to be built in the southern province of Ba Ria-Vung Tau by 2010 to serve a region handling 70 per cent of Vietnam’s containers traffic. “So far, transhipments ar e carried out in Singapore, Taiwan or Hong Kong, but when we put the port into operation, ships from the US could come directly to Cai Mep for transhipment to regional countries,” Gemadept chief executive officer, Mr Do Van Minh, said. Mr Minh did not say how much Gemadept would invest in the port, which will have a depth of 16 metres. The company has been building two ports in the central region — the $36-million Dung Quat and the $230-million Nhon Hoi. Construction of Dung Quat, in which state-run Vietindebank is investing 11 per cent, began in July 2006. When operational in early 2008, it would serve the $2.5-billion oil refinery in Quang Ngai.

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