The seaport-linked FTZ in the Cai Mep Ha vicinity is expected to boost the maritime economy to capitalise on the strategic location of Ba Ria-Vung Tau, attract foreign investment, and drive growth in the logistics, seaport, and international trade sectors.
Ba Ria-Vung Tau (VNA) – Southern Ba Ria-Vung Tau province and global logistics leader DP World signed a memorandum of understanding (MoU) on February 18 to conduct discussion for cooperation in establishing Vietnam’s first free trade zone (FTZ) in the vicinity of Cai Mep Ha seaport.
Under the MoU, the Ba Ria-Vung Tau People’s Committee and the DP World Asia Pacific Pte Ltd will explore cooperation possibility and share expertise on the design, operation and development policies for a seaport-linked FTZ, a new port within the zone, and an industrial, commercial, and service area inside the FTZ.
Nguyen Van Tho, Chairman of the provincial People’s Committee, commended DP World’s reputation and expertise in logistics and port operations. He also emphasised that the MoU marks the start of a promising collaboration and also helps strengthen the relationship between Vietnam and the United Arabic Emirates (UAE).
Glen Hilton, CEO of DP World Asia Pacific, expressed confidence in the province’s potential and assured that DP World will leverage its experience and capacity to help build and maximise the potential of Vietnam’s first FTZ, helping create a thriving economic hub, boost local growth and attract international businesses.
The MoU lays the foundation for further discussions on DP World’s role in the development of the Cai Mep Ha FTZ project, which aligns with national and regional economic strategies.
The seaport-linked FTZ in the Cai Mep Ha vicinity is expected to boost the maritime economy to capitalise on the strategic location of Ba Ria-Vung Tau, attract foreign investment, and drive growth in the logistics, seaport, and international trade sectors.
The project will also create jobs and improve living standards, transforming Ba Ria-Vung Tau into a key economic and maritime service hub of Vietnam and Southeast Asia at large.
DP World, headquartered in Dubai, UAE, is one of the world’s largest logistics service providers and port operators, with a workforce of over 100,000 across six continents.
The partnership is hoped to further promote international and regional trade, and drive socio-economic development of Ba Ria-Vung Tau./.
