The announcement was made in January, the month that Vietnam acceded to the World Trade Organisation (WTO). Accession is expected to boost growth, particularly around Ho Chi Minh City, which already handles more than 70% of the country’s container volumes. According to VICT chairman Truong Quoc Hung, the expansion will usher in a new phase in the port’s development as Vietnam’s premier container facility.
VICT began operations in 1998 as Vietnam’s first purpose-built container terminal. Its handling capacity has grown from less than 50,000 teu in 1999 to almost 450,000 teu in 2006. The new expansion will increase its total quay length to 678 m and will boost capacity to 900,000 teu a year by 2008.