Business

Vietnam assumes 100 percent of domestic container marine transport

SGGP
With the fleet of over 1,400 cargo vessels, Vietnam’s shipping industry has assumed 100 percent of domestic container transport by sea and increased its export import transport market share.

A container vessel docks at Cai Mep international terminal (Photo: SGGP)

A container vessel docks at Cai Mep international terminal (Photo: SGGP)

According to information at a seminar on improving Vietnam’s shipping capacity organized in Hanoi on January 30, Vietnam’s shipping output reached 130.9 million tons with the growth rate of 6 percent in 2017.
However, the industry now faces challenges in technology, labor productivity, capital access and the ability of meeting transport demand from new markets.
At the seminar, experts said that Vietnam’s maritime industry needs to continue renewing vessel fleet to reduce costs and improve competitiveness.
They forecast that if Vietnam can repair existing problems to promote its position advantages, the country will have the potential of becoming one of maritime powers in Asia by 2020.

By BICH QUYEN – Translated by Hai Mien

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