Home Enterprise Unlocking Investment Potential: Unraveling the Procedural Knot for My Thuy Port’s Future

Enterprise

Unlocking Investment Potential: Unraveling the Procedural Knot for My Thuy Port’s Future

24 May, 2025

The My Thuy Port Project, a key infrastructure development in Quang Tri Province, has received approval from the Prime Minister for its investment plan as per Decision No. 16/QD-TTg dated January 4, 2019. With a total investment of up to VND 15,000 billion, the project boasts an impressive scale of 10 berths and spans an area of 685 hectares within the Southeast Quang Tri Economic Zone.

The project is strategically divided into three phases. Phase I (2018 – 2025) encompasses the development of four berths with a total investment of VND 5,902 billion. Phase II (2026 – 2031) involves the construction of an additional three berths, requiring an investment of VND 5,876 billion. The final phase, Phase III (2032 – 2036), completes the project with the remaining three berths and an investment of VND 3,222 billion.

KEY MILESTONES AND PROGRESS

According to reports from MTIP, the project’s development company, significant milestones have been achieved thus far. These include the completion of detailed construction planning, land-use planning, environmental impact assessments, basic designs, and technical designs. Notably, the company has also secured construction permits for the first phase, which includes a 320-meter-long eastern wave-resistant wall and berths 1 and 2, along with the transition floor and rear dyke.

In terms of actual construction, MTIP has substantially completed the 320-meter wave-resistant wall. Currently, the investor is focused on constructing the berths and rear dyke for berths 1 and 2, with an approximate completion rate of 31.36%.

Looking ahead to May 2025, the investor plans to commence work on three major components: the wave-resistant dyke from km0+320 to km0+780m, slated for completion by October 2025; the wave-resistant dyke from km0+780 to km1+735m, with a minimum of km1+200 to be completed by the end of the year; and the dredging of the ship channel, turning basin, and area in front of the berths. Additionally, construction on the administration building and fence is set to begin in July 2025 and is expected to be finished by December 2025.

During the construction process, the total dredged volume of the project is estimated at 29 million cubic meters, including approximately 1 million cubic meters of white sand, a valuable mineral resource. MTIP, in collaboration with consulting units, is in the process of finalizing the dossier to be submitted to the Department of Agriculture and Environment of Quang Tri Province. Subsequently, they will report to the People’s Committee of Quang Tri Province and seek the opinions of relevant ministries and branches to complete the procedure for exploitation permits.

In tandem with the main port project, the investor has also proposed the development of several linked projects, including the My Thuy Port Logistics Service Area, the My Thuy Coal Blending-Sorting-Preservation Complex, the My Thuy Duty-Free Area, and the Free Trade Area. These projects aim to create an ecosystem of services and logistics surrounding the port, fostering industrial development in the entire region.

OVERCOMING CHALLENGES AND ACCELERATING PROGRESS

Despite the project’s positive trajectory, it has faced certain challenges, particularly in land clearance and mineral exploitation licensing. Additionally, the urgent need to dredge 60,000 cubic meters to serve the operation of Berths 1 and 2 underscores the imperative for efficient procedures and adequate resources.

Vice Chairman of the Provincial People’s Committee, Hoang Nam, inspecting the construction progress of the My Thuy Port Project

Addressing these challenges, Vice Chairman of the Provincial People’s Committee, Hoang Nam, during a recent site inspection, provided concrete solutions and emphasized the project’s significance as a key driver for local economic and social development. He acknowledged the determination of the investor and construction units, along with the coordination of departments, branches, and local authorities, in executing the project.

To ensure smooth progress, Vice Chairman Hoang Nam instructed the departments and branches to maintain close coordination with the investor to promptly address any obstacles and maintain the construction schedule as planned. Regarding mineral exploitation, he directed the Department of Agriculture and Environment to promptly coordinate with MTIP to finalize the dossier, ensuring compliance with legal regulations and increasing local budget revenue. For the urgent dredging requirement, the Vice Chairman assigned the Office of the People’s Committee to review and report to the Provincial Party Committee and People’s Committee, seeking consensus from the members of the People’s Committee for a decision on the handling procedure.

Additionally, the Vice Chairman urged the People’s Committee of Hai Lang district, where the project is located, to coordinate with MTIP and the Management Board of Southeast Quang Tri Economic Zone to complete the site clearance for the expanded Phase 1 (43.44 hectares) and hand it over to the investor. He also emphasized the need to urgently conduct inventory, ownership determination, and compensation plans for Phases 2 and 3.

Regarding the auxiliary projects, such as the coal processing and preservation complex, the port logistics service area, and the duty-free area, the provincial leader affirmed the agreement in principle. The province’s development orientation is to build a synchronous system of seaports, with logistics as the foundation to support the industry in the Southeast Economic Zone and the entire province.

Vice Chairman Hoang Nam also requested that the departments and branches study MTIP’s proposals and advise the Provincial People’s Committee to consider and decide, ensuring feasibility and long-term investment efficiency.