Three-phase project set for completion in 2020

The Vietnamese government has approved a proposal for the development of a new container port in Van Phong Bay, north of Nha Trang in the central coast province of Khanh Hoa The proposed port will be developed in three phases on a total area of 750 hectares in Dam Mon basin, and is expected to be complete by 2020.

Van Phong is close to international shipping lanes to Europe-North Asia, Australia-South East Asia and North Asia, it is viewed as an international transshipment point as the 45,000-hectar bay has an average depth of 20-22 meters and 6 kilometer-wide navigational passage.

Meanwhile, President Bush traveled to Vietnam in November to participate in the Asia-Pacific Economic Cooperation (APEC) forum.

During his visit, Bush met with Vietnam’s prime minister and president to discuss U.S.-Vietnam trade and investment goals.

Trade between the two countries reached $8 billion in 2005.