Vietnamese ports on pace to post banner year
Vietnam’s port sector will flourish this year as trade in goods is expected to thrive on the back of recovery in production, domestic consumption, and export markets, according to industry analysts.
The country enjoyed robust trade last year despite COVID-19, with high export value on the back of orders from the US.
Total foreign trade was estimated at 543.9 billion USD, a year-on-year increase of 5.1 percent, with the country posting a trade surplus of 19.1 billion USD, its highest since 2016.
According to the Viet Dragon Securities Corporation, the volume of goods handled at local ports picked up after the second quarter last year, with the pandemic encouraging many multinational corporations (MNCs) to shift production to Vietnam. It said this trend will continue as Vietnam integrates more deeply via free trade agreements (FTAs).
Vietnamese sea ports welcome first shipments of 2021
Sea ports in Vietnam held ceremonies on January 1 to welcome the first shipments of 2021.
As the clock struck midnight, at Tien Sa Port in Da Nang, the first container was unloaded from container ship Spirit of Kolkata under the flag of Marshall Islands, docking at the port on the night of December 31.
In 2020 Da Nang Port handled a total of 11.4 million tonnes of goods, generating revenue of VND930 billion (US$39.8 million) and earning profit of VND260 billion (US$11.1 million).
With such figures, Da Nang Port figured as one of the top ten largest container ports in Vietnam.