Top officials of Vietnam and South Korea last week signed a memorandum of understanding to strengthen cooperation in maritime, including seaports, logistics and shipping lines.
Korea’s Minister of Maritimes Affairs and Fisheries Sung Jin Kim and Vietnamese Minister of Transport and Communications Ho Nghia Dung inked the deal on December 1 during a visit to Vietnam by the former ending December 3.
Under the agreement, the two ministries agreed to strengthen the exchange of information on policies, regulations, technology transfer in the maritime industry as well as to encourage enterprises of both countries to establish partnerships in developing and operating seaports, forwarding and logistics services.
Besides, the two ministries also planned to join forces in training sailors, organising training courses on maritime safety and security as well as exchanging knowledge and experiences in search and rescue operations.
In October, a delegation of the Korean ministry’s port logistics department paid a fact-finding trip to the southern province of Ba Ria-Vung Tau to sound out opportunities in developing a joint-venture port along the Thi Vai River. The Korean maritime ministry plans to build and operate a port comlex in the Cai Mep-Thi Vai area.
Under the plan, the port, whose preliminary investment is estimated at US$345 million, will be financed by the ministry and Busan Port Authority.
Besides the Korean ministry’s officials said they could lobby for an ODA loan from the Korean government for building internal roads and infrastructure facilities in Cai Mep-Thi Vai port complex if Vietnam gives the green light.