The economy of Vietnam has recorded the 2nd highest growth rate in East Asia in recent years. GDP growth has been in excess of 7% over the last 5 years and the economic outlook is very bright. Container volumes have also grown at a rate of 15-20% during the same period. Vietnam's entry to the WTO is further expected to boost trade volumes. Vietnam has a stable government system and enjoys positive demographics which only serves to underline its attractiveness as a place to invest.
Ho Chi Minh City, the economic center of Vietnam, is currently served by various ports along the Saigon River, most of which are identified for progressive closure over the next 10 to 15 years under the Government's master plan. SPCT therefore plays a key part in the Government's master plan and aims to provide a world class gateway for Vietnam's trade with the world.
The support of the Vietnamese Government has been important for establishment of this project. The long-term success of the project is assured by the growing need for world class infrastructure to underpin Vietnam's continued economic growth. The commitment of Government is further re-inforced by their active participation in the continued development of in-land infrastructure and the dredging of the Soai Rap River to make a new Gateway to the global market.