The event of welcoming the world's largest container ship opens up the opportunity to put Phu My town on the list of the world's most famous commercial ports.
More than 16.3 billion USD invest into 9 industrial zones in Phu My
According to the People's Committee of Ba Ria - Vung Tau Province, Phu My town currently has 9 concentrated industrial zones with 261 projects operating with a total investment of more than 16.3 billion USD. This figure is equivalent to nearly 50% of the total FDI in Ba Ria - Vung Tau province (Total investment capital for valid projects in Ba Ria - Vung Tau, accumulated up to December 20th ,2020 is over 32.7 billion USD).
In the period from now to 2025, Phu My town will focus on implementing the planning work to orient the sustainable development of Phu My urban in association with the advantages of industry and seaports. These are also 2 of the 4 economic pillars of the province passed in the Resolution of the 7th Ba Ria-Vung Tau Provincial Party Congress, term 2020 - 2025.
In the next 5 years, this province will continue to promote industry, seaport, port logistics and tourism; increase competitiveness, be ready to attract investment from industrial parks and Cai Mep - Thi Vai port system (located in Phu My town) with other countries in the region.
Hot spot attracting investment
Along with the effect of the Free Trade Agreement between Vietnam and the European Union (EVFTA), from August 1, 2020, Phu My has become a hotspot for investment, especially in the seaport field. On October 26, 2020, Cai Mep port (CMIT) held a ceremony to welcome the Margrethe Maersk container ship - one of the largest container ships in the world today with a tonnage of more than 214,000 tons, carrying capacity of more than 18,300 containers, nearly 400m long, 59m wide.
With this event, CMIT has become one of about 20 major ports in the world capable of receiving ships this size, contributing to confirm the position of the Cai Mep - Thi Vai port system on the world maritime map.
This also has special significance in the context of free trade agreements that Vietnam has signed such as the European Union-Vietnam Free Trade Agreement (EVFTA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) ...
The EVFTA Agreement also opens up opportunities for Phu My to become a class trade, when Belgian and Dutch investors are "sprinting" to apply for investment of nearly $ 1 billion in the Cai Mep logistics center project. Summer. The project's goal is to develop Cai Mep Ha to become a leading center for transportation, container and export services produced from the Mekong Delta to the European Union. Vision, development experience and main source from European investors are strengths that ensure that the project goes into implementation soon, when it is approved. This brings the expectation that Phu My will become the leading trade in Southeast Asia and become the biggest economic leverage in the South.