Shipping firm of French billionaire Rodolphe Saade eyes HCMC investment

It considers Vietnam a strategic market, the CEO of CMA CGM Vietnam, Amelie Manon Humphreys, told city authorities Monday.

A shipping container of CMA CGM. Photo courtesy of the company

The company wants to know more about the maritime transport development strategy and port development plans, focusing on the Cai Mep – Thi Vai port cluster and the Can Gio International Transshipment Port project.

The Cai Mep – Thi Vai port system can accommodate vessels of up to 250,000 tonnes and is connected to around 35 sea routes, including those linking Europe and the Americas.

Can Gio is a mangrove area in HCMC where Vietnam’s largest conglomerate Vingroup is developing a $9 billion urban hub and plans to build a $3 billion metro line to connect it with the city center.

CMA CGM expressed interest in the planning and construction, land clearance processes and legal procedures required for port investments.

City vice chairman Nguyen Van Tho promised administrative reforms and favorable conditions for investors in ports and maritime transport.

He instructed the Departments of Construction and Finance to collaborate and provide information to support CMA CGM’s exploration of investment opportunities.

The construction department said, following the city’s merger in July with neighboring localities, HCMC would revise plans to synchronize the functioning of its various ports.

The city expects to complete its comprehensive port development plans this year and solicit investment in the Can Gio International Transshipment Port and Cai Mep – Thi Vai.

CMA CGM operates 65 container ports worldwide, according to Reuters.

Saade has a net worth of $7.8 billion.