Saigon Port Corporation, which operates the port on the Saigon River, is drawing up a proposal to submit to the city government.
The upgrades will cover a 68,000-square-meter area inside the port and include a complex with an international terminal capable of accommodating cruise ships with up to 1,000 passengers yacht docking facilities and a logistics area.
There will also be a public square, bus terminals, parking lots, and ferry docks.
Saigon Port Corporation will bring in 30% of the VND625 billion cost from its own resources and mobilize the rest from banks and other sources.
The work is scheduled to be carried out between 2025 and 2027.
Located in a prime area of the city, Nha Rong - Khanh Hoi Port is near Bach Dang Wharf in District 1 and faces the Thu Thiem New Urban Area across the river.
It regularly receives large international cruise ships carrying 300-1,100 passengers, domestic passenger ships and vessels that offer dinner cruises on the Saigon River.
The redevelopment is expected to attract more tourists to HCMC and offer locals more recreational choices.
It will also dovetail with the city’s policy of relocating cargo ports away from the city center and converting them into international passenger terminals, improve the urban landscape and create a dedicated terminal for passenger ships and yachts.
In August city chairman Phan Van Mai greenlighted a study for redeveloping Nha Rong - Khanh Hoi Port into an international passenger terminal.