Many ports have become attractive for major private investors, even as the Government and Ministry of Transport want to reduce State ownership in seaports to not more than 51%.

The Da Nang Port

Five ports under the control of the Vietnam National Shipping Lines (Vinalines) launched IPOs soon after the Government announced this policy.

The shares of Quang Ninh, Nha Trang, Da Nang, Hai Phong, and Can Tho ports became red hot soon afterwards.

In a second IPO, Da Nang Seaport sold all 13.2 million shares to five private companies at a price of 15,677 VND, much higher than its minimum price of 12,000 VND.

The Oman Investment Fund and the T&T Group also want to buy stakes in Quang Ninh and Hai Phong ports.

Vingroup has said it is ready to buy 80 % of Hai Phong and Saigon ports.

Last August Vinalines sold 8.5 million shares or 34.7 % of Nha Trang Port to Vingroup.

Ha Tinh port reportedly attracted interest from 47 private companies who registered to buy more than 8.57 million shares, double the number planned, when it equitised in 2008.

Analysts are clear that the Government's policy of allowing the private sector to develop transport infrastructure like roads, airports and ports is the right one since public funds are limited.

(Source: VNA)