The Vietnamese government has approved a proposal for the
development of a new container port in Van Phong Bay, north of Nha Trang in the
central coast province of Khanh Hoa The proposed port will be developed in
three phases on a total area of 750 hectares in Dam Mon basin, and is expected
to be complete by 2020.
Van Phong is close to international shipping lanes to
Europe-North Asia, Australia-South East Asia and North Asia, it is viewed as an
international transshipment point as the 45,000-hectar bay has an average depth
of 20-22 meters and 6 kilometer-wide navigational passage.
Meanwhile, President Bush traveled to Vietnam in November to
participate in the Asia-Pacific Economic Cooperation (APEC) forum.
During his visit, Bush met with Vietnam’s prime minister and
president to discuss U.S.-Vietnam trade and investment goals.
Trade between the two countries reached $8 billion in 2005.
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