A consortium led by Vietnam Maritime Corporation and MSC’s Terminal Investment Limited (TiL) has secured approval to develop the long-planned Can Gio International Transshipment Port, marking a major step in Vietnam’s push to become a regional container hub.

The project, backed alongside Saigon Port (SGP), will span around 571 hectares in Ho Chi Minh City and carry a price tag of roughly $5bn. The ownership split gives TIL 49%, VIMC 36% and Saigon Port 15%. SGP is a subsidiary of VIMC.

Designed capacity is set to reach 4.8m teu by 2030, scaling up to as much as 16.9m teu by 2047, with long-term plans pointing even higher. Initial construction will include up to four berths capable of handling 24,000 teu ships, with eventual expansion to 13 berths and a total quay length of about 7.5 km.

Authorities have imposed strict conditions, including a 10-year lock-in on ownership transfers and a requirement to deploy at least $2bn within the first decade. Full build-out is expected within 20 years, with a 50-year operating term.

The scheme is part of a wider port push in southern Vietnam, with Can Gio, Cai Mep Ha and Cai Mep expansion projects all lined up for groundbreaking in April.

If delivered as planned, Can Gio could position Vietnam more directly against established transshipment hubs in Singapore and Malaysia, while strengthening links to Europe and the US.

For MSC, the move deepens its footprint in Vietnam, where it already has a strong presence across terminals and liner services. The world’s largest liner provides services to the container port systems in Hai Phong, Da Nang, and Cai Mep – Thi Vai and ships over 1m teu of import-export cargo from Vietnam.