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Rail News Home Federal Legislation & Regulation

11/29/2023



Rail News: Federal Legislation & Regulation

PANYNJ, Vietnam port to collaborate on trade


Representatives of the PANYNJ and the port in Hai Phong, Vietnam, signed an MOU to collaborate on ways to increase trade between Vietnam and the United States.
Photo – Port Authority of New York and New Jersey

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The Port Authority of New York and New Jersey (PANYNJ) last week signed a memorandum of understanding with the port in Hai Phong, Vietnam, to collaborate on ways that will increase trade between the two ports.

The Nov. 20 signing followed a Sept. 10 meeting between President Joe Biden and Vietnam General Secretary Nguyen Phu Trong to elevate U.S.‐Vietnam relations to a Comprehensive Strategic Partnership, PANYNJ officials said in the port's blog, Breaking Waves.

A $13.77 billion project set to be completed by 2030 will upgrade and optimize Vietnam’s port system to reduce its dependency on road transportation and boost trade. The plan includes two special graded terminals: Nam Do Son in Hai Phong and Cai Mep in the southern province of Ba Ria-Vung Tau.

The terminals will serve as international hubs for the direct transport of Vietnamese goods to Europe and the United States, avoiding the need to send goods to intermediate hubs in other countries, according to the blog.

Hai Phong is the only city in northern Vietnam with five modes of transportation, including rail. 

 



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