The province of Ba Ria-Vung Tau and DP World, a global logistics giant from the UAE, have signed a Memorandum of Understanding (MoU) to advance cooperation in developing a free trade zone (FTZ) integrated with the seaport at Cai Mep Ha on February 18, 2025<\/p>\n
Speaking at the signing ceremony, Chairman of the Provincial People's Committee, Nguy\u1ec5n V\u0103n Th\u1ecd, emphasized that DP World, with its global reputation and expertise in logistics and port operations, is an ideal strategic partner for Ba Ria-Vung Tau. He highlighted that this MoU marks not only the beginning of a collaboration between the province and DP World but also strengthens the broader economic ties between Vietnam and the United Arab Emirates (UAE).<\/p>\n
Glen Hilton, CEO of DP World Asia-Pacific, expressed DP World's recognition of Ba Ria-Vung Tau 's immense potential and its enthusiasm in sharing expertise and capabilities to develop Vietnam\u2019s first free trade zone. He is confident that DP World\u2019s contributions will help transform the region into a thriving economic center, driving local economic growth to new heights.<\/p>\n
Cai Mep Ha Free Trade Zone: New Economic Potential<\/strong><\/p>\n - Enhancing the Competitiveness of Cai Mep \u2013 Thi Vai Port<\/strong><\/p>\n With DP World's expertise in managing 20 free trade zones worldwide, Cai Mep Ha will be developed using advanced models that optimize logistics processes, reduce transportation costs and transit time, to meet the increasing demand for cargo handling. It also has strategic location near Ho Chi Minh City and major industrial zones in Dong Nai and Binh Duong, the area is set to become a key trade and logistics center, strongly supporting domestic and international supply chains.<\/p>\n -\tAttracting Foreign Investment<\/strong><\/p>\n The FTZ will create a favorable business environment for international enterprises, boosting FDI inflows into logistics, manufacturing, and trade sectors. This will significantly contribute to the economic and social development of Ba Ria-Vung Tau<\/p>\n -\tBoosting Import-Export Activities<\/strong><\/p>\n The FTZ will allow businesses to benefit from preferential tax policies and simplified customs procedures, enabling foreign companies to establish distribution hubs or assembly plants within the zone. This will drive local economic growth and serve as a catalyst for nationwide economic expansion.<\/p>\n -\tDriving Local Economic Growth<\/strong><\/p>\n The project is expected to create jobs and enhance workforce skills in the logistics sector. Additionally, the development of the FTZ will spur growth in related industries such as transportation, warehousing, e-commerce, and financial services, further strengthening the regional economy.<\/p>\n DP World \u2013 An Ideal Strategic Partner<\/strong><\/p>\n DP World is a world-leading corporation specializing in investment, management, and operation of economic zones and seaport-linked free trade zones. With experience managing and operating about 20 FTZs worldwide, including Jebel Ali Free Zone in Dubai\u2014one of the most successful free trade zones globally\u2014DP World is expected to bring invaluable expertise and world-class operational efficiency to the Cai Mep Ha Free Trade Zone project.<\/p>\n Source<\/em>:<\/em> Ba Ria \u2013 Vung Tau Province Electronic Information Portal baria-vungtau.gov.vn<\/a><\/em><\/p>\n