Graphic of the Trần Đề Port in the southern province of Sóc Trăng. Establishing a free trade zone inside the port will help attract investments. — Photo laodong.vn

SÓC TRĂNG — The southern province of Sóc Trăng is being encouraged to establish a free trade zone inside the Trần Đề Port to attract investments.

The proposal was made by a consultancy unit under the Ministry of Transport during a meeting with the province’s People’s Committee on Wednesday.

The free trade zone should be established within the Trần Đề coastal economic zone, stretching along the estuary and the coastal region of the province, according to the unit.

It should be 40,000-hectares in size, aimed at piloting mechanisms and policies to attract investments in finance, trade, tourism and high-quality services.

Commenting on the proposal, chair of the Sóc Trăng People's Committee Trần Văn Lâu said the Trần Đề free trade zone should be larger than usual to avoid overloads.

“The consultancy unit needs to reassess the estimations, roadmap, procedures and consider feedback from relevant departments before finalising the proposal, as this serves as an important legal basis for the province to propose to higher authorities.”

According to the Sóc Trăng Department of Planning and Investment, the Government aims to develop Trần Đề Port into a gateway for the Mekong Delta, and one of Việt Nam’s six special ports.

These goals were specified in the Politbuto’s Resolution 13, issued on April 2, 2022 and the Prime Minister’s Decision 1579, issued on September 22, 2021.

As more than 70 per cent of the region’s import-export goods have to be transported by road to ports in HCM City and Bà Rịa–Vũng Tàu Province – which increases transportation costs, takes more time, impacts the quality of goods and places pressure on road traffic – the development of Trần Đề Port will address these difficulties. — VNS