Speaking at the function, President Truonng Tan Sang hailed the Saigon Newport Corporation and the Vietnam Oil and Gas Group (PetroVietnam) for completing the first phase of this important project.

The President stressed on the strategic and potential location of the port while noting Vietnam’s long coastline of more than 3,200 kilometres.

“The inauguration of the port will not only support nation building and its protection but also make it one of Vietnam’s leading deep-sea ports and supply service areas,” he said.

He urged the Saigon Newport Corporation to step up the implementation of the second phase of the project, ensuring its progress and quality.

Once completed, Cam Ranh International Port, with an investment of 2 trillion Vietnamese dong (nearly US$89 million), is expected to become the biggest port in Vietnam in terms of wharf length, which could handle 18 ships at one time and accommodate ships of up to 110,000 DWT.

It is capable of receiving 185 ships each year, and is designed to protect ships against 8-level wind and storms.

The port will serve both civilian and military vessels.

Cam Ranh Bay holds a strategic position in the East Sea due to its proximity to international navigation routes and Hoang Sa (Paracel) and Truong Sa (Spratly) Archipelagos, as well as to the oil and gas areas in the south-east continental shelf of Vietnam.