The Government has approved the investment policy for the Can Gio International Transhipment Port project in Ho Chi Minh City, the Government News has reported.

The port, covering 571 ha at the mouth of Cai Mep-Thi Vai river in the city’s Can Gio district, with a total investment capital estimated at least at VND50 trillion ($1.96 billion).

The volume of cargo through the projected port is forecast to reach 4.8 million TEU by 2030, and 16.9 million TEU by 2047.

The project is expected to create about 6,000-8,000 jobs.

It will also create a driving force for the development of the regional infrastructure and favorable conditions for domestic maritime transport businesses to develop and contribute to the socio-economic development, thus stimulating the establishment of an international financial center in the southern city.