The northern port city of Hai Phong has decided to reduce seaport infrastructure fees for watercraft by 50 per cent from January 1.

Under a decision from local authorities, fees for imported and exported goods entering or leaving by inland waterway transport in the city will be cut by 50 per cent.

Vice Chairman of the Hai Phong Logistics Association Le Manh Cuong said the move will create better conditions for waterway transport providers, helping reduce transport costs and thus increase their competitiveness.

Hai Phong has an inland waterway network stretching nearly 2,700 km, accounting for some 40 per cent of the country’s total.

An estimated 80,000 TEUs and 3.5 million tons of cargo are imported and exported via inland waterway transport in Hai Phong each year. The fee reduction is expected to help cut business costs by VND40 billion ($1.69 million) a year.