Vinalines chairman Duong Chi Dung said the government had appointed it to preside over investment in Khanh Hoa province's Van Phong and Haiphong's Lach Huyen port.

The two provinces would introduce interested investors to Vinalines to discuss potential business.

"With regard to aspects of economic development and national security Van Phong and Lach Huyen are the most important ports in Vietnam.  By appointing Vinalines, a leading marine and port construction corporation, investments would be supervised and the organisation would aid development of both ports," said Dung.

At present, the corporation works with the Marine Department of Vietnam, and the provinces to collect ideas from ministries and agencies about investment projects concerning the two ports. These projects would be submitted to the prime minister foe approval, Dung said.

Vinalines would start building Van Phong's first two berths later this year and the Lach Huyen project would start in 2008.

"We will build the first two berths ourselves and after that we will co-operate other investors to develop the two seaports," Dung said.

The ports are among the most important projects in the development of Vietnam's maritime industry.

Lach Huyen deep-sea port will operate as an international gateway and transit port for the northern province that is expected to meet increasing sea transport needs in Vietnam's northern economic industrial zones as well as China's southern localities.

After completion, the port will have the ability to accommodate vessels of between 60,000dwt to 80,000dwt. Early this year, Zeebrugge of Port expressed interest in investing into Lach Huyen port via a joint venture with Dinh Vu Development Joint Venture Company.

Van Phong will be developed as a transit-sea-port to accommodate container vessels of up to 15,000 TEU, making it one of the largest transit-ports in the region. The project has attracted the attention of Sumitomo Group who would like to invest billions of dollars. However, the group has yet to get agreement from the Vietnamese Government.      

"The Sumitomo Group has the financial ability and experience of building large infrastructure systems. We will certainly discuss working together to build the port," Dung said.