The Itochu Group has already submitted a proposal to the Ministry of Transport on co-operation with Vinalines to develop Lach Huyen seaport in Hai Phong.

The Japanese investor would like to invest US$160 million in building two wharves for container ships. The Vietnamese government would invest US$260 million in infrastructure development around the seaport.

The seaport, comprising of a total of 11 wharves with an annual capacity of 35 million tones of cargo would become the largest in the north.

Besides Lach Huyen Seaport, Vinalines is seeking investment from Japan to build and manage Van Phong deep-water seaport in Khanh Hoa Province, the largest in East Asia with 41 wharves.

Some other large transport enterprises in Japan, including Mitsui ORK Lines, have proposed leasing Cai Mep- Thi Vai Seaport when its construction finished in 2010.