PM Nguyen Xuan Phuc presents a gift to the Saigon New Port Corporation. (Source: VNA)

HCM City (VNA) – Prime Minister Nguyen Xuan Phuc on December 19 visited Saigon New Port, one of the strong economic unit of the Vietnam People’s Navy, asking the company to fulfil its both economic and defence missions.

Praising the achievements the company has made over the past time, the Prime Minister said Saigon New Port needs to work harder to build itself into a leading defence economic unit in Vietnam.

The corporation should expand production and focus on approved strategic positions while continuing to reorganize its affiliates, he said.

The PM urged the company to focus on raising labour productivity, ensuring stable income for workers and improving competitiveness.

The Saigon New Port Corporation, a 100 percent State-owned enterprise, operates under the ‘one member limited liability company’ model and focuses on ports, logistics and sea transport

The company has a market capitalisation of over 30 trillion VND (1.35 billion USD). It has grown 21 percent per year on average.

In 2016, the company expects to earn 17,263 billion VND (775 million USD) in revenue and 1,952 billion VND (88 million USD) in profit.

The company possesses 17 ports capable of accommodating up to 200,000 DWT. Its container port services account for 50 percent of market share in Vietnam 89 percent in HCM City.

Saigon New Port is named in the top 20 logistics companies in Vietnam with sea transport services making up 25 percent of the domestic market share.-VNA