Technical Report No. 8 PORT AND SHIPPING

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I-4-3 Vietnam National Transport Strategy Study (VITRANSS) Technical Report No. 8 Shipping and Ports the SVF program, the Central Bank of Malaysia utilized RM 300 million to set up a shipping company named Global Maritime Venture Berhad (GMVB) on March 1994 (NST: September 1994). Government increased the fund to RM 1.1 billion in 1994. From this amount, RM 600 million was set aside for the SFF program. Its coverage was extended to include not only the purchase of new and second-hand vessels, but also for the construction of facilities to build and repair ships. The remaining RM 500 million was allocated to the SVF program. Bank Industri contributed RM 200 million, and other financial institutions were to cough up the remaining RM 300 million (NST: December 1994). Bank Industri, as the managing authority for the SFF program, disbursed the fund for the purchase and building of vessels plying domestic and international routes and the shipyard facility. The total financing given to domestic shipping was RM 165 million, to international shipping, RM 235 million and financing for the shipyard, RM 117.2 million. As of March 1997, the SFF program had a balance of RM 82.2 million(Bank Industri: 1997). 3) Other incentives: In addition to the above-mentioned measures, there are also a number of incentives provided to the Malaysian shipping industry. For one, income is tax-free and import duty exemptions are also provided. For instance, a 30% import duty is imposed on Malaysian vessels which are less than 26 GRT, a 10% duty on vessels between 26 GRT to 4,000 GRT and vessels above 4,000 GRT are exempted from import duties. Provisions are also made for vessel depreciation, whereby accelerated depreciation of ships is allowed with a first year capital allowance of 20% and a further special allowance of 6-10%. The Malaysian government also provides income tax exemptions to the ship’s crew. 4.1.3 Fiscal Measures in the Philippines 1) Domestic Shipping Modernization Program (DSMP) DSMP is a policy-based lending program of the Philippine government with the Development Bank of the Philippines (DBP) as executing agency and JBIC as funding agency. It aims to provide financial assistance to enterprises engaged in domestic shipping and shipping-related industries. JBIC has so far funded Y 15 billion for phase I under the 19 th Yen Loan Package (1995-) and Y 20 billion for phase II under the 22 nd Yen Loan Package (1999-). DSMP I was to a large extent concentrated on bringing in appropriate shipping technology to address the urgent upgrading of the domestic fleet. Under DSMP II, however, the focus of the program is developmental. DSMP
I-4-4 Vietnam National Transport Strategy Study (VITRANSS) Technical Report No. 8 Shipping and Ports II projects are designed to provide more cost-effective maritime transport systems to enhance the competitiveness of Philippine products in national and international markets. Further, DSMP II aims to contribute to a sustainable socio-economic development particularly in the countryside through increasing the area’s productivity, improving the people’s standard of living and supporting government’s food security program. Until the end of 1998, DBP approved 103 vessels, one container handling equipment, one shipyard and three port terminal facilities. The vessels, 9.3 years old on average, lowered the overall age of the fleet to some extent. The financed vessels are divided into the following types: • 28 Passenger ferries / high-speed craft P 502.8 M • 17 Passenger cargo vessels P 830.2 M • 22 Tankers / LPG / tanker barges P 793.3 M • 17 Lighters / self-propelled barges P 231.0 M • 17 General cargo vessels P 339.7 M • 2 Fish carriers P 90.0 M 2) Republic Act No. 7471 Unless covered by the Philippine Overseas Shipping Development Act or RA 7471 (exemption from income tax), the following rates of corporate income tax are provided for under the Tax Reform Act of 1997 (R.A. 8424): Upon effectivity of the Act 35 % As of January 1, 1998 34 % As of January 1, 1999 33 % As of January 1, 2000 32 % RA 7471 provides for tax-free importation of vessels and spare parts for the repair/overhaul of vessels engaged in overseas traffic. It also provided for income tax exemption on income derived from Philippine overseas shipping for a period of 10 years from the date of approval of the law (05 May 1992 to 05 May 2002). The exemption is applicable only if 90% of a company’s net income is reinvested on the construction, purchase or acquisition and/or the modernization or improvement of vessels and related equipment. A further condition is that said investment is not withdrawn for a period of 10 years after the period of income tax exemption expires.
Page 1 and 2: Japan International Cooperation Age
Page 3 and 4: PART I: SHIPPING Technical Report N
Page 5 and 6: Glossary ADB Asian Development Bank
Page 7 and 8: Part I SHIPPING
Page 9 and 10: I-2-1 Vietnam National Transport St
Page 11 and 12: 2.2 Ongoing and Committed Projects
Page 15 and 16: 3 CURRENT SITUATION 3.1 Administrat
Page 19 and 20: 3.2 Industrial Framework Vietnam Na
Page 23 and 24: Table 3.2.1 continued I-3-9 Vietnam
Page 25 and 26: I-3-11 Vietnam National Transport S
Page 27 and 28: Owner Type 10000 ALL DWT % State 9
Page 39 and 40: 3.4 Safety Enhancement and Environm
Page 41 and 42: Recent Undertakings Box 3.4.1 Port
Page 43 and 44: I-3-29 Table 3.4.4 Accession Status
Page 45 and 46: VM Petroleum Standing Committee Fig
Page 47: I-4-2 Vietnam National Transport St
Page 53 and 54: Passenger Ship Cargo Ship (3) Chart
Page 55 and 56: Introduction I-4-10 Vietnam Nationa
Page 57 and 58: Figure 4.2.1 Historical Scale-up of
Page 63 and 64: 5 SHIPPING DEVELOPMENT STRATEGIES 5
Page 71 and 72: Table 5.3.2 Fleet Development plan
Page 75 and 76: 1 INTRODUCTION II-1-1 Vietnam Natio
Page 77 and 78: 3) Coastal Shipping (JICA), March 1
Page 79 and 80: 6) HCMC (United Kingdom), January 1
Page 81 and 82: 2.3 Government Plan and Policy Deve
Page 83 and 84: 3 CURRENT SITUATION 3.1 Port Admini
Page 85 and 86: II-3-3 Vietnam National Transport S
Page 87 and 88: Figure 3.2.1 Ports in Vietnam II-3-
Page 89 and 90: Box 3.3.1 Required Water Depth as F
Page 91 and 92: Source: VINAMARINE Annual Report in
Page 93 and 94: ton ton ton ton II-3-11 Vietnam Nat
Page 95 and 96: 3.5 Finance and Management Role of
Page 97 and 98: Table3.5.2 Estimated Capital Invest
Page 99 and 100:
4 DISCUSSIONS ON KEY PLANNING ISSUE
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4.2 Future Development Requirements
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(3) Empty Container Ratio II-4-5 Vi
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Table 4.2.7 Port Capacity by Cargo
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II-4-9 Figure 4.3.1 Location of Hai
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4.4 Other Key Issues 1) Port Hierar
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II-4-13 Vietnam National Transport
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Table 4.4.4 Weekly Loading Plan for
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5 PROPOSED PORT DEVELOPMENT (2001-2
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Table 5.1.4 Port Hinterland by Prov
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Table 5.1.9 Port Traffic in Souther
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Table 5.2.5 Required Capacity up to
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5.3 Identified Projects for the Mas
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(6) Nha Trang Port Development II-5
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(2) Ho Chi Minh City General Ports
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Figure 5.3.1 Development Plan of Ca
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Dung Quat Figure 5.3.5 Development
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Figure 5.3.9 Development Plan of Po
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The tentative investment schedule i
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APPENDIX A DETAILED PORT DEVELOPMEN
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(Table A.1 continued) No. Name Pres
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(Table A.1continued) Present status
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Table A.2 Investment Capital for Po
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Table B.2 Intra-Asia Container Port
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Table B.4 Multipurpose Wharf for Co
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Notes: Planning base year is 2020.
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Technical Report No. 8 PORT AND SHIPPING

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