In the bustling atmosphere of the entire country celebrating the 51st anniversary of the Liberation of the South and National Reunification, looking back at Vietnam’s economic picture, we are witnessing a historic and turning-point transformation. It is a powerful transition from the period of opening up and international integration to a new era deeply marked by the aspiration to elevate the country’s position on the world economic map.
Fifty-one years after national reunification, giant container vessels carrying hundreds of millions of tons of import and export cargo every year still enter and leave Cai Mep – Thi Vai day and night—one of the leading deep-water port clusters in Southeast Asia, capable of receiving the world’s largest mega-vessels. There, e-STS electric cranes rise high in the dawn, 100% electric barges glide across the river, and an intelligent monitoring screen system displays every container in real time. This is not a future vision, this is the reality operating smoothly every day at Gemalink Deep-sea Port, owned and operated by a Vietnamese enterprise itself.
Gemadept Group Corporation (Ticker: GMD – HoSE)—a pioneering enterprise in the seaport and logistics industry with a 36-year history—is the very model of a business leading new trends in Vietnam’s maritime industry. Born in the early years of Doi Moi era, when Vietnam was taking its first steps to integrate with the world, Gemadept has been attached to every growth beat of the economy: from the first export shipments of the 1990s to the status of an infrastructure developer and maritime operator of regional stature today.
Entering the new era—an era in which Vietnam aims to become a developed, high-income country by 2045—Gemadept constantly creates the logistics “lifeline” for an independent and autonomous economy: modern seaports, smooth transport corridors, and an integrated, green, and smart port-logistics-transport ecosystem that is strong enough to compete firmly on the global maritime map. Gemadept’s story is not just a business story, but also a testament to the “Bond to Beyond” spirit—Connecting to go further. It is the bond between the nation’s heroic heritage and the aspiration to build an independent, autonomous economy in the new era.
That pioneering spirit continued to be lit up this past April 17, 2026, when the mega-project Gemalink Phase II was officially commenced in the Cai Mep – Thi Vai area in an atmosphere carrying multiple layers of strategic meaning. With a total investment capital for both phases of over 13.7 trillion VND, the project continues to receive the close companionship of strategic partner CMA CGM—one of the three largest container shipping lines in the world. Upon completion of Phase II, the project will bring Gemalink’s total capacity past the threshold of 3 million TEUs per year and will be able to receive mega container ships with a deadweight tonnage of up to 250,000 DWT.
The project is not only a key infrastructure project but also sends a message of a Vietnam mastering and elevating strategic infrastructure, where the internal strength of domestic enterprises merges with the international flow to build modern deep-water ports, affirming its role as an important link in the global supply chain.
Nam Dinh Vu Port, owned by Gemadept Group Corporation, is the largest port in Northern Vietnam
2021-2025: Steadfast Through the “Storm,” Affirming the Leading Position
Looking back at the 2021-2025 period, the global maritime and logistics industry experienced a highly volatile cycle with successive “black swan” events, from supply chain disruptions due to the pandemic to geopolitical hotspots in Eastern Europe and the Red Sea. In the context of wildly fluctuating operating costs and the rerouting of critical trade corridors, the adaptability of businesses became a measure of survival.
It was precisely within that unprecedented “litmus test” that Gemadept not only maintained its leading position in efficient and sustainable business but also widened the gap with the rest of the industry. The Company established its leading position with an impressive compound annual growth rate (CAGR) of 37%. At the end of the pivotal year 2025, Gemadept recorded net revenue of VND 5,956 billion and profit-before-tax of VND 2,521 billion, exceeding the targets approved by the General Shareholders’ Meeting by 20% and 26% respectively. The cumulative revenue exceeding VND 22,000 billion in 5 years and profit-before-tax increasing fivefold compared to 2020 are prime examples of the effectiveness of Gemadept’s flexible management model and investment strategy focused on high-value core assets.
In terms of throughput volume, the strength of Gemadept’s ecosystem continued to be affirmed with a total container throughput across the system reaching over 20 million TEUs throughout the cycle. In 2025 alone, the volume surpassed the threshold of 5 million TEUs, representing a 15% growth compared to the previous year and contributing nearly 15% of the total container throughput across the nationwide seaport system.
Notably, growth in scale has always gone hand in hand with the optimization of operational efficiency. In 2025, the profit-before-tax margin reached 42% and the profit-after-tax margin was maintained at 39%. Capital efficiency ratios also recorded their most positive results in the past 5 years, with ROA reaching 12% and ROE reaching 16%.
The foundation for these achievements is a healthy and disciplined financial structure. The Company’s equity reached VND 14,918 billion, accounting for 75% of total assets. Well-controlling the debt-to-equity ratio at a low level (0.33 times) along with an interest coverage ratio of 23.39 times has created a solid balance sheet. This provides strategic resource leeway, helping Gemadept remain proactive and ready for large-scale infrastructure investment plans in the next development phase.
Gemadept’s infrastructure development in the 2021-2025 period is not a collection of disconnected pieces, but rather the completion of a tightly integrated ecosystem from North to South.
In the Northern region, the Nam Dinh Vu Port Cluster established its position as the largest contiguous port cluster in the area after Phase III was put into operation ahead of schedule at the end of 2025. With a total berth length of 1,540 meters and a capacity of 2 million TEUs per year, this cluster is capable of simultaneously receiving 7 feeder vessels, meeting the growth demands of intra-Asia shipping and anticipating the wave of global manufacturing chain shifts.
Also in Hai Phong, Gemadept has affirmed its role as a pioneering private enterprise in the public-private partnership model through the project to upgrade the depth of the Ha Nam Canal channel. By proactively investing to upgrade the channel depth standard to -8.5 meters, the project has brought direct and practical benefits to the entire region: helping shipping lines optimize vessel payload, reduce operating costs, and enhance maritime safety coefficients. “Clearing” this vital route not only elevates the competitive capacity of the entire Hai Phong port area but also stands as a testament to the proactive spirit of accompanying the State in untying national infrastructure bottlenecks.
The acceleration of infrastructure development in the North is powerfully resonated by the position of the Southern “locomotive” with Gemalink Port achieving an impressive throughput of over 1.9 million TEUs over the past year, serving up to 25% of the throughput of the entire Cai Mep – Thi Vai area, affirming its position in the Top 19 commercial ports in the world that receive the largest mega container ships today. In addition, Gemalink is the only deep-water port in the Cai Mep – Thi Vai area capable of investment expansion over the next 5 years. Together with the companionship of CMA CGM, the world’s 3rd largest shipping line, Gemalink Port (both phases) will have sufficient capacity to meet the growing volume of cargo and receive transshipment cargo flows from countries in the region, turning the port into a leading regional transshipment hub and maintaining its position as the largest deep-water port in the country. The expansion of Gemalink Phase II with partner CMA CGM lies within the 2026-2030 strategic roadmap of Gemadept Group, revolving around its core pillars: port operation, port-logistics, and river-sea transport.
Cùng với việc mở rộng quy mô, Tập đoàn không ngừng củng cố “quyền lực mềm” thông qua việc áp dụng các bộ tiêu chuẩn quản trị khu vực (ACGS) và hướng tới chuẩn mực OECD. Ðối với Gemadept, quản trị minh bạch chính là hành lang đạo đức cốt lõi để giữ cho mọi con số tăng trưởng mang ý nghĩa bền vững thực chất và tạo giá trị cho các cổ đông và đối tác quốc tế.
Along with expanding its scale, theCompany continuously strengthens its “soft power” through the application of regional corporate governance standards (ACGS) and aiming toward OECD benchmarks. For Gemadept, transparent governance is the core ethical corridor to keep every growth figure substantively sustainable and to create value for shareholders and partners.
The groundbreaking ceremony for Gemalink Phase II on April 17, 2026, will increase Gemalink’s total capacity to over 3 million TEU/year
Macro Strategy: Circular Ecosystem and the Mission of “Greening” the Logistics Flow
After three decades of accompanying the country, Gemadept is reshaping its business model: from a pure port operator into the “architect” of an integrated maritime ecosystem. Here, the seaport chain acts as the strategic “anchor,” combining with specialized logistics and river-sea transport to create a solid “three-legged stool” position.
Simultaneously, for Gemadept, “greening” is no longer just a title, but a survival imperative to penetrate the global supply chain. At key ports such as Gemalink and Nam Dinh Vu, 95% of the front-line equipment has been fully electrified.
Gemalink’s achievement of the Green Certificate according to the TCCS 02:2022/CHHVN standard, while also being one of the pioneering facilities to conduct a greenhouse gas inventory according to the international ISO 14064-1:2018 standard and publish its Scope 3 emissions report, has affirmed the Company’s leading position in meeting strict standards from major partners such as NIKE or CMA CGM… As of the end of 2025, 4 ports in the Gemadept’s network have achieved green port standards.
In addition, establishing and tightening strong partnerships with major banks such as BIDV, Vietcombank, and HSBC has opened up “priority corridors” for green capital and a solid financial standing in the international arena. Prestigious awards such as the Top 20 VNSI index, Top 3 Best Sustainability Reports in 2025, Top 30 Strategic Investment Corporations in Vietnam (ALPHA 30), along with reputable awards like the Corporate Excellence Award – APEA 2025 and The Asset Triple A Awards serve as an affirmation: at Gemadept, all growth figures are linked to human values and the responsibility of nation-building.
Vision 2030: Partnering in Building an International Maritime and Financial Center
Gemadept’s journey forward always goes hand in hand with the shifting fortunes and opportunities of the nation. In the context of Ho Chi Minh City realizing breakthrough policies from the Special Urban Law and developing the International Financial Center (IFC), Gemadept is honored to be selected as a strategic partner, contributing to building the development space for a modern maritime economy – logistics model in the South.
Accordingly, Gemadept’s 2030 vision is to co-create a modern Maritime Financial Center with Ho Chi Minh City. Here, with its position as one of the four main pillars of the IFC, Gemadept contributes to creating a “magnet” that attracts international capital flows as well as global insurance and shipping institutions. This will be the convergence point for billion-dollar commercial transactions, directly connecting Vietnam into the maritime financial lifeline of the world.
Sự hiện diện mạnh mẽ của các “cánh tay nối dài” Gemadept tại khu vực Cái Mép – Thị Vải đang tạo ra một xung lực mới cho vùng kinh tế trọng điểm. Sự kết nối với các đại dự án hàng không, đường sắt và mạng lưới cao tốc vành đai huyết mạch tạo nền tảng để hình thành nên một hệ sinh thái đô thị cảng biển xanh, thông minh và bền vững.
The strong presence of Gemadept’s “extended arms” in the Cai Mep – Thi Vai area is creating a new impulse for the key economic region. The connection with mega aviation, railway projects, and the vital beltway expressway network lays the foundation for forming a green, smart, and sustainable seaport urban ecosystem.
To realize that responsibility, the Company’s 2026-2030 strategy is built on five solid pillars: standardized governance – approaching international standards; strategic infrastructure – focusing resources on next-generation infrastructure projects; concentric services – deeply developing the integrated logistics ecosystem; technology-driven – applying AI and automation to optimize operations; high-quality human resources – preserving corporate culture and nurturing the next generation of talent.
With a pioneering spirit, Gemadept is ready to join the country in entering a new era, where Vietnamese intelligence and internal strength will leave a strong mark on the global maritime economic map.
The Vietnamese Will to Soar in a Brilliant Era
Despite the geopolitical variables and global supply chain challenges that still lie ahead, it is precisely in the face of adversity that the resilience of Vietnamese enterprises shines even brighter. The successful “trial by fire” of the 2021-2025 period serves as proof that Gemadept is not only ready to respond to risks but also possesses the internal strength to rise more vigorously after every storm.
Hôm nay, 51 năm sau ngày đất nước thống nhất, khát vọng vươn xa của người Việt không chỉ là khẩu hiệu. Khát vọng ấy đang hiển hiện sống động qua những siêu dự án như cảng nước sâu Gemalink giai đoạn II – niềm tự hào do chính bàn tay và trí tuệ Việt Nam làm chủ, định vị quốc gia tại vị trí trung tâm của chuỗi logistics thế giới.
Today, 51 years after national reunification, the aspiration of the Vietnamese people to reach far is no longer just a slogan. That aspiration is vividly manifesting through mega projects such as Gemalink Deep-sea Port Phase II, a source of pride mastered by Vietnamese hands and minds, positioning the nation at the center of the global logistics chain.
The upcoming 2026 Annual General Meeting of Shareholders is not merely an annual meeting, but a milestone event marking Gemadept’s steps across the threshold into a new cycle. With a solid foundation and the companionship of shareholders, customers, partners, and relevant authorities, Gemadept stands ready to sail far alongside the national maritime industry, conquering green oceans in the new era.
Source: Báo Đầu Tư
