The BMI predicted that the growth would come out at a vigorous annual average of 6.2 percent over the next five years.

In the "Vietnam Shipping Report Quarter 4 2010", the BMI projected an increase in volume at the Port of Ho Chi Minh City (also known as SNP, Saigon New Port), up by 6.2 percent, after the 5.2 percent contraction during the slump last year.

At Da Nang Port (DNP) it put this year's volume increase at 2.3 percent. Container throughput would also be in positive territory at both ports, up by 3.5 percent at SNP and by 6.2 percent at DNP (where container volumes are much smaller).

According to the BMI, Vietnam's total imports and exports would see a recovery this year with 5.4 percent growth, followed by a slightly stronger pick-up in 2011, with 6.2 percent growth. Over the next five years, total foreign trade will expand at an annual average rate of 6.5 percent, the BMI calculated, adding that over this period, exports would grow at an average per annum rate of 7.3 percent, ahead of imports at 5.9 percent.

The BMI's latest report on Vietnam wrote that though the possibility of the trade deficit and inflation both rising too sharply in the time to come, strong inflows of foreign direct investment would help as a counterweight on the foreign payments front, and also play a role in improving the country's stretched infrastructure.

The BMI was in the opinion that in the second half of 2010 there are further signs of catch-up investment in Vietnam's ports after a contract signed in June between the Gemalink Joint Stock Company and the Republic of Korea alliance Dealim-SAMWHA to develop the Gemalink Cai Mep Container Terminal and the Japan's largest shipping company, Mitsui OSK Line (MOL)’s plan to set up a terminal operation company and manage a new container terminal at Cai Mep.