Dry port has emerged as a critical element of transport infrastructure, eliciting substantial research and investment for its development. The strategic selection of dry port locations not only enhances the effectiveness of connections between seaports and hinterlands but also supports the sustainable advancement of the logistics industry, given that dry port operations can integrate with more environmentally friendly transportation modes, particularly inland waterway transport. Extensive research has been conducted to identify optimal dry port locations within the framework of inland waterway container terminals. Nevertheless, these studies primarily focus on developed economies, leaving a notable research void in developing countries. This paper aims to propose a methodological framework for selecting the most suitable dry port location, with a particular emphasis on integration with inland waterway transport in developing nations. This study implements a combination of the Best-Worst Method (BWM) and Elimination Et Choix Traduisant la Realité III (ELECTRE III) in this domain. An analytical case study of Northern Vietnam, considering five alternative dry ports, is conducted to demonstrate the efficacy of the proposed framework. Twenty-seven Vietnamese experts, categorized into three groups—policymakers and consultants, dry port investors and operators, and dry port users—participate in the decision-making process, contributing insights to this case study. An aggregated group decision-making approach is employed. Four principal criteria—economic, accessibility, location, and environmental—are utilized to assess and rank the five alternatives. The findings reveal that a reduction in transport cost is the most critical sub-criterion, while environmental considerations and railway accessibility receive the lowest priority.