Vietnam and Singapore expand logistics cooperation

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Deputy Prime Minister Trinh Dinh Dung (right) shakes hands with YCH Group Executive Chairman Robert Yap on October 18 in Hanoi. Photo: VNA / CVN

According to Robert Yap, after Vietnamese Prime Minister Nguyen Xuan Phuc's visit to Singapore in 2018, the group decided to create a joint venture with the Vietnamese group T & T to develop an international logistics center and an inland port in the northern province of Vinh Phuc.The construction of the center will begin at 3^e quarter of 2020, he said, adding that this project will have to create a connection point for the circulation of the commodity supply chain between Vietnam and ASEAN, as well as regional and international markets. International.

In addition to providing the most up-to-date logistics services, the center will be running training programs in logistics, he added.

For his part, Deputy Prime Minister Trinh Dinh Dung welcomed the investment cooperation project between YCH and T & T, stressing that this is a specific manifestation of the strategic partnership between Vietnam and Singapore.

The goal of Vietnam is to build a comprehensive transport infrastructure system, thus forming major logistics service centers at the international level, in order to reduce costs for businesses and improve the quality and competitiveness of products, goods and the economy as a whole, he said.

The Vietnamese leader suggested that the two companies work closely together to quickly complete the preparations for the construction of the project.

Singapore is now 3^e foreign investor and one of Vietnam's most important trading partners. It is also a country with a leading logistics sector in Asia.

VNA / CVN