Vietnam, Singapore expand cooperation in logistics
Deputy Prime Minister Trinh Dinh Dung on October 18 received Robert Yap, Executive Chairman of YCH Group - a leading Singaporean logistics enterprise which intends to invest in developing a logistics centre in Vietnam.
Deputy Prime Minister Trinh Dinh Dung (R) shakes hands with Robert Yap, Executive Chairman of YCH Group (Source: VNA)
Hanoi (VNA) - Deputy Prime Minister Trinh Dinh Dung on October 18 receivedRobert Yap, Executive Chairman of YCH Group - a leading Singaporean logistics enterprisewhich intends to invest in developing a logistics centre in Vietnam.
According to Robert, after Vietnamese Prime Minister Nguyen Xuan Phuc’s visitto Singapore 2018, the group decided to enter into a joint venture with T&TGroup of Vietnam to develop an international logistics centre and an inlandport in the northern province of Vinh Phuc.
The construction of the centre will begin in the third quarter of 2020, hesaid, adding it is hoped to create a connection point for the circulation of commoditysupply chain between Vietnam and ASEAN, and regional and international markets.
Apart from providing the most modern logistics services, the centre will organizetraining programmes in logistics, he noted.
Forhis part, Deputy PM Dung applauded the investment cooperation project between YCHand T&T, saying that this is a specific manifestation of the Vietnam -Singapore strategic partnership.
Vietnam'sgoal is to build a complete transport infrastructure system, thus forming largelogistics service centres at the international level, in order to reduce costsfor enterprises and improve the quality and competitiveness of products, goodsand the whole economy, he said.
Deputy PM Dung proposed the two firms to closely coordinate in order to soon completethe preparation for the construction of the project.
Singaporeis now the third largest foreign investor and one of the most important tradepartners of Vietnam. It is also a country with leading logistics industry inAsia./.
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Deputy Prime Minister Trinh Dinh Dung (R) shakes hands with Robert Yap, Executive Chairman of YCH Group (Source: VNA) 
