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Publication permit No: 60/GP-TTĐT , April 05, 2010.
DHL launches new JV in Vietnam
Date: 6/25/2009 3:08:10 PM
Logistics firm DHL on Tuesday (23 June 2009) unveiled a new joint-venture in which it will invest US$10 million over the next five years.
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The company had last month signed an agreement with its local partner Oriental Logistics to form a new entity named DHL Global Forwarding Vietnam Corporation (DGF Vietnam).
“Oriental Logistics will contribute about 51 percent of the investment cost, while the rest is made up by DHL,” Amadou Diallo, CEO of DHL Global Forwarding South Asia Pacific said at a press briefing in Ho Chi Minh City Tuesday (23th June 2009).
The new entity aims to expand facilities, train employees, upgrade information systems and introduce a range of enhanced services for businesses in Vietnam. “The newly-launched DGF Vietnam will offer customers the full range of logistics and supply chain services available anywhere in the world to local customers,” he said.
“Together with DHL Express and DHL Supply Chain, DHL Global Forwarding will provide a one-stop shop service to customers in the country,” he added.
As part of this investment, by the end of this year, the company will launch the “DHL Fashion and Apparel Center for Excellence” in Vietnam, its first in Southeast Asia.
The center will be comprised of a core team of industry experts and be responsible for developing tailored solutions and provide consultancy services to customers in DHL’s largest fashion and apparel logistics market in the region.
“This industry contributed nearly $2.6 billion to Vietnam in the first four months of 2009 alone, with $9.5 billion in exports projected for 2009,” Diallo said, “Despite the economic slowdown, the sector is predicted to grow at 5 percent for the year which demonstrates some degree of resilience compared to other sectors.”
DHL said it estimates the fashion and apparel logistics industry to be worth $3.9 billion per annum in South and Southeast Asia.
(Source:Thanh Nien News)
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