Singapore’s leading logistics firm YCH is scheduled to start construction of a logistics center and an international inland container depot (ICD) by the third quarter of 2020, according to YCH’s CEO Robert Yap.
Overview of the meeting. Source: VGP.
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The center, jointly invested by YCH and Vietnam T&T’s Group, would be located in Vietnam’s northern Vinh Phuc province.
With an advantage of geographical location and adequate infrastructure, the center is expected to become a focal point facilitating the global supply chain among Vietnam, ASEAN, regional and international markets, said Yap.
At the meeting, Dung said the project is an example of the strategic partnership between Vietnam and Singapore.
As of present, Singapore is among top three out of 130 countries and territories investing in Vietnam. Its logistics sector is among the most advanced in Asia.
Dung said Vietnam’s target is to form a complete transport infrastructure network, including the establishment of a world-class logistics center, aiming to reduce costs for enterprises and enhancing the competitiveness of the economy.
Dung requested related parties to closely cooperate for a speedy construction of the project. Once completed, the project would help boost Vietnam and ASEAN exports to international markets and become a successful symbol in cooperation between Vietnamese and Singaporean enterprises, Dung asserted.
