Thang told Vietnam News Agency’s reporter on August 21 that under the CAAV’s document on the establishment of Vinpearl Air submitted to the Ministry of Transport, the 202.6-million-USD airline will increase the number of its aircraft to 36 by 2025, adding six to its fleet each year.
In July, Vietnam Maritime Corporation (VIMC) signed a joint venture contract with its Japanese partner, Suzue, on shipping and logistics business. Sumitomo Corporation recently cooperated with Suzuyo and a Japanese public-private investment fund to spend nearly US$40 million buying a 10% stake of Gemadept Corporation of Vietnam.
The logistics market has become more vibrant in recent times with large merger and acquisition (M&A) deals between Vietnamese businesses and foreign investors who have strong financial and technological potential, especially those from Japan and the Republic of Korea.
According to the Việt Nam Logistics Business Association, more than 70 per cent of the country’s 3,000 logistics firms are in the city, mainly operating in shipping and delivering, transportation, warehousing, ports, loading and unloading, distribution, customs clearance and integrated logistics services.
Average vessel age of Vietnamese ones is 15.6 years old, lower than the world’s ones of 20.8 years old. Especially, the number of Vietnamese containers increased from 19 in 2013 to 39 in 2019.
Minister Hung voiced his support for the city’s stance on technology adoption to bolster its economic growth and resolve its problems. He said the Ministry of Information and Communications regards the city as the driving force behind information and communications technology development in the country.
Earlier this month, Singapore-based Symphony International Holdings spent US$42.6 million to buy 28.57 per cent of Indo Trans Logistics Joint Stock Company (ITL Corp) from Singapore Post.
Prime Minister Nguyen Xuan Phuc has signed a decree enacting two Schedules on preferential export/import rates, which brings provisions of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) into force.