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DHL unveils fresh investment of US$10mil in Vietnam   2009-06-25 - VietNamNet/SGT

The global logistics company DHL disclosed a plan to invest US$10 million over the next five years in its new joint venture in Vietnam as well as the expansion of its services in this market at a function in HCMC on Tuesday.

At the event, the company clinched an agreement with local partners including Oriental Logistics to establish DHL Global Forwarding (Vietnam) Corporation in order to provide international and domestic cargo freight forwarding services, freight transportation agency services, labeling and packaging, and supporting transportation services.

Other services of the new company cover storage and warehouse, customs clearance, container depot, domestic cargo transport by road, railway, sea, inland waterway and airlines using services of licensed cargo transport providers.

“The newly-launched corporation will offer customers the full range of logistics and supply chain services available anywhere in the world,” Amadou Diallo, chief executive officer of DHL Global Forwarding in South Asia Pacific, said in a statement sent to the Daily before the agreement signing.

As part of the fresh investment, DHL will inaugurate a DHL Fashion and Apparel Center for Excellence in Vietnam late this year, which the company described as its first in Southeast Asia.

The center will develop tailored solutions and provide consultancy services to customers in Vietnam’s fashion and apparel logistics market.

“The fashion and apparel industry is one of the core focus areas for DHL Global Forwarding in Asia Pacific,” Diallo said. He added that this industry was projected to earn US$9.5 billion in exports this year, or 5% more than last year.

Sam Ang, CEO of DHL Global Forwarding in South East Asia, said the company was optimistic about Vietnam’s growth potential as the country had achieved “impressive export growth in the past decade.”

DHL puts the fast-growing fashion and apparel logistics industry in South Asia and South East Asia at US$3.9 billion every year, with Vietnam, Indonesia and Cambodia accounting for more than US$2.5 billion.

The new investment will also be used for expanding DHL’s facilities, training employees, upgrading information systems and introducing more services for Vietnamese enterprises.

The strategic investment is DHL’s preparation to cash in on the anticipated future growth of and the opportunities from the important textile and apparel, footwear and furniture industries in Vietnam.

DHL is also disbursing the US$14 million the company had pledged to develop infrastructure and new facilities in Vietnam.

More than two years ago, the company announced the 51:49 joint venture DHL-VNPT Express Vietnam with VNPT Group, with registered capital of US$5.8 million.

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