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|24 June 2009
DHL to pour $10m into a joint-venture in Vietnam
DHL has announced plans to invest $10m over five years in a new forwarding and logistics joint-venture in Vietnam with local partners including Oriental Logistics, according to an industry website Ifw-net.com.
“The newly launched DHL Global Forwarding (Vietnam) will offer customers the full range of logistics and supply chain services available anywhere in the world,” said Amadou Diallo, CEO, DHL Global Forwarding South Asia Pacific.
He said the new venture would help the expansion of DHL’s existing facilities and services in Vietnam. A new centre of excellence for the growing fashion and apparel export would also be established.
“This industry contributed nearly $2.6bn to Vietnam in the first four months of 2009 alone, with $9.5bn in exports projected for the year,” said Diallo.
“Despite the economic slowdown, the sector is predicted to grow at 5% for the year, which demonstrates some degree of resilience compared to other sectors.”
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