• V

    Besides trying to obtain competitive shipping rates, documentation is just as, if not more important when trying to send an ocean freight shipment.

    There will be many important shipping documents you’ll handle over the course of the process, but one thing to keep an extra eye on will be the Bill of Lading.

    As it stands, there are many variations of Bill of Ladings to begin with, such as the original B/L, Telex Release, and Express Release and these may be confusing.

    In this post, we’ll address the differences between the House Bill of Lading (HBL) and the Master Bill of Lading (MBL).
    Master Bill of Lading
    The Master Bill of Lading is commonly also known as the Ocean or Carrier Bill of Lading. This is issued by the shipping line to the NVOCC. In most cases, the NVOCC or its agent is the shipper. Likewise, the consignee will likely be the NVOCC or its destination agents or counterparts. And the notify party could be the same as the consignee or any other party.

    How it works: As soon as the NVOCC receives the shipper’s shipment, it will re-book the same cargo with shipping carriers. Once the carrier confirms reception, it releases the Master Bill of Lading to the entity who made the booking who, in this case, is the NVOCC.

    House Bill of Lading
    The House Bill of Lading is issued by the NVOCC to the actual customer. The shipper listed is the actual shipper/exporter, and the consignee the receiver/importer. The notify party may be the same as the consignee or any other party*.

    How it works: As soon as the NVOCC receives the shipment from the shipper and ensures that all customs paperwork is complete, it releases the House Bill of Lading to the shipper.

    *Note: Cases in which a Letter of Credit is used as a payment method, the shipper, consignee, and notify party fields may differ depending on the agreement.

    Here’s an infographic to illustrate the main differences between a house and master Bill of Lading.

    Important things to note
    In the US, only freight forwarders who are also registered as NVOCCs are allowed to sign Bill of Ladings. Non NVOCC-registered freight forwarders cannot issue Bill of Ladings nor appear as a shipper on Bill of Ladings. It can only be listed as a freight forwarder on the Master Bill of Ladings and its role is to help with customs clearance, etc.

    All information on the Master Bill of Lading and House Bill of Lading including vessel information, description of cargo, container seal numbers, weight, number of containers, sail date, etc, need to match. The only differences should only be in the shipper, consignee, notify party, and pick up location fields.

    posted in Blogs read more
  • V

    The Vietnamese government has issued Decree 69/2018/ND-CP (“Decree 69”) to regulate the temporary import and re-export of goods in Vietnam. The two major stipulations focus on Vietnamese traders processing goods for foreign merchants and the time limit for temporary import and re-export of goods. Decree 69 is already in effect.

    Processing goods
    As per Decree 69, Vietnamese traders are allowed to process goods for foreign firms, except for goods that are banned or temporarily suspended. For goods that are on the list of conditional business lines, traders have to meet the production or trading conditions to be eligible for overseas exports.

    In case of imported or exported goods, which need to have permits, Vietnamese traders can sign the processing contracts on behalf of the foreign traders only after they receive licenses from the Ministry of Industry and Trade.

    Processing merchants are exempted from import and export tariffs according to the tax laws for temporarily imported goods. However, they have to pay the import and export tariffs for materials and supplies purchased in the country.

    Time limit for re-export

    According to Decree 69, goods imported for re-export cannot be kept in Vietnam for more than 60 days once the customs formalities are completed. Once the 60 days are complete, traders have to either re-export their goods or destroy them. All goods are subject to inspections by customs officials.

    If an extension is required, firms have to send a written request to the customs department that handles import and re-export procedures. At most only two extensions can be granted with each extension of not more than 30 days.

    In addition, the decree stipulates that temporary import and re-export of goods can only be conducted through two contracts, export and import contracts, which need to be signed by traders of the exporting and importing countries.

    For re-exported frozen goods, Decree 69 has stipulated certain specific conditions. Firms need to have a warehouse and yard with a minimum capacity of 100 containers (40 feet each) on a minimum area of at least 1,500 m2. In addition, the warehouse and yard need to be surrounded by fences, with a minimum height of 2.5m. In terms of capital, they need to deposit VND 10 billion at credit institutions in cities/provinces where the firms have their warehouse and yards.
    The new decree will lead to a reduction in violations related to temporary import and re-export of goods. Earlier, some of the goods to be re-exported were sold in the domestic market, including goods that are banned from import or domestic consumption. This issue not only leads to a violation of international trade norms but also disrupts the local market, as these goods are not subjected to taxes which make them cheaper.

    posted in Vietnam read more
  • V

    The Vietnam Airlines Corporation plans to build a logistics centre in the Mekong Delta city of Can Tho this year, Deputy General Director Trinh Hong Quang said at a meeting with municipal leaders on May 18.

    The 30ha centre will be built next to Can Tho International Airport to meet the increasing demand of goods transportation by international and domestic airlines, with a capacity of transporting at least 600,000 tonnes of goods per year.

    Along with the construction of the logistics centre, Quang said the corporation will open new routes from Can Tho city to other destinations in the country and abroad.

    He said the corporation opened three logistics centres at Noi Bai, Tan Son Nhat and Da Nang international airports, but it is difficult to expand these centres due to the lack of land.

    According to General Director of Tan Son Nhat Cargo Service Joint Stock Company Nguyen Cao Cuong, cargo throughout the Can Tho International Airport is currently 4,200 tonnes per year. Meanwhile, the output of agricultural and aquatic products and other goods of Can Tho through the Tan Son Nhat International Airport is 150 tonnes per day.

    Speaking at the meeting, Vice Chairman of the municipal People’s Committee Dao Anh Dung said the city was ready to create good conditions for Vietnam Airlines to build the planned logistics hub.

    He expected the corporation to work with Can Tho city to complete procedures soon to receive an investment licence in August, when the city will host an investment promotion conference.

    posted in Vietnam read more
  • V

    At the beginning of second quarter, but now most wood processors and exporters have "ripped" export orders until the end of the year. However, the concern and anxiety of the whole industry is how to handle enough raw material wood.

    80% of enterprises have full orders

    According to the Ministry of Agriculture and Rural Development, the turnover accumulation at the end of April for wood and wood products export is estimated at $ 2.6 billion, up 7.3% over the same period in 2017. The United States, China, Japan and Korea are the four largest markets of wood products importers from Vietnam in the first 3 months, accounted for 77.8% of the total value of wood and wood products. The markets with strong export value were South Korea (44.8%), France (22.8%) and the United States (10.8%).

    Mr Nguyen Ton Quyen, Vice Chairman cum General Secretary of Vietnam Association of Wood and Forest Products (Vifores), said that the target for export of forest products was 9 billion USD this year, of which $ 8.6 billion is wood, the rest are other items such as rattan, bamboo, etc. This figure increased about $ 1 billion compared to the previous year. The export enterprises are quite active. "Up to now, 80% of enterprises have signed export contracts until the end of the year. For example, in the North, Woowsland JSC, Nam Dinh Forest Products Joint Stock Company (Nafoco) has signed 100% export contracts this year. This year's Woowsland export is about $ 55 million, Nafoco is about $ 40 million. In the central region, companies such as Tien Dat, Dai Thanh, Phu Tai ... have reached about 80% of export contracts in 2018. In Binh Duong, 100% of Vietnamese enterprises have signed contracts to export goods for the whole year "said Quyen.

    Although export growth has been good, import of wood material has also been increasing. The Ministry of Agriculture and Rural Development shows that in the first four months of this year, Vietnam imported $ 698 million, up 2.5% over the same period in 2017. In the first three months of this year, import value of wood and wood products in most of the major import markets increased over the same period in 2017, except for Cambodia (down 56%), Malaysia (down 5.4%) and New Zealand (down 2.1%). Mr. Quyen commented that from now until the end of the year and in the next phase, the biggest difficulty for the wood industry is lack of raw materials. "According to calculations, exports increased by 1 billion dollars, the volume of raw materials increased by 3.5 million m3. Domestic wood and planted wood only satisfies about 10-15% of requirements. Each year, domestic timber exploits about 18-19 million m3, only 2-3 million m3 of wood furniture, the rest are chips, artificial boards ..., the rest are imported," said Quyen.

    Take the raw material

    To solve the problem of wood materials for processing and export, according to Mr. Quyen there are three main solutions. Firstly, Vifores recommends the State minimize export of raw materials, in particular chips. In 2017, export of chipwood was about 8 million tons, accounting for 12 million m3 of wood. The government should limit exports for timber for different purposes.

    From the perspective of enterprises, the solution is that enterprises must use new technology to save on fuel consumption. Previously, 1 m3 of wood used 60-70% for furniture products, the cost saving effort should be increased. Currently, the model for drying sawn timber has been built in Tuyen Quang area with a total investment of about 132 billion, and it is expected to be inaugurated in November. Accordingly, the drying model and automatic cutting will increase the productivity of wood material to increase by 1.5 times. For example, one meter of sawn timber uses 60% of the wood, in the past it used to be 70%. "The third solution is to make the most of domestic raw materials such as rubber wood, home garden, fruit tree ... To do this, it is necessary to have support policies of the State, as the State should not interfere too deeply in transport and origin of wood ..., " said Mr Quyen.

    Relating to the story of wood export, approaching from another angle, representatives of the Association of Wood and Wood Processing HCM: Compare the total trade of furniture of 100 exporting countries, Vietnam accounts for about 6%. This shows that Vietnam’s starting point is very low while the market opportunities are still very good, the ability to increase market share is very high. In order to increase orders, besides enterprises self-upgrades of products, productivity, quality, management level and competitive prices, the Government should have trade promotion programs associated with advertising measures of the brand name, "Vietnam is the world's wood furniture factory for legal and sustainable wood." Accordingly, the trade promotion agency coordinates with trade counselors to create programs and invite potential partners, especially markets where the government has just signed a free trade agreement (FTA). The leading companies have many new products and potential exporters will cover the cost to participate in promoting the product to the right audience to look for large orders for many small businesses.

    posted in Vietnam read more
  • V

    After 5 months of implementation of the automated system for Aviation Customs management and supervision for imported and exported goods and in transit at Noi Bai International Airport, the Customs automated system has brought positive results in reducing clearance time for enterprises.

    According to Ha Noi Customs Department, the deployment of the automated system has saved at least 27 minutes per shipment. Noi Bai Airport has 3,000 shipments on average per day; thereby, it saves 81,000 minutes equal to 1,350 hours per day.

    In addition, it also saves time and cost of goods release for importers and exporters because they do not have to submit paper dossiers and goods for the Customs.

    Also, importers and exporters can search the status of their shipments (in and out warehouse or permitted out of the supervision area) in accordance with the Unique Consignment Reference number to actively take goods.

    The process of automated Customs management and supervision for imported and exported goods and in transit at Noi Bai International Airport includes the following steps:

    -The airlines sends information about cargo 3 hours before a plane lands;

    -The Customs grants the Unique Consignment Reference number;

    -The warehouse firms send information of actual goods in the warehouses;

    • Importers and exporters carry out Customs declaration;

    -The Customs send information of Customs declarations that meet conditions to the Supervision area;

    -The warehouse firms check declared information with actual goods;

    -The warehouse firms send information of goods that importers and exporters are permitted to take.

    posted in Vietnam read more
  • V

    Ha Noi Customs Department is the first unit in the Customs sector implementing arrangement, establishment and restructure of Teams (groups) under Customs Branches, Post Clearance Audit Customs Branches and Customs Enforcement Teams. Currently, 18 teams have been reduced. At the same time, decisions on competences and tasks of teams under Customs branches Post Clearance Audit Customs Branches and Customs Enforcement Teams have been issued by Ha Noi Customs Department and took effect on 1st April 2018.

    Supervising imported and exported goods at Noi Bai International Airport Customs Branch.
    The implementation of requirement and direction of Party, the State, leaders of the Ministry of Finance and the General Department of Vietnam Customs related to the streamlining of the the apparatus and enhancement effectiveness and efficiency is not a simple task, because it is directly related to people. How to assign leaders suitably and promote the ability of cadres and civil servants, as well as implement policies and mechanisms to stabilize thoughts for officials? This is the issue that Ha Noi Customs Department has resolved and deployed in accordance with the direction of leaders at all levels.

    Specifically, implementing Decision No.297/QD-TCHQ dated 6th February 2018 of the General Department of Vietnam Customs regulating the organizational structure of Customs Branches, Post Clearance Audit Customs Branches, Customs Enforcement Teams and Anti-drugs Enforcement Team, Ha Noi Customs Department has issued decisions on regulations of competences and tasks of Teams (Groups). Head of Personnel and Organization Division (under Ha Noi Customs Department) Nguyen Anh Tuan, said that in order to effectively implement the arrangement, establishment and restructure of Teams (Groups), it is important to publicize and implement requirements and directions in a strict manner; stabilize thoughts for officials. At the same time, developing criteria to arrange leaders of team (group) level in a transparent and objective way.

    First of all, the assessment and restructure of the teams’ officials and the settlement of changing position of some teams’ officials have been implemented step by step by Ha Noi Customs Department.

    “Ha Noi Customs Department held a seminar on personnel issue with the participation of heads of units, representatives of Personnel and Organization Department (under the General Department of Vietnam Customs) to discuss and approve the implementation of policies of Party, the State and the Customs sector on streamlining of organizational apparatus. Selecting officers with high responsibilities, professional skills and management capability. Especially, giving priority for young cadres to restructure leaders to ensure quality and enhance the effectiveness of leadership and management. Besides, evaluating criteria to assign the quantity of deputy head of each team after restructuring. The number of head and deputy head must be reduced. This content is always mentioned in the Department’s online meetings” Mr. Tuan said.

    Effectively deploying the arrangement and streamlining of Team’s (Group) apparatus, Mr. Tuan added that it is important to do the ideological work well for each cadre and civil servant to grasp, share, rectify and determine responsibility depending on each case, stage, each level. The Departments’ leaders will directly talk with cadres who have not understood the policies. From the propaganda of policies of leaders at all levels on basis of criteria, standards and conditions as well as personnel capacity and their desires, Ha Noi Customs Department has issued decisions on position changes for 17 Team leaders and 18 Deputy Team leaders.
    How is the order to assess the quality and efficiency of transfer and assignment of Teams’ staff in this period compared to the previous period as well as the implementation of regulations on functions and tasks of Teams? After 3 months of implementation, Ha Noi Customs Department will preliminarily review and evaluate carefully to supplement and amend in accordance with requirements of tasks. If cadres do not meet task requirements, they will be replaced by other cadres.

    posted in Vietnam read more
  • V

    On 20 April 2018, the Government issued Decree No. 59/2018 / ND-CP amending and supplementing a number of articles of Decree No. 08/2015 / ND-CP detailing and implementing measures to implement the Law on Customs clearance, inspections, supervision and control. Around this Decree, the Customs Newspaper interviewed Mr. Nguyen Nhat Kha, Deputy Director of Customs Supervision and Management Department (under the General Department of Vietnam Customs) - the unit assigned to preside over the draft.

    Mr. Nguyen Nhat Kha, Deputy Director of Customs Supervision and Management Department (under the General Department of Vietnam Customs) - the unit assigned to preside over the draft.

    Decree No. 59/2018 / ND-CP amending and supplementing a number of articles of Decree No. 08/2015 / ND-CP is a feasible study and expected to have many administrative procedure reforms as well as legal basis for Customs management activities, solving problems. What are the new points of this Decree?

    In fact, the Decree No. 08/2015 / ND-CP issued by the Government in 2015 contributed to accelerating the administrative reform process, creating a favorable environment for investment and import-export activities, improving the efficiency of customs operations and ensuring the State management of Customs. However, the process of implementation has had certain problems that need to be resolved to ensure the reform of administrative procedures, creating favorable conditions for the operation of enterprises in accordance with international practice.

    Therefore, this revised Decree adjusts the regulations related to the number of basic issues such as: Customs clearance of goods in transit; grouping issues on customs inspection and valuation; the issue of customs procedures for transport means on exit or entry; the issue of anti-smuggling work and some customs procedures related to other import and export goods, on the place of customs procedures for export and import goods sent through the transfer service speeding, postal ... to ensure the customs management, as well as facilitate the import and export activities and transparency in the implementation process.

    For example, regulations on Customs procedures for goods in transit, Decree 59/2018 / ND-CP has created a legal basis for clear distinction between the goods in transit and transhipped goods. In fact, Decree No. 08/2015 / ND-CP has not clearly defined goods in transit and transshipped goods, resulting in inconsistent implementation of the regulated objects in accordance with international practice. In particular, at the national conference on logistics, Prime Minister Nguyen Xuan Phuc said that logistics was an important service sector in the overall structure of the economy. It is necessary to take advantage of strategic geographic position and strengthen the connection to make Vietnam as an important logistics hub of the region.

    Therefore, this is the important content amended in this Decree. The Customs procedures for goods in transit and transhipped goods are clearly defined. Accordingly, the Customs supervision and management policies are also specified.

    Moreover, this Decree also provides regulations to further enhance the application of information technology and Customs modernization in the Customs supervision of goods in transit.

    In addition, the Decree amending and supplementing Decree 08/2015 / ND-CP also strengthens the legal basis for Customs statistics on the time of notification of the results of distribution of declarations to ensure Customs management, strengthening the fight against smuggling and illegal cross-border goods transportation.

    Under the new Decree, how has the Customs valuation been amended to overcome current problems?

    Decree No. 59/2018 / ND-CP amended and supplemented many regulations related to Customs valuation such as: Customs valuation method; the concept of export border; Customs inspections and valuation.

    Article 86 of the Customs Law and Decree No. 08/2015 / ND-CP does not stipulate Customs valuation methods for cases where Customs value can not be determined under purchase and sale contracts or commercial invoices.

    Therefore, the new Decree added 3 methods of Customs valuation of exported goods, using the value of identical or similar goods on the basis of Customs valuation data. The selling price of identical or similar goods in the Vietnamese market and the selling price of exported goods shall be collected, aggregated and classified by the Customs office. The amendment and supplementation mentioned above aims to ensure sufficient legal basis, facilitate the determination of Customs value of exported goods without causing additional administrative procedures.

    Along with the removal of difficulties in Customs procedures, creating favorable conditions for export and import activities, one of the issues stipulated in the Decree is to strengthen the legal basis for the Customs office to carry out professional measures. Could you share more about this issue?

    Article 101 of Decree No. 08/2015 / ND-CP regulates Customs control measures and there is no specific regulation on the contents to ensure real implementation such as: competence, content, order and manner of implementing professional measures. Therefore, the Decree added regulations: The Ministry of Finance shall instruct the implementation of professional measures of Customs control.

    The addition of the above provisions creates the legal basis for the Ministry of Finance to specify the competence and contents of the measures, order, procedures and methods for organizing the implementation of Customs control measures, to ensure the correct application of regulations and uniformity in the Customs forces.

    At the same time, adding specific provisions on the types of Customs vehicles to be equipped on the roads to perform the task of preventing smuggling and illegal cross-border goods; and cases for vehicles of the Customs office on emergency duty.

    To make Decree soon come into reality, what will the General Department of Vietnam Customs do to propagate and disseminate to the people and businesses?

    To effectively implement Decree No. 59/2018 / ND-CP amending and supplementing Decree 08/2015 / NĐ-CP, it is clear that attention should be paid by not only Customs offices at all levels, but also the whole business community. In addition to Decree No. 59/2018 / ND-CP amending and supplementing the Decree No. 08/2015 / TT-BTC, the General Department of Vietnam Customs also submits to the Ministry of Finance Circular No. 38/2015 / TT-BTC. In order to ensure that the regulations in these documents come to life in time, the General Department of Vietnam Customs will organize training and guidance meetings for business community and Customs offices in all 3 regions of the North and Central and South of Vietnam. In the implementation process, the General Department of Vietnam Customs will grasp and solve problems arising, so as not to affect the export and import activities of enterprises.
    Besides, units, especially local Customs units should continue propaganda and dissemination of decrees, especially contents and new regulations for the civil servants and staff to act, and for the business community, it is necessary to actively study and clarify new regulations to implement.

    Thank you Sir!

    By Ngoc Linh/ Hoang Anh

    posted in Vietnam read more
  • V

    Total import-export revenue in the first four months of 2018 is estimated at 144.13 billion USD, up 14.4 percent year on year, according to the General Department of Vietnam Customs.

    Of the figure, Vietnam’s export value is likely to reach 73.76 billion USD, a rise of 19 percent over the same period last year, while import value is calculated at 70.37 billion USD, an increase of 10.1 percent.
    The highest growth was seen in the export earnings of telephone and spare parts at 36.8 percent to hit 13.42 billion USD, followed by garment products at 15.7 percent, computers, aquaculture products at 13 percent and electronic products and parts 10.83 percent.
    Meanwhile, the value of imported computer, electronic products and parts rose 22.3 percent to 13.42 billion USD, while that of machineries, equipment and spare parts dropped 7.4 percent to 10.16 billion USD.
    Imports of telephone and spare parts increased 9.8 percent to 4.42 billion USD, and that of fabric of all kinds was up 10 percent year on year to 3.66 billion USD.
    In April alone, total trade revenue of the country is estimated at 35.7 billion USD, a drop of 10.8 percent compared to the previous month. Exports showed a reduction of 13.9 percent on a monthly basis to 18.2 billion USD, and imports in the month also fell 7.3 percent month on month to 17.5 billion USD.
    As a result, trade surplus in April is estimated at 700 million USD, raising the surplus for the January-April period to 3.39 billion USD.-VNA

    posted in Vietnam read more
  • V

    Vietnam spent 801 million U.S. dollars importing evidence-based medicines from January to April, seeing a year-on-year decline of 2.9 percent, according to the country's General Statistics Office on Thursday.

    Vietnam's medicine import turnovers were over 2.8 billion U.S. dollars last year, mainly coming from France, India, Germany, South Korea, the United States, Britain, Italy, Switzerland, Belgium and Thailand.

    According to global research firm BMI Research, Vietnams pharmaceutical market in 2017 grew some 10 percent against 2016 to 5.2 billion U.S. dollars, and it would continue to grow at a double-digit rate in the next five years.

    On average, one Vietnamese person's annual spending on pharmaceutical products rose to 37.97 U.S. dollars in 2015 from 22.25 U.S. dollars in 2010 and 9.85 U.S. dollars in 2005, said a local ratings company named Vietnam Report.

    The spending will surge to 85 U.S. dollars by 2020 and 163 U.S. dollars by 2025, the Vietnamese company predicted.

    posted in Vietnam read more
  • V

    Vietnam’s location with a network of cargo ports, alongside a large domestic market, leaves room for both domestic and foreign logistics firms to expand business and enter logistics merger and acquisition (M&A) deals.

    Vietnam has integrated deeper into the world economy and the country has become an emerging manufacturing hub and an appealing foreign direct investment destination, according to Country Director for the World Bank in Vietnam Ousmane Dione.
    E-commerce giants like Alibaba, Amazon and Tencent are gaining footholds in the Vietnamese market. Armstrong and Associates, a US supply chain market researcher, estimated that e-commerce will account for about 7.2 – 7.5 percent of total logistics turnover in Vietnam by 2020.
    Vietnam is also seen as a “gateway” for international firms to penetrate ASEAN, a market of 640 million people. Hence, logistics will be key to promoting exports and imports in Vietnam and ASEAN at large.
    According to the research team of the Vietnam M&A Forum, the country is developing a policy to call for private sector investment to develop logistics infrastructure, including airports and seaports. One option being studied allows a company to purchase the right to operate a logistics facility for a certain period of time to raise fund for the development of other projects. In addition, Vietnam is looking to develop a more competitive market for logistics services.
    “If the policy is adopted, it will provide opportunities for major investors at home and overseas. Due to the nature of the infrastructure and logistics sectors, deals worth hundreds of millions or even billions USD could be concluded, driving the local M&A market forward,” said Dang Xuan Minh, Director General of AVM Vietnam and head of the research team.
    Last year, Vietnam saw a boom in M&A deals in logistics that involved both domestic and international players.
    Gemadept Corporation, the country’s leading port and logistics firm, sold a 50.9 percent stake in Gemadept Shipping Holding Co Ltd and 50.9 percent of its shares in Gemadept Logistics Holding Co Ltd to CJ Logistics, a member of CJ Group from the Republic of Korea, for 125 million USD. After the sales, its holdings in these two companies shrank to 49.1 percent each.
    Another landmark project of Gemadept is the Gemalink deep-sea container terminal in the Cai Mep–Thi Vai port area in the southern province of Ba Ria-Vung Tau. The first phase of this terminal, covering 33 hectares, requires 345 million USD in capital, 25 percent of which is funded by French carrier CMA CGM S.A.
    In July, 2017, Samsung SDS, a subsidy of Samsung Group, set up a joint venture with Minh Phuong Logistics, Vietnam’s biggest freight forwarding and inland transportation service operator, which is expected to allow the Korean conglomerate to made inroads into Vietnam’s logistics industry.
    Global private equity firm Warburg Pincus established a joint venture with the local real estate and infrastructure Becamex IDC Corporation to develop a 200-million-USD industrial and logistics real estate platform.
    With a shift of manufacturing bases from markets like China to Vietnam in line with the rapid rise of domestic consumption, the logistics and industrial real estate market in Vietnam is in the “early innings” and “at an inflection point for outsized growth,” said Jeffrey Perlman, Managing Director and Head of Southeast Asia of Warburg Pincus.
    In 2016, Vietnam ranked 64th out of 160 countries in the World Bank’s Logistics Performance Index and fourth in ASEAN after Singapore, Thailand and Malaysia.
    Vietnamese firms mainly provide domestic logistics services such as transport service, airport, seaport and warehouse services and cargo loading and unloading services.
    Few firms provide international logistics services through acting as agents for foreign enterprises.-VNA

    posted in Vietnam read more