- Vingroup and AD Ports Group Partner to Modernize Vietnam’s Logistics Infrastructure.
- New MoU Aims to Establish Vietnam as a Key Regional Trade Hub.
- Vietnam’s Ports to Get Boost from Vingroup, AD Ports.
On October 29, 2024, Vingroup JSC, one of Vietnam’s leading private enterprises, signed a Memorandum of Understanding (MoU) with AD Ports Group, a global trade, transport, and logistics group based in Abu Dhabi. This MoU aims to explore the joint development and modernization of Vietnam’s ports, logistics, and maritime infrastructure, reports AD Ports Group.
Building Integrated Logistics Ecosystems
These can be integrated logistics systems cooperation, operations improvement in seaports, and the enhancement of shipyard capabilities. This will make the logistics and manufacturing sectors in Vietnam vital in regional and global supply chains.
Scope and Responsibilities of the Project
The MoU will see Vingroup undertake the evaluation of a few projects. It can be developed with full responsibility for construction management, provision of infrastructure, and local partner engagement. On its part, AD Ports Group will take responsibility for the operational management of the entity connecting international customers to Vietnam and promoting its role in the global supply chain.
Role of Vietnam in Global Trade
Both companies are committed to finding financing for projects that will bring modernity to Vietnam’s logistics and manufacturing sectors. This venture is expected to improve trade efficiency and operational connectivity. It creates thousands of jobs, bringing great benefits to Vietnam’s economy.
Insights from Vingroup and AD Ports Group Leaders
Ms Le Thi Thu Thuy, Vice Chairwoman of Vingroup, said: “We are excited to be exploring ways to work alongside AD Ports Group to bring transformative logistics capabilities to Vietnam. This collaboration aligns with Vingroup’s commitment to national development and represents a significant step toward establishing Vietnam as a strong player in global logistics. Vingroup’s projects consistently meet or exceed timelines and quality standards, setting new benchmarks for the market.”
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “Vietnam is one of the fastest-growing economies in Asia, with GDP forecast to continue rising in the next few years. We are excited about the possibility of working with Vingroup to help modernise the nation’s ports, maritime and logistics infrastructure, while boosting Vietnam’s role as an international trade hub. Under the vision of our wise leadership, AD Ports Group looks forward to extending its activities into Southeast Asia and helping Vietnam improve its interconnectivity with the global trade ecosystem.”
Vietnam’s Growing Presence in Global Trade
Strong infrastructure development and a dynamic logistics industry have made Vietnam a key trading and manufacturing centre in Southeast Asia. The MoU between Vingroup and AD Ports Group is to support Vietnam’s vision of further integration into the global supply chain. It further strengthens the nation’s logistics and manufacturing capabilities.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: AD Ports Group
