Asean summit

New Asean network to build logistics infrastructure

Vietnam's Prime Minister Nguyen Xuan Phuc (centre) and other leaders attend the launching ceremony of the Asean Smart Logistics Network in Hanoi on Nov 14, 2020.
Vietnam's Prime Minister Nguyen Xuan Phuc (centre) and other leaders attend the launching ceremony of the Asean Smart Logistics Network in Hanoi on Nov 14, 2020.PHOTO: REUTERS

A new collaborative platform aims to integrate regional logistics development by strengthening supply chains and promoting competitiveness.

The Asean Smart Logistics Network launched yesterday is especially relevant now, given the challenges stemming from the Covid-19 pandemic, said the YCH Group, a Singapore logistics firm.

The firm will join forces with Vietnam's T&T Group, a multi-industry investment company, on the network's first project - the Vinh Phuc Inland Container Depot Logistics Centre.

YCH Group said the "SuperPort" will be a multi-modal logistics hub integrating dry port and advanced supply chain nerve centre operations. Its road, rail, air and sea links and prime location near Hanoi will make it a key connection point for trade and supply chains between China, Vietnam, Asean and other international markets.

Saturday's launch, which took place on the sidelines of the 37th Asean Summit in Hanoi, was attended by Vietnam's Prime Minister Nguyen Xuan Phuc and Deputy PM Pham Binh Minh, while Singapore PM Lee Hsien Loong and Trade and Industry Minister Chan Chun Sing were virtual guests.

PM Lee said the SuperPort project - the largest logistics development by a Singapore firm in Vietnam - will provide crucial infrastructure support for Vietnam's growing exports and contribute to its human resource development goals.

He also noted the strong ties that Singapore and Vietnam share in the area of investment and joint industrial parks. "(This) has been made possible because of the mutual trust and comfort our peoples and businesses have in each other," he said, adding that he was "encouraged that amidst the Covid-19 crisis, regional integration and cooperation have continued uninterrupted".

A version of this article appeared in the print edition of The Sunday Times on November 15, 2020, with the headline 'New Asean network to build logistics infrastructure'. Print Edition | Subscribe