The Hai Phong Port Joint Stock Company and the Heung-A Shipping Co., Ltd of the Republic of Korea (RoK) put into operation their joint logistics services in the northern city of Hai Phong on October 14.

Heung-A is among the first shipping companies to open marine transport routes between Vietnam and the RoK. It is also one of the first to enter into a partnership with Hai Phong to provide logistics services.

The logistics facility is based at Dinh Vu economic zone- a vibrant economic area with convenient transport connectivity. It has an area of 10 hectares, with an estimated annual capacity of handling 108,000 TEU of empty containers and 7,200 TEU of freight containers. Available services include storage, loading and unloading containers and goods along with other value-added services.

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The Hai Phong Port-Heung A joint venture is expected to ease the overload at Hai Phong ports.

Chairman of the Board of Management at Port of Hai Phong JSC Phung Xuan Ha said the establishment of the joint venture marks new cooperation between the two sides, noting that an estimated 80 million tons of cargo will be handled at ports in Hai Phong City in 2016, over 40 percent of which will go through Hai Phong Port.

According to Ha, the facility could become one of the five biggest depots in northern Vietnam before 2020.

Chairman of the Heung-A Shipping Co., Ltd Youn Jae Lee expressed his confidence that the bilateral cooperation will help his company make the first step in Vietnam’s logistics market, one of the rapidly growing markets in Asia.

According to Vice Chairman of Hai Phong People’s Committee Nguyen Xuan Binh, Hai Phong led the country in foreign direct investment (FDI) in the first nine months this year with newly-registered and adjusted capital totaling 2.74 billion USD.

Source: VNA