Vietnamese and Singaporean firms partner to improve supply chain connectivity
Singapore's supply chain and logistics provider YCH has signed inaugural MoUs with Vietnam Airlines (VNA) and Vietnam Railways Corporation (VNR) to establish multimodal connectivity for the Vietnam SuperPort.
T&Y SuperPort Vinh Phuc SC (T&Y) – a joint venture between YCH Group and Vietnamese conglomerate T&T Group – inked two MoUs with VNA and VNR on August 12 to embark on the first multimodal connectivity partnerships for the first-of-its-kind smart logistics infrastructure project in Asia – Vietnam SuperPort – that is slated for completion by 2025.
Vietnam SuperPort is the first multimodal infrastructure project invested in by a Singaporean firm in Vietnam. The project is expected to strengthen logistics and supply chain connectivity in the ASEAN region with the adoption of technologies and innovative solutions and driven by the strong economic ties made possible by the close partnership between Vietnam and Singapore and the strong business connections between the two nations.
Executive chairman of YCH Group Robert Yap said, “The MoUs with VNA and VNR are an important milestone for Vietnam SuperPort. For a smart logistics infrastructure project of this stature, developing strong partnerships is paramount. As state-owned transport operations, VNA and VNR’s agreement to partner speaks volumes about their support and the alignment of mutual aspirations."
"YCH Group will continue to support T&Y by drawing on our experience and expertise in supply chain and logistics to develop sustainable multimodal smart logistics infrastructure across ASEAN, starting with Vietnam. Together, we remain committed and look forward to working closely with existing and new partners in bringing our common vision to reality. We are already a step closer,” Yap added.
The first MoU was signed with VNA, the state-owned national airline of Vietnam, with the intent to explore potential collaboration and partnerships to boost air transport and logistical support for Vietnam SuperPort. VNA is the first airline secured by T&Y to operate in Vietnam SuperPort.
The tie-up aims to bolster Noi Bai International Airport’s capabilities to meet the projected increase of air cargo and act as an export hub to cater for the increasing demands of the nation's manufacturing and assembly operations. Other partnership areas include supporting VNA in air cargo management while tapping into YCH Group’s global customer network. The two sides will leverage both parties’ network of customers to promote Vietnam SuperPort's facilities and enhance multimodal cargo transportation in Vietnam.
Separately, T&Y signed a collaborative MoU with VNR to explore various areas with the enhancement of rail connectivity for Vietnam SuperPort as the focal objective. The partnership aims to enhance rail connectivity with existing and new rail networks by developing new stations and terminals to serve the SuperPort.
The two sides also seek potential investors to co-explore the extension of rail connectivity beyond Vietnam to Kunming – the capital of Yunnan Province in China – under a public-private partnership arrangement.
Another goal is to develop new multimodal business opportunities that will proliferate the advantages of rail freight transportation to support and enhance the smart-city supply chain and alleviate logistics challenges.