Vietnam SuperPort joins Chinese partner to develop rail logistics infrastructure
Vietnam SuperPort joins Chinese partner to develop rail logistics infrastructure
Vietnam SuperPort, a large multi-modal logistics hub in Vietnam, has signed a Memorandum of Understanding (MoU) with China Railway 16th Bureau Group Vietnam Company Limited (CR16GVN Co., Ltd) to build a rail cargo terminal and a railway line linking the two countries.
The signing ceremony for a Memorandum of Understanding (MoU) between Vietnam SuperPort and China Railway 16th Bureau Group Vietnam Company Limited in Hanoi, January 7, 2024. Photo: H. Hanh / Tuoi Tre |
The MoU, signed in Hanoi on Tuesday, focuses on cooperation in building a rail freight terminal at Vietnam SuperPort in northern Vinh Phuc Province, and a railway route connecting China with Vietnam's national railway network.
Its aim is to offer logistic services and cross-border freight transport between Vietnam and China as well as other countries in the region.
Under the MoU, Vietnam SuperPort, a joint venture between Singapore’s YCH Group and Vietnam’s T&T Group, will provide integrated logistics solutions, including multimodal transportation, cargo handling, and warehouse management, for the future rail cargo terminal to promote the efficiency and competitiveness of rail services.
This partnership will support Vietnam SuperPort’s multimodal operations, and contribute to accelerating connectivity between Vietnam, China, and the ASEAN region.
According to the MoU, Vietnam SuperPort is positioned as a key transit hub along the Lao Cai-Hanoi-Hai Phong-Quang Ninh railway route, which will be linked to China by a future railway line.
This initiative will make transporting goods within Vietnam and across borders more efficient and cost-effective.
“Developing the logistics industry together with expanding transportation infrastructure, especially new rail systems, will improve Vietnam’s logistics capability and accelerate its integration into the global supply chain,” the Vietnam News Agency cited Dr. Yap Kwong Weng, CEO of Vietnam SuperPort.
Nguyen Xuan Cuong, director of the Department of Transport under the Ministry of Transport, said that Vietnam and China have recently signed many important cooperative agreements to promote infrastructure connectivity, improve transport capacity, and facilitate cross-border trade.
This latest MoU will help partially realize these agreements and bring many added values in freight transport through the efficient operation of Vietnam SuperPort as an advanced multimodal logistics port, Cuong commented.
Vietnam SuperPort, which aims to be the first of its kind in Southeast Asia to achieve net-zero emissions, is a major logistics infrastructure developer with a strategic vision, driving supply chain connectivity in the region toward sustainable development, commented Nguyen Thi Phuong Hien, deputy director of the transport ministry’s Transport Development and Strategy Institute (TDSI).
Hien underscored that the port’s sustainable development goal and commitment to zero-net emissions by 2040 are completely consistent with the ministry’s roadmap for developing a green and sustainable transport system.
“This strategic partnership is of great significance, not only promoting the effective development of transport infrastructure but also supporting the growth target of the logistics industry, enhancing trade relations between Vietnam and regional countries,” she affirmed.
In addition to partnering with CR16GVN Co., Ltd., a part of China Railway Construction Corporation, Vietnam SuperPort also signed an MoU with the TDSI on the same occasion.
This MoU focuses on the implementation of the national railway network development strategy and optimizing the efficient transportation of goods to and from Vietnam SuperPort.
The two parties will also cooperate in researching the development of new railway lines and terminals connecting to Vietnam SuperPort to enhance its logistics capacity.
Both MoUs mark Vietnam's efforts to advance its logistics industry, strengthen trade relations with other regional countries, and create growth opportunities for the Southeast Asian nation's transportation, logistics, and trade sectors, while also promoting international cooperation and contributing to sustainable economic development, the Vietnam News Agency reported.
The deals are meant to make the best use of the relevant partners’ expertise and help turn Vietnam into a crucial hub in regional and global supply chains – potentially pushing up the nation's economic growth and international competitiveness.
