CONSTRUCTION of the Vinh Phuc Inland Container Depot (ICD) Logistics Centre, the first super port project of the ASEAN Smart Logistics Network (ASLN), began on December 23 in Vinh Phuc Province, northern Vietnam. The centre is designed with a customs clearance capacity of approximately 530,000 TEU.
The project covers 83 hectares of Fong Kang Township and Song Lei Commune in Binshuen district, according to Vietnam media reports.
Investors in this project are T & Y Superport Vinh Phuc Joint Stock Company, a consortium of T & T Group and its Singapore partners YCH Group and YCH Holdings Company, according to the reports.
The first phase of the centre will be operational in the third quarter of 2022 and Phase 2 will be operational in the fourth quarter of 2024.
It is one of the largest logistics hubs in northern Vietnam, connecting industrial areas by road and rail, linking Hanoi, Haiphong International Airport and Yunnan Province of China.
The centre paves the way for a breakthrough in Vietnam's logistics with the goal of reducing logistics costs to about 16-20 per cent of gross domestic product (GDP) and increasing the sector's contribution to GDP to five.
According to World Bank 2020 data, Vietnam's logistics costs were about 20.9 to 25 per cent of GDP. On the other hand, the figures for Thailand, Malaysia and Singapore were 19 per cent, 13 per cent and 8 per cent, respectively.
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The project covers 83 hectares of Fong Kang Township and Song Lei Commune in Binshuen district, according to Vietnam media reports.
Investors in this project are T & Y Superport Vinh Phuc Joint Stock Company, a consortium of T & T Group and its Singapore partners YCH Group and YCH Holdings Company, according to the reports.
The first phase of the centre will be operational in the third quarter of 2022 and Phase 2 will be operational in the fourth quarter of 2024.
It is one of the largest logistics hubs in northern Vietnam, connecting industrial areas by road and rail, linking Hanoi, Haiphong International Airport and Yunnan Province of China.
The centre paves the way for a breakthrough in Vietnam's logistics with the goal of reducing logistics costs to about 16-20 per cent of gross domestic product (GDP) and increasing the sector's contribution to GDP to five.
According to World Bank 2020 data, Vietnam's logistics costs were about 20.9 to 25 per cent of GDP. On the other hand, the figures for Thailand, Malaysia and Singapore were 19 per cent, 13 per cent and 8 per cent, respectively.
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