YCH Group and T&T Group Officiate the Ground-breaking Ceremony for the First of Its Kind, Multimodal Logistics Hub, Vietnam SuperPort™
Hanoi, 24 December 2021 – YCH Group, Asia Pacific’s leading integrated end-to-end supply chain management and logistics partner, and Vietnamese conglomerate T&T Group, held a ground- breaking ceremony for Vietnam SuperPort™ – Vinh Phuc ICD Logistics Centre on 23 December 2021. The hybrid event was graced by Dr Tan See Leng, Minister for Manpower and Second Minister of Trade and Industry, Singapore, and Deputy Secretary-General (DSG) for ASEAN Economic Community (AEC), H.E. Satvinder Singh, both attended virtually, together with Mr Vuong Dinh Hue, President of National Assembly of Vietnam, Ms Hoang Thi Thuy Lan, Secretary of Vinh Phuc Provincial Party, Singapore Ambassador to Vietnam, Mr Jaya Ratnam, and other Vietnamese government officials, dignitaries, and business leaders of domestic and foreign trade associations attending on-site in Hanoi, Vietnam.
Officially launched back in 14 November 2020, the Vietnam SuperPort is the largest logistics infrastructure project spearheaded by a Singaporean company in Vietnam, with a plan area of more than 83 hectares and an investment of around USD 200 million, with a designed cargo capacity of about 850,000 Twenty-foot Equivalent Units (TEU). The facility is scheduled to go live in 2024, with phase 1 set to be completed in stages between 2022 and 2023, while phase 2 to be completed in stages between 2024 and 2025.
With its emergence as a global manufacturing hub and its growing e-commerce sector, logistics has been among the fastest-expanding sectors in Vietnam. Besides acting as crucial infrastructure support for Vietnam’s burgeoning exports, the SuperPort will contribute to Industry 4.0 and the human resource development goals in the country. The Vietnam SuperPort will be the first of its kind, a multimodal logistics hub with an integrated dry port and advanced supply chain nerve centre based on four pillars: connectivity, sustainability, scalability, and agility.
This SuperPort will serve as a supply hub for the aforementioned manufacturing operations in Vinh Phuc Province, which has been projected to increase exponentially as manufacturing shifts to Vietnam. With its strategic foothold near the capital city of Hanoi, the SuperPort will be a key connecting node for global and regional trade and supply chains between China, Vietnam, ASEAN, and other regional and international markets. The Vietnam SuperPort and its environs of 20 industrial parks will demonstrate the advantages of multi-modal transportation through its road, rail, air and sea linkages, with road and rail linking China’s Yunnan province, Kunming city, to Hanoi city and eventually ends at Hai Phong international port.
H.E. Satvinder Singh, Deputy Secretary-General (DSG) for ASEAN Economic Community (AEC), congratulated YCH Group and T&T Group for their major milestone during the ceremony. He commented, “being an ASEAN-BAC legacy project during Singapore Chairmanship in 2018, the Vietnam SuperPort exemplifies the tangible fruition of collaboration between ASEAN member countries with varying levels of technological and human capital development but share their similarities in terms of productivity and efficiency. Integrated between a dry port, logistics centre, and smart growth centre, I believe the SuperPort will form a highly efficient facility that seamlessly connects the regional supply chains with boundless resources to create thriving, sustainable, and strong economies.”
“Singapore and Vietnam have shared excellent bilateral relations, and this is supported by robust economic ties. Vietnam is an attractive investment destination for Singapore companies. Singapore was Vietnam’s largest foreign investor in 2020 and the first ten months of 2021. These economic ties have been made possible not only because of the close partnership between our governments but also because of the strong connections between our people and our businesses. Today’s event marks another milestone in our economic partnership borne out of a partnership between our two companies, the YCH Group and the T&T Group. Upon completion, the SuperPort will provide crucial infrastructure to support Vietnam’s exports and contributes to Vietnam’s Industry 4.0 and human resource development goals. I visited YCH’s Supply Chain City (SCC) in Singapore last Friday, and I witnessed first-hand how YCH leverages technology and innovation to achieve an efficient and sustainable solution. Likewise, I am confident that SuperPort will strengthen logistics and supply chain connectivity in the region through technology and innovative solutions. Also, the Superport will create jobs and opportunities for both Singapore and Vietnam companies, including our small and medium-sized enterprises,” opined Dr Tan See Leng, Minister for Manpower, and Second Minister for Trade and Industry, Singapore.
“This ground-breaking ceremony marks more than just the beginning of new infrastructure; it represents a significant step forward for both YCH and T&T in pushing the frontier of supply chain excellence. We started this journey back in November 2020 when the ASEAN Smart Logistics Network (ASLN) was launched to support the ASEAN Connectivity Master Plan 2025, and now we are here to kickstart this momentous occasion. This SuperPort project uses cutting-edge technologies which will help futureproof the logistics industry and enables the delivery of a more integrated, faster and safer supply chain in the region. We hope to drive more initiatives like the SuperPort project to foster sustainable and inclusive growth for the region’s enterprises and communities,” said Dr Robert Yap, Executive Chairman of YCH Group.
The ASEAN Smart Logistics Network (ASLN) is a collaborative platform that aims to promote logistics connectivity and integration within the ASEAN bloc. The Vietnam SuperPort™ – Vinh Phuc ICD Logistics Centre is thus the cornerstone to achieve and establish an ASEAN network that is seamless, comprehensive, competitive and inclusive, enabling the region to grow into one formidable economic bloc. The SuperPort project will adopt technological advancements, such as Artificial Intelligence and automation, that will help future-proof the logistics industry and enable the delivery of a more integrated, faster and safer supply chain. Fuelled by emerging global trends like omnichannel retail and digitalisation, the logistics industry is expected to continue its growth trajectory.
“In recent years, the Vietnam government has put forward many incentives and policies to attract more investments, both local and foreign, especially in the development of the logistics sector to achieve the objective of high socio-economic growth. As we know, Singapore is one of the most prosperous countries in ASEAN and one of the leading countries in terms of logistics technology in the region. Our collaboration with YCH not only will improve the connectivity between ASEAN, China, and other international markets, but it will also equip our local human resources with the necessary high-tech and smart logistics skills in preparation for the Industry 4.0 era,” said Mr Do Quang Hien, Chairman of T&T Group.
“On this very important occasion, I would like to reassure you that the commitment of Vinh Phuc province will stand side by side with T&T and YCH to ensure the progress and the successful outcome of the project. The Provincial People’s Committee will work together with both companies in working towards the overall success of the socio-economic development goals, bringing Vinh Phuc to a prosperous province.,” said Mr. Le Duy Thanh, Chairman of the Vinh Phuc People’s Committee.
There are already plans to increase and enhance YCH’s existing investment in Vietnam, for additional warehousing capacity and on another major logistics infrastructure project. Since our entry in 2009, YCH has built extensive networks, asset footprints and partnerships within Vietnam and is wellpositioned to meet the current and future supply chain requirements of the market. Coupled with our deep-rooted understanding of Asia Pacific and in-depth presence, this enables us to empower our customers to achieve a comprehensive footprint and a seamless global connectivity not only within Vietnam, but throughout the ASEAN region and beyond.
Source: ych.com
