DHL, VNPT replace agency agreement with joint venture
DHL, a leading express and logistics company, and Vietnam Post and Telecommunications Group today announced its new joint venture, reinforcing the companies’ belief and commitment to the rapidly developing Vietnamese market.
“This development with VNPT marks an exciting step in DHL’s ongoing growth in Vietnam,” said Stephen Fenwick, senior vice president of South Asia and Indochina DHL Express.
It was also a developmental watershed in the Vietnamese Express Industry, with the partnership between the world’s leading express provider and one of Vietnam’s largest State-owned enterprises, he added.
The DHL-VNPT Express Ltd joint venture application was licensed by the Ministry of Planning and Investment on September 27, and replaces the 18-year-old Agency Agreement that the two parties had operated under in the past.
DHL is the first international express company to announce a joint venture with VNPT in Vietnam. The new license will have no impact on existing customers, who will continue to enjoy uninterrupted DHL Express services during the period of transition.
The license showed Vietnam’s commitment to opening its economy and complying with international rules, said Nguyen Bich Dat, vice minister of Planning and Investment.
He hopes that the joint venture will be an important bridge between Vietnamese enterprises and foreign counterparts, contributing to better trade relationship between Vietnam and the world-wide community. – VNS
