Tag: Vietnam

German express delivery company DHL has formed a Vietnamese joint venture with the state-owned Vietnam Post and Telecommunications Group (VNPT), the companies said.

DHL, which has been a partner of VNPT for 18 years, holds 51 pct of the DHL-VNPT Express Ltd joint venture, worth 5.5 mln usd.

The company is run by German mail service Deutsche Post.

‘This joint venture strongly demonstrates DHL’s commitment to the Vietnamese market and our faith in Vietnam’s economy and its growth prospects,’ said Stephen Fenwick, DHL’s senior vice president for South Asia and Indochina.

An express joint venture between DHL, an international air express company, and the Viet Nam Post and Telecom Group (VNPT), has been set up to become the first joint venture in this field in Viet Nam.

A licence for the joint venture was made public on Nov. 8.

The new joint venture will replace the agent contracts the two sides signed over the past 18 years.

According to Stephen Fenwick, Senior Vice President for South Asia and Indochina of DHL Group, the development of the joint venture will not affect current customers or interrupt DHL services in Viet Nam.