Vietnamese Prime Minister Nguyễn Xuân Phúc (centre), and other delegates press the button to lauch First centre of ASEAN Smart Logistics Network from Hà Nội.— VNA/VNS Photo Thống Nhất

HÀ NỘI —  Vietnamese Prime Minister Nguyễn Xuân Phúc and Singaporean Prime Minister Lee Hsien Loong launched the ASEAN Smart Logistics Network on Saturday.

The Vĩnh Phúc inland container depot and logistics centre was granted an investment licence the same day.

The project, located in the northern province of Vĩnh Phúc, has been developed by Việt Nam’s T&T Group and Singapore’s YCH Group. It is expected to be one of the largest logistic centres in the north of Việt Nam with funding of more than $163 million.

“This is a meaningful project, and it’s a manifestation of a cohesive and responsive ASEAN,” said Prime Minister Phúc.

Speaking at the launch ceremony, Singaporean PM Lee said the superport was the largest logistics project launched by a Singaporean company in Việt Nam.

It would provide crucial infrastructure support for Việt Nam's growing exports, while contributing to Industry 4.0 and the country's human resource development goals.

“The superport will be one of our flagship B2B projects under the ASEAN smart logistics network initiative. It will strengthen logistics and supply chain connectivity in the region, and explore technology to the fullest,” he said.

It will complement ASEAN economic integration efforts and fit in with existing initiatives like the master plan on ASEAN connectivity 2025, the ASEAN Smart Cities network, and the initiative for ASEAN integration.

Lee said Singapore and Việt Nam enjoyed strong and thriving business links.

"Singapore was the top ASEAN investor in Việt Nam last year, with bilateral trade increasing almost 10 per cent year-on-year," he said.

Robert Yap, chairman of YCH Group Singapore, said the project was a multi-model transportation effort connecting railways, roads and air travel. It also linked road and air connections between China’s Yunan City with Hà Nội and Hải Phòng International Port in Việt Nam.

The Vĩnh Phúc ICD Logistics Centre will provide logistical services at an international level, bringing down costs over the next five to 15 years while connecting ASEAN markets with the rest of the world.

Lê Duy Thành, chairman of Vĩnh Phúc Province’s People’s Committee, said: “Once the project is put into operation, it will help enterprises improve competitiveness, shorten transportation times and reduce costs, opening opportunities for not only Vĩnh Phúc but also ASEAN countries.”

“The centre is located on 87ha in Bình Xuyên District. It is the connecting point of 20 industrial parks in the province and neighbouring localities,” he told Việt Nam News. — VNS