CEVA Logistics, Indo Trans set up joint venture in Vietnam
CEVA Logistics, one of the world's leading supply-chain management companies, has announced a new joint venture in Vietnam with long-time partner Indo Trans Logistics (ITL) Group.
The JV, CEVA Logistics (Vietnam) Co, will give CEVA a stronger presence in that country. Its head office will be in Ho Chi Minh City.
CEVA’s presence in Vietnam dates back more than 12 years, beginning as a representative office with limited function, offering freight-management services. With this new entity, the company believes it will be able to grow its geographic and customer base, offer end-to-end integrated |supply-chain services and strengthen its capabilities to serve customers, both existing and new, more effectively. CEVA’s investment in Vietnam extends the company’s footprint in Southeast Asia and reinforces its presence in more than 170 countries.
ITL Group is a market leader in transportation logistics and freight forwarding in Indochina.
The company was set up in 1999 and has since grown to be one of the top 500 private companies in Vietnam, a status it has held for the past five years.
CEVA says its global network and supply-chain expertise coupled with ITL’s local infrastructure capabilities represent a winning combination for customers.
Nelson Chow, CEVA’s managing director for Vietnam, said the set-up of a fully operational entity in that country realises the company’s long-term vision to establish a strong presence and service offerings in Indochina.
Ben Anh, managing director of ITL Vietnam, added: “The joint venture is a great milestone for both ITL and CEVA in the Vietnam market, cementing our long-term partnership to provide our customers with better and more comprehensive solutions in freight management and contract logistics.
“With ITL’s local strength and CEVA’s leading global capabilities, we can now truly serve our customers’ needs end to end.”
CEVA’s executive vice president for Southeast Asia, Loo Seng Tak, commented: “Vietnam is a fast-developing market in Asia and |is strategically located to be an ideal hub for Southeast Asia and China.
“There is significant potential for growth in the logistics and |supply-chain industry in this country,” he noted.
