Construction of 3.8 trillion VND logistics centre kicks off in Vinh Phuc
The construction of the Vinh Phuc ICD Logistics Center, the first super-port project of the ASEAN Smart Logistics Network (ASLN) which cost 3.8 trillion VND (165.56 million USD), began on December 23 in the northern province of Vinh Phuc.
Vinh Phuc (VNA) – The construction of the VinhPhuc ICD Logistics Center, the first super-port project of the ASEAN SmartLogistics Network (ASLN) which cost 3.8 trillion VND (165.56 million USD), beganon December 23 in the northern province of Vinh Phuc.
The ground-breaking ceremony of the project saw the attendanceof National Assembly Chairman Vuong Dinh Hue.
Spanning 83ha in Huong Canh township and Son Loi commune inBinh Xuyen district, the centre has a designed customs clearance capacity of some530,000 TEUs per year. The investor of the project is the T&Y Superport Vinh Phuc joint stock company, aconsortium of the T&T Group and its Singaporean partners – the YCH Groupand YCH Holdings Company.
As part of a detailed plan for the development ofVietnam's inland port and logistics centre system to 2020, with a vision to2030, the centre integrates the functions of a distribution centre (DC) and an inlandcontainer depot (ICD). Its first phase is planned to be put into operation in thethird quarter of 2022 and Phase 2 in the fourth quarter of 2024.
This will be one of the largest logistics hubs in northern Vietnam,linking industrial zones by road and rail as well as connecting to Hanoi, the HaiPhong International Airport, and China’s Yunnan province, emphasised arepresentative of T&T Group.
The centre is expected to pave the way for a breakthrough inVietnam's logistics, towards the goal of cutting logistics cost to about16 – 20 percent of the GDP and raising the ratio of the sector's contribution to the GDP to 5 – 6 percent by 2025.
According to the World Bank’s 2020 data, logistics cost inVietnam was about 20.9-25 percent of GDP. Meanwhile, the figures for Thailand, Malaysia,and Singapore were 19 percent, 13 percent, and 8 percent, respectively.
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At the event (Photo: VNA) 
