GLP, Asia's biggest warehouse operator, is planning to cooperate with Vietnam’s SEA Logistic Partners, or SLP, in a 1.5 billion USD new venture, reported Nikkei Asia Review.
GLP, Asia's biggest warehouse operator, is coming to Vietnam. (Photo GLP)
Hanoi (VNA) - GLP, Asia's biggest warehouse operator, is planning to cooperatewith Vietnam’s SEA Logistic Partners, or SLP, in a 1.5 billion USD new venture,reported Nikkei Asia Review.
GLP is registered in Singapore, managing 64 million square metres of logisticsreal estate spanning 16 countries.
It is planning to develop a total of 335,000 square metres of land around Hanoiand HCM City. These will be GLP's first warehouses in Southeast Asia.
Vietnam has become attractive due to its ability to tame the spread of COVID-19and keep its economy mostly open this year, according to Nikkei Asia Review.
"Many of our [corporate] members shared with us that, uniquely in Vietnam,they were able to maintain their operations," said Mary Tarnowka,executive director of the American Chamber of Commerce in HCM City, speaking ata business forum earlier this month.
Vietnam has a population of 100 million and also an emerging online market.
The Vietnam E-commerce Association forecast the country’s online market to growmore than 30 percent this year, surpassing 15 billion USD, in part because ofthe pandemic. SLP and GLP expect the growth to create more warehousing demand.
"Within Southeast Asia, Vietnam is one of the most attractive markets,given its population dynamics, growing economy, and middle class, which supportdomestic consumption," GLP co-founder and CEO Ming Mei said. "WhenGLP enters a new market, growth and scalability are two key factors weconsider."/.
The development of e-commerce together with delays to import and export activities due to disrupted logistics services has accelerated demand for ready-built factories and warehouses during the COVID-19 outbreak in Vietnam.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
GLP, Asia's biggest warehouse operator, is coming to Vietnam. (Photo GLP) 
