Manufacturing News 20/01/2025, 13:35

Viettel Post establishes subsidiary in China

Viettel Post Joint Stock Corporation (stock code VTP-HOSE) has announced a resolution by its Board of Directors to establish a subsidiary in China.

Viettel Post establishes subsidiary in China

The new company, Viettel Post Logistics and Trade Co., Ltd. (Guangxi), will be based in Guangxi Province, China, to provide services including international delivery, transportation, warehousing, customs clearance, and e-commerce.

The corporation plans to contribute 1.37 million USD (approximately 34 billion VND) in cash to this venture, without relying on loans. Previously, Viettel Post had two overseas subsidiaries: Mygo Cambodia Co., Ltd. and VTP Myanmar Co., Ltd.

During the 2024 Annual General Meeting of Shareholders, Viettel Post revealed its strategy to leverage its existing business operations while investing in logistics to integrate more deeply into supply chain production and distribution. This approach aims to enhance the nationwide logistics network, thereby reducing overall logistics costs.

The company is exploring three approaches: B2B logistics for domestic manufacturers, B2C delivery for cross-border e-commerce, and smart cross-border B2B logistics services.

In December 2024, Viettel Post launched its first smart cross-border B2B logistics investment at Huu Nghi Border Gate in Lang Son Province. The project, known as Viettel Lang Son Logistics Park, operates on a 144-hectare infrastructure leased from Lang Son Transshipment Joint Stock Company, which has invested 3.3 trillion VND in infrastructure development. Viettel Post serves as the project operator.

VNECONOMY/ TRANSLATOR: NGỌC ÁNH
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