Following the success of Core5 Industrial Partners in the United States, Core5 brand is expanding into Vietnam, one of Asia’s fastest growing manufacturing and logistics hub.
As Vietnam battles another wave of Covid-19, accelerating the pace of reforms, upgrading workforce skills and infrastructure will strengthen the private sector to help the country recover from the pandemic and unlock its potential, according to a new World Bank Group report.
The venture aims to establish an initial forecast portfolio of approximately $350 million and focuses on Ho Chi Minh City, Hanoi and Danang.
The funding will help ITL transform and grow by acquiring new assets, developing new warehouses and facilities, and deploying advanced information technology systems.
The real estate consultancy anticipates elevated investment activity, sustainability and technology to be the next focus.
The amount will be spent over the next five years to help the multi-service super app tap opportunities in fintech, mobility solutions and logistics in Vietnam.
London-listed Symphony International Holdings Limited (Symphony) has acquired a significant minority stake in Vietnam-based Indo Trans Logistics Corporation (ITL).
With improving market fundamentals, Vietnam stands a good chance of winning logistics market share as its regional peers shift towards more mature industrial development, according to Jones Lang Lasalle.
In 2018, it is the first time that the Government attaches such great importance to logistics, which is both an opportunity but also a tough challenge, according to Le Duy Hiep, Chairman of Vietnam Logistics Association (VLA).
Vietnam's air cargo transportation brings about 25 per cent of the total export value though it currently accounts for less than one per cent of total export volume.
