Nippon Express said its subsidiary Nippon Express (Vietnam) Co. Ltd. will open a bonded warehouse within the Minh Quang Industrial Zone on the outskirts of Hanoi.
Construction is scheduled to be completed in December 2008.
“Like China and Thailand, Vietnam is attracting increasing interest as an overseas base for global manufacturing and distribution companies because of the availability of a high-quality labor force and improvements to the investment environment following Vietnam’s accession to the WTO,” the company said.
“Some 250 Japanese companies, among them electrical and precision equipment manufacturers, have already set up operations in Vietnam’s second-largest city Hanoi and environs, and the growing number of foreign companies in the area has generated a rapid rise in the demand for warehouse space,” it added.
Nippon Express established the Vietnam subsidiary in July 2000 and is engaged primarily in air cargo forwarding, ocean cargo forwarding and overseas removals.
The company said construction of the large-scale warehouse would enable the company to enhance its logistics functions and otherwise meet the wide-ranging supply chain execution needs of customers.
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