DHL to Invest in Vietnam Joint Venture over Five Years

DHL has announced that it will invest US$10 million over the next five years in its joint venture in Vietnam. The company signed this agreement with its local Vietnam partners including Oriental Logistics to form DHL Global Forwarding (Vietnam) Corporation.

The investments will go towards the expansion of facilities, employee training, upgrading of information systems and introducing an enhanced range of services for businesses in Vietnam.

As part of this investment, by end 2009, the company will also launch the “DHL Fashion and Apparel Center for Excellence” in Vietnam, its first in Southeast Asia. The center will comprise of a core team of industry experts and be responsible for developing tailored solutions and provide consultancy services to customers in DHL's biggest fashion and apparel logistics market in South East Asia.

“The fashion and apparel industry is one of the core focus areas for DHL Global Forwarding in Asia Pacific. This industry contributed nearly US$2.6 billion to Vietnam in the first four months of 2009 alone, with US$9.5 billion in exports projected for 2009. Despite the economic slowdown, the sector is predicted to grow at five percent for the year which demonstrates some degree of resilience compared to other sectors ,” said Amadou Diallo, CEO, DHL Global Forwarding South Asia Pacific.

DHL, www.dhl.com