Vinh Phuc ICD Logistics Center - Important Traffic Hub and Multimodal Forwarder

10:06:44 AM | 14/12/2020

At the recent launching ceremony of ASEAN Smart Logistics Network, witnessed by Vietnamese Prime Minister Nguyen Xuan Phuc and Singaporean Prime Minister Lee Hsien Loong, Secretary of the Vinh Phuc Provincial Party Committee Hoang Thi Thuy Lan presented the investment certificate on the Vinh Phuc ICD Logistics Center Project to Mr. Do Quang Hien, representative of the consortium of T&T Group and YCH-YCH Holdings Group (Singapore).

Vinh Phuc ICD Logistics Center, costing over VND3,800 billion for construction, covers 83 ha in Huong Canh town and Son Loi commune, Binh Xuyen district. The facility will provide logistics services for manufacturers in Vinh Phuc and other provinces. It will transship domestic goods, imports, exports and transits on the Hanoi - Lao Cai Economic Corridor and flows of cargoes from China through Lao Cai Border Gate and function as a place to store, distribute, produce and consume in Hanoi, Lao Cai, Yen Bai, Phu Tho, Vinh Phuc, Tuyen Quang and Ha Giang. Besides, the center is an inland cargo clearance, traffic hub and important multimodal transport forwarder for the region, and provides customs clearance for import and export goods.

Speaking at the launch ceremony, Vietnamese Prime Minister Nguyen Xuan Phuc said, “This is a meaningful project and it’s a manifestation of a cohesive and responsive ASEAN and creative action of companies during the 37th ASEAN Summit Week and relating high-level meetings towards the construction of the ASEAN Community 2025 of peace, stability, and sustainable development”.

He hailed the cooperation between T&T Group (Vietnam) and YCH Holdings (Singapore) and the launch of the ASEAN Smart Logistics Network. He affirmed that Vinh Phuc ICD Logistics Center will be a “stepping stone” for further cooperation and connection between Vietnam and Singapore.

Expressing her joy at the event that Vinh Phuc was honored to be selected for the ICD, Ms. Hoang Thi Thuy Lan affirmed, Vinh Phuc will always facilitate domestic and foreign investors to carry out projects to foster the province’s socioeconomic development.

Vinh Phuc ICD Logistics Center is one of the largest ICD logistics centers in the north. Expected to be completed in 50 months, the project will phase out the investment progress, with investment preparation, planning and land acquisition scheduled from the fourth quarter of 2020 to the second quarter of 2021; construction license obtained and construction commenced from the second quarter of 2021 to the third quarter of 2021; the first phase construction completed from the third quarter of 2011 to the second quarter of 2022; the first phase operation started from the third quarter of 2020; and the second phase of investment and operation completed from the first quarter of 2023 to the fourth quarter of 2024.

By Nguyet Tham, Vietnam Business Forum