From the "super" Vinh Phuc ICD port to the aspiration of a regional logistics center

Built-in Huong Canh town and Son Loi commune, Binh Xuyen district, Vinh Phuc province with a scale of 83 hectares, total investment capital of over 200 million USD, and design capacity of customs clearance of about 530,000 TEU/year. Vinh Phuc ICD Logistics Center project is the first name of a smart logistics network in the ASEAN region with the function of integrating a distribution center and inland port to serve logistics service provision according to the needs of the market.

Vinh Phuc ICD Logistics Center project has a scale of 83 hectares, built in Huong Canh town and Son Loi commune, Binh Xuyen district - the "capital" of the industrial park of Vinh Phuc province.

The project was started at the end of 2021, invested by T&Y Superport Vinh Phuc Joint Stock Company (a joint venture between T&T Group and its Singaporean partner, YCH Group). Once completed, this will be one of the largest logistics centers in the North, connecting industrial parks by road and rail as well as connecting to Hanoi and Cat Bi international airport (Hai Phong) and Yunnan province of China; creating a breakthrough for Vietnam's logistics sector, towards the goal that by 2025, logistics costs will be reduced to 16% of GDP and the contribution of logistics services to GDP will reach 5-6%, the growth rate of logistics services reach 15-20%. At the same time, the project will contribute to connecting Vinh Phuc with ASEAN and international countries.

Sharing with Bidding Newspaper, Ms. Chan Yoke Ping - CEO of Vinh Phuc T&Y Superport Joint Stock Company said that the works of phase 1 of the "super" port were completed in September 2022. This is an extended cargo terminal (Off - Airport Cargo Terminal) to provide air cargo terminal services to surrounding industrial zones with the goal of reducing congestion at airports during peak seasons. The demand for air freight is forecasted to increase as more and more electronics manufacturers set up factories in Vietnam. When completed, the Port is expected to provide critical infrastructure to support exports, opening the door to breakthroughs in Vietnam's logistics sector.

In order to elevate Vinh Phuc ICD Logistics Center to become the largest and most efficient logistics center in Vietnam, in August 2022, the Project Investor shook hands with the integrated Vietnam Airlines Corporation (Vietnam Airlines). Airline inventory extends into this airline's entire service/commercial model. At the same time, in cooperation with Vietnam Railways Corporation, it is expected to build a railway branch connecting the national railway to the area of ​​the "super" port project.

Logistics warehouse system according to international standards at Vinh Phuc ICD Logistics Center.

As an industrially developed province with many FDI enterprises located in the area, Vinh Phuc's freight demand is very large. In the first 9 months of 2022, the province's export turnover is estimated at nearly 11 billion USD, up more than 25% compared to the same period in 2021. The export market is increasingly expanding with more than 40 countries and territories around the world. in the world, focusing on a number of large markets such as the EU, the United States, China, Russia, and markets that have signed free trade agreements with Vietnam. In which, motorcycle components, complete motorcycles, ceramic tiles, shoes, clothes, and electronic components are the strong products of the province.

In the opposite direction, the total import turnover of the first 9 months of 2022 reached more than 10 billion USD, up more than 19% compared to the same period in 2021. The main import markets are China, Korea, EU, and ASEAN... Imported items include machinery, equipment, production spare parts, fabric, iron, and steel...

In order to meet the needs of goods circulation of businesses, Vinh Phuc has promoted the development of logistics infrastructure in sync with transport infrastructure, trade and service infrastructure; strengthen administrative reform; applying information technology in administrative management, handling administrative procedures quickly and conveniently at all stages; create favorable conditions for enterprises to develop logistics services.

As for the Vinh Phuc ICD Logistics Center Project, it is expected that when it comes into operation, it will handle about 10% of the total volume of containerized goods in the northern provinces. The "super" port is expected to be the main connection node for the global and regional supply chains between China, Vietnam, ASEAN, and other international markets to promote trade.