Global supply chain business, CEVA Logistics, officially opened its new facility in Ho Chi Minh City, Vietnam, doubling the size of its local operation, last month.
The new facility, strategically located close to the two cargo terminals of the country's busiest airport Tan Son Nhat International – and a short drive from the container port of Cat Lai – will reportedly enable CEVA to further develop its services in Vietnam.
CEVA has a long-established presence in Vietnam at Ho Chi Minh City and in the capital city of Hanoi serving one of the most dynamic and fast-growing markets in east Asia. In line with the country's economic growth over the last two years, CEVA's own business has grown rapidly in both freight management and contract logistics and with increasing customer demand across the board making the move to newer, larger premises essential.
The World Bank predicts that Vietnamese economic growth will continue to be around the 6.5 per cent per annum mark in coming years, particularly as a result of the free trade agreements which Vietnam signed with the European Union and the US in 2016. The agreements include abolishing certain customs duties and creating easier market access. This makes Vietnam an even more attractive production country for many companies.
“With CEVA’s demonstrated competencies in air, ocean and ground already well established, our flexible business model has also enabled us to move quickly to tap into Vietnam’s new opportunities for growth,” said CEVA CEO, Nicolas Sartini. “Thanks to our dedicated staff, our long experience, and now our expanded footprint, we are ready to help our customers grow their operations in Vietnam and beyond.”
In May, CEVA opened an office in Cambodia.