CT Land, an affiliate of CT Group, on April 24th signed a memorandum of understanding (MoU) on the development of logistics systems in Vietnam with the South Korean company of CJ GLS of CJ Group.
CT Land, an affiliate of CT Group, on April 24 th signed a memorandum of understanding (MoU) on the development of logistics systems in Vietnam with the South Korean company of CJ GLS of CJ Group.
Under the MoU, the two sides will cooperate in building and exploiting logistics systems in the Vietnamese cities and provinces of Binh Duong, Da Nang and Bac Ninh.
At the signing ceremony, CT Group President, Tran Kim Chung, said that CT Land would be responsible for the development of infrastructure, stores and storing sites, while the South Korean side would invest in technical subprojects and technology.
In the next phase, CT Land and CJ GLS will consider to set up a Joint-venture to exploit their logistics system in Vietnam.
At this point, CT Land is investing US$12million to build a logistics centre in Binh Duong and is planning to invest US$ 15 million in another logistics project in Bac Ninh and US$8million in a logistics facility in Da Nang, according to him.
CT Group also has a plan to expand its business to Myanmar and has signed a deal on comprehensive strategic partnership with the local group of Shwe Taung Development to participate in building trade centres and building material production in the country.
Source: TBKT Translated by Thu Nguyen