UPS and P & T Express have established UPS Vietnam as a joint stock company to expand the UPS footprint and better serve customers in Vietnam. Through the joint stock company, UPS will invest in new facilities in key commercial and industrial centers across Vietnam to widen access to growing intra-Asian capability and connect to the global UPS network. UPS will extend its express pickup-and-delivery service to 63 provinces in Vietnam and offer later pick-up and cut-off times.
Terms of the deal were not disclosed. The new company becomes a single source for Vietnamese businesses to use not only UPS express and expedited small package services, but also UPS transportation and supply chain capabilities that include freight forwarding, Customs brokerage and contract logistics warehousing and distribution.
“With this joint stock company and the strong relationship we have with our local service partner, UPS gains greater flexibility to grow transportation and logistics capabilities in Vietnam,” says Derek Woodward, president of UPS Asia Pacific Region.
The UPS Vietnam head office will be located in Ho Chi Minh City and led by Jeff McLean, who was appointed general manager of UPS in Vietnam earlier this year. McLean most recently was in Singapore with previous leadership positions in Hong Kong, Australia and New Zealand since joining the company’s supply chain operation in 2003.
“We are extremely pleased to partner with UPS, as this collaboration will boost our combined efforts to connect Vietnamese businesses to the rest of the world, and to jointly grow the business,” says Madam Dang Thi Bich Hoa, chairwoman and chief executive officer of Vietnam Post Express Joint Stock Co.