Viettel Post Joint Stock Corporation has announced a resolution of the Board of Directors on investing around VNĐ136 billion (US$5.3 million0 to establish a subsidiary in Laos in an effort towards realising its cross-border logistics expansion plan.
Viettel Post is the first Vietnamese enterprise to strengthening logistics connections and developing cross-border logistics between the two countries.
Viettel Post and the Korea Importers Association (KOIMA) on Thursday in Hà Nội signed a strategic co-operation agreement in the fields of logistics, investment, and commerce.
Viettel Post Corporation targeted to achieve 30 per cent increase of delivery and logistics revenue in 2023, according to its annual general meeting of shareholders (AGM) held in Ha Noi on Wednesday.
With consumers switching heavily to online purchases, the express delivery service market is expected to see many positive developments. However, fierce competition and high fuel costs have significantly affected the profit margins of delivery businesses.
A number of big postal enterprises in Viet Nam, such as Viettel Post and Vietnam Post, are racing to tap into the local logistics market with a scale of nearly US$62 billion.
The Ministry of Industry and Trade’s task force and Viettel Post Joint Stock Corporation (Viettel Post) have launched a shopping service on Viettel Post’s Voso.vn e-commerce platform to help people access food without leaving their homes amid the COVID-19 pandemic.