South Korea's KCTC Vietnam Ltd. ties up with Tan Cang Cai Mep JSC

The signing ceremony of the MOU between TCCT and KCTC took place at Tan Cang Cai Mep port of Saigon Newport Corporation in Ba Ria – Vung Tau

The tie-up will help both parties to maximise their strengths, thereby contributing to the socioeconomic development of Ba Ria-Vung Tau and the key southern economic zone. According to the MoU, the two parties will extend investment in the two parties' projects and others where their member units have strengths and advantages.

The two parties will also tap into each other's capacities and experiences to develop and expand markets, as well as share information on key investment projects that are of mutual interest in the coming time.

KCTC Vietnam is a FDI enterprise with 49 per cent Korean investment. Established in 2008, the company is headquartered in Ho Chi Minh City and has seven major branches in other provinces. KCTC Vietnam focuses on multimodal transport business, cargo handling services, warehousing services, logistics consulting services, goods storage.

"With over 12 years of experience in logistics services, KCTC Vietnam is aiming to become a centre providing the best logistics solutions to customers in the East-South-North Asia region," Park Hyun Bae, general director of KCTC said.

Meanwhile, Tan Cang Cai Mep JSC (TCCT) is a subsidiary of Saigon Newport Corporation, established in 2007. Put into operation in June 2009, TCCT is Vietnam's first deep-water seaport, capable of receiving ships up to 160,000 DWT.

Ngo Minh Thuan, general director of Saigon Newport Corporation said that after 11 years of development, TCCT seaport continues to expand and upgrade facilities with new warehouse and logistics services. Recently, TCCT has teamed up with KCTC to handle Out of Gauge shipments in the Cai Mep port area. Therefore, the new partnership is expected to pave way for promising development for both companies while effectively serving foreign investors in Vietnam.