Damco expands in Vietnam

Maersk’s third-party logistics subsidiary has opened a larger logistics facility in Vietnam’s Binh Duong province “in preparation for the upcoming years of strong economic growth” in the country, the company said.    Damco has opened a larger logistics facility in Vietnam’s Binh Duong province to include 37,150 square meters of space and 141 loading bays.
   The facility is also U.S. Customs-Trade Partnership Against Terrorism certified and equipped with the latest warehouse operations and security technologies, the company said. The cost of the newly expanded facility were not disclosed.
   This expansion joins Damco’s Haiphong warehouse in North Vietnam, measuring 11,500 square meters.
   “In preparation for the upcoming years of strong economic growth, Damco Vietnam has invested substantially to upgrade our capacity in both geographical areas of North and South [Vietnam],” said Marco Civardi, area managing director for Damco in Vietnam and Cambodia, in a statement.
   Damco expects its Vietnam operations to benefit from the establishment of the ASEAN Economic Community (AEC) in December 2015, the Trans-Pacific Partnership (TPP) agreement, and the free trade agreement between Vietnam and the European Union.