Express carrier UPS has acquired the 49 percent interest that VN Post Express had in a joint venture, giving the company 100-percent control of its operations in Vietnam.
"With UPS now wholly-owned in Vietnam, our customers in this growing market are better connected to the world through the UPS global network,” said Brendan Canavan, UPS Asia-Pacific president, in a statement.
UPS has invested in new facilities and technology in commercial and industrial centers across Vietnam, including Ba Ria, Binh Duong, Hai Duong and Bac Ninh provinces. The centers are located in business districts where there is a high demand for logistics services, the company said.
In addition to the centers, UPS has made other investments in Vietnam in the past two years, including the introduction of its Preferred LCL (less-than-container-load) Ocean Freight service which provides up to 40-percent faster transit than traditional LCL services to the United States from the port of Ho Chi Minh City. In 2012, enhanced shipping and tracing solutions - such as Internet Pickup and UPS Quantum View Manage - were made available in Vietnamese on UPS.com.
"UPS has served Vietnam since 1994, offering its wide range of logistics solutions to multinational corporations and small and midsized enterprises alike," said Jeff McLean, general director of UPS Vietnam. "We have seen the transformation of the country to the dynamic export-oriented economy it is today and UPS has grown in parallel with the market. Wholly-owned operations will give us the flexibility to further expand our operations and grow in partnership with Vietnamese businesses."
With the country's increased economic activity last year, UPS Vietnam's export volume growth grew by more than 20 percent in 2012.