PSA Vietnam Pte Ltd (PSA) and Saigon Newport Corporation (SNP) signed a Memorandum of Understanding (MOU) for cooperation with the aim of promoting sustainable port development and improving supply chain connectivity in Vietnam and the Association of Southeast Asian Nations (ASEAN) region, according to the company's release.
The signing took place at the Singapore Regional Business Forum held in Hanoi, Vietnam, on 7 July 2023.
The MOU emphasizes the establishment of sustainable partnerships between the two companies, with a common goal of leveraging the understanding and expertise of both sides to guide the development of the SNP business ecosystem and Vietnamese enterprises. The collaboration includes areas in workforce training and development programmes, development of free trade zones, investments and port development, and the application of digital solutions and information technology in port operations.
Building on existing agreements, PSA and SNP will further advance their cooperation in the areas below:
1. Partnership - Fostering collaborative relationships with partners to build, develop and grow together.
2. Port Development - Expanding beyond coastal ports, both parties will explore the development of inland ports, depots and warehouses, and establish comprehensive logistics systems to enhance connectivity within the supply chain.
3. Port Ecosystem - Complementing the ports, both parties will explore the development and establishment of Free Trade Zones and value-added port services.
4. Port IT Systems - Embracing digital economic development, leveraging digital solutions and information technology to optimize port operations and logistics.
5. People Development - Acknowledging the importance of human capital, PSA and SNP will collaborate in training, developing, and sharing professional experiences.
PSA Vietnam is a subsidiary of PSA International. PSA’s ports and cargo solutions portfolio comprises over 60 deepsea, rail and inland terminals, across 160 locations in 42 countries – including two flagship port operations in Singapore and Belgium, as well as affiliated businesses in supply chain management, logistics, marine and digital services.
Saigon Newport Corporation (SNP) is a company focused on sustainable operation and business across three pillars: Port Operations, Logistics Services, and Maritime and Sea- based Economic sectors. SNP ensures smooth supply chain operations through efficient port operations at its 16 port facilities in key economic regions of Vietnam.