UPS sets up joint venture in Vietnam

The UPS-Vietnam joint-stock company made debut in Hanoi on May 11 as a result of cooperation between the US-headquartered UPS and the Express Mail Service Joint-stock Company, becoming the first joint venture between the US in the post and telecommunications sector.

Deputy Minister of Information and Communication Nguyen Thanh Hung said the new company is expected to help connect Vietnam with the world.

Under the accord of establishment, UPS committed to further investment in its branches located in major cities and industrial hubs nationwide in an effort to strengthen its Asian capacity and broaden UPS global connection.

UPS-Vietnam General Manager Jeff McLean said his company has set a target to become a leader in business connection in Vietnam , covering not only express delivery of mails and goods but also a wide range of services including consultancy in customs procedures, distribution and storage.

UPS will expand its network to 63 Vietnamese provinces and cities, committed the UPS-Vietnam chief.

UPS has signed up the Express Mail Service JSC under the Vietnam Post and Telecoms Group (VNPT) as its agent since 1994 and the two partners have expanded operation to Hanoi and Ho Chi Minh City since then.

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