New impetus for logistics and commodity trading in Vietnam

On November 22, 2024, in Hanoi, MXV and VIMC signed a memorandum of understanding on cooperation in logistics in goods trading.

On November 22, 2024, in Hanoi, the Vietnam Commodity Exchange (MXV) and Vietnam National Shipping Lines (VIMC) signed a memorandum of understanding on cooperation in logistics in commodity trading. This is considered an important turning point, creating a foundation to promote the strong development of the national commodity supply chain, while opening up many cooperation opportunities in the context of global economic integration.

Scene of the signing ceremony

Connecting resources, enhancing national position

The signing ceremony between MXV and VIMC is a clear demonstration of the strategic vision of both parties in enhancing the competitiveness of the logistics and goods trading industry in Vietnam in the international arena. Representatives of both parties emphasized the importance of developing a sustainable supply chain, with clear cooperation plans and strong commitments. This promises to create breakthroughs for both of these potential sectors in Vietnam.

As the first national commodity exchange in Vietnam, MXV has affirmed its pioneering role in organizing the commodity trading market in Vietnam in a transparent, professional and effective manner. Currently, MXV is connecting with most of the world's largest commodity exchanges, listing more than 40 products for the Vietnamese market. The average daily transaction value reaches 5,000 billion VND. In addition, MXV also provides price risk insurance tools, affirming its central role in connecting manufacturing and trading enterprises with international markets.

Meanwhile, VIMC plays a key role in the logistics and maritime transport industry, with a system of 16 ports and more than 2.5 million square meters of warehouses spread across the country. These figures demonstrate VIMC's outstanding potential in meeting supply chain needs, not only domestically but also internationally.

Mr. Le Quang Trung, Deputy General Director of VIMC affirmed: “ VIMC highly appreciates the achievements MXV has made in developing the commodity trading market in Vietnam. With the existing infrastructure system in VIMC's ecosystem, we believe that this cooperation will open up great opportunities to optimize the logistics system, contributing to promoting the import and export of goods in Vietnam”.

Mr. Le Quang Trung, Deputy General Director of Vietnam National Shipping Lines (VIMC)

Both parties are committed to maximizing their strengths in infrastructure, human resources, and industry experience to develop an effective supply chain. With extensive relationships with international commodity exchanges, MXV will connect Vietnamese products to the global market. At the same time, VIMC will leverage its experience and relationships with international port corporations to improve its import and export cargo transportation capacity, expand market share, and enhance competitiveness.

“ Vietnam has a great advantage in terms of geographical location in international shipping routes. The cooperation between MXV and VIMC will be an important step to take advantage of this advantage, bringing Vietnamese goods deeper into major markets,” Mr. Le Quang Trung added.

Towards a comprehensive supply chain

A key content of the cooperation agreement is that MXV will prioritize the use of VIMC's logistics and warehouse ecosystem for goods storage and delivery activities. VIMC's warehouse system is designed to be diverse, capable of storing many different types of goods, from agricultural products, industrial raw materials to deeply processed products, meeting diverse market needs.

In 2025, MXV plans to implement a series of important projects, including the construction of a Pork Exchange in Ho Chi Minh City and the development of a Rubber Exchange in collaboration with the Vietnam Rubber Industry Group. These projects require a professional and synchronous logistics system, from goods storage to quality control, transportation and distribution.

“We are focusing on building specialized Exchanges and expanding the list of listed trading products. To realize this, MXV needs a strong logistics and shipping partner with a comprehensive ecosystem like VIMC, to ensure consistency and efficiency throughout the entire supply chain,” said Mr. Nguyen Ngoc Quynh, Deputy General Director of MXV.

Mr. Nguyen Ngoc Quynh, Deputy General Director of Vietnam Commodity Exchange (MXV)

Given the specificity and high legality of commodity transactions, the two parties have agreed to research and coordinate the development of related products from logistics, forwarding, seaports, warehousing, inspection, issuance of warehouse certificates to payment and credit lending activities. These products will be integrated into a complete service package, to support customers throughout the entire supply chain.

At the same time, the two sides will cooperate to develop an agricultural logistics center at Saigon - Hiep Phuoc Port (Ho Chi Minh City). With a modern warehouse system, the center is capable of storing and preserving agricultural products, from fruits, vegetables to pre-processed products on a large scale, helping to extend the preservation time and improve product quality. This is especially important for perishable items such as agricultural products, helping to minimize loss and increase product value.

Developing a logistics center in a strategic location such as Saigon - Hiep Phuoc Port will help reduce transportation costs, especially for Vietnam's key agricultural export products. Saigon - Hiep Phuoc Port is one of the largest and most modern ports in the Southern region. Concentrating logistics here will help increase the efficiency of freight forwarding activities, enhancing the competitiveness of Vietnamese goods in the international market.

Within the framework of the signing ceremony, the two sides established a Joint Working Group, with representatives from each side responsible for monitoring and implementing cooperation contents. This is a strategic step to promote progress and quickly resolve issues arising during the implementation process. It is expected that specific projects will be launched in early 2025, creating the premise for long strides in building a comprehensive supply chain of goods.

The cooperation between MXV and VIMC has marked an important step forward in optimizing the supply chain and developing the commodity trading market in Vietnam. With the determination and strategic vision from both sides, Vietnam's logistics and commodity trading industry will increasingly make breakthroughs, affirming its position in the region and the world.

Source: https://congthuong.vn/dong-luc-moi-cho-nganh-logistics-va-giao-dich-hang-hoa-tai-viet-nam-360740.html