VIMC and MXV cooperate to promote goods supply chain

Việt NamViệt Nam25/11/2024

On November 22, in Hanoi, Vietnam National Shipping Lines (VIMC) and Vietnam Commodity Exchange (MXV) signed a memorandum of understanding on cooperation in logistics in commodity trading.

As the first national commodity exchange in Vietnam, MXV is currently connected with most of the world's largest commodity exchanges, listing more than 40 products for the Vietnamese market. The average daily transaction value reaches VND5,000 billion. In addition, MXV also provides price risk insurance tools. Meanwhile, VIMC plays a key role in the logistics and shipping industry, with a system of 16 ports and more than 2.5 million square meters of warehouses spread across the country.

Mr. Le Quang Trung, Deputy General Director of Vietnam National Shipping Lines (VIMC) spoke at the signing ceremony.

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 Vietnam's import and export activities”. Both sides are committed to making the most of their strengths in infrastructure, people, and experience in the industry to develop an effective commodity supply chain. With extensive relationships with international commodity exchanges, MXV will connect Vietnamese products to the global market. At the same time, VIMC will take advantage of its experience and relationships with international seaport 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 large markets," added Mr. Le Quang Trung. 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 building a Pork Exchange in Ho Chi Minh City, developing 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.

MXV and VIMC cooperate to promote goods supply chain photo 2

Mr. Nguyen Ngoc Quynh, Deputy General Director of MXV, spoke at the closing ceremony.

Mr. Nguyen Ngoc Quynh, Deputy General Director of MXV said: “We are focusing on building specialized Exchanges, while expanding the list of listed trading products. To realize this, MXV needs a strong partner in logistics and maritime transport with a comprehensive ecosystem like VIMC, to ensure consistency and efficiency throughout the supply chain”. Given the specificity and high legality of commodity trading, the two sides 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 supply chain. At the same time, the two sides will cooperate to develop a logistics center for agricultural products 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 storage time and improve product quality. This is especially important for perishable items such as agricultural products, helping to minimize losses 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 helps 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 in charge of 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.
Source: https://vimc.co/vimc-va-mxv-hop-tac-thuc-day-chuoi-cung-ung-hang-hoa/

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