CEVA's Joint Venture Entity in Vietnam
CEVA Logistics, announced on Dec. 20, 2012, its new joint venture (JV) in Vietnam with long time partner, Indo Trans Logistics (ITL) Group. The JV in Vietnam, named CEVA Logistics (Vietnam) Co. Ltd, allows CEVA to have a stronger presence in Vietnam with its local head office in Ho Chi Minh.
CEVA’s presence in Vietnam dates back over 12 years where it began as a representative office with limited function offering Freight Management services. With this new entity, the company will be able to grow in geography and customer base, offer end-to-end integrated supply chain services and hopes to strengthen its capabilities to serve customers, both existing and new, more effectively.
ITL Group, provider of transportation logistics and freight forwarding in Vietnam and Indochina, was set up in 1999 and has since grown to be one of the Top 500 private companies in Vietnam for the last five years.
“This is an exciting time for CEVA in Vietnam despite the global macroeconomic situation,” said Nelson Chow, CEVA’s Managing Director for Vietnam in a statement. “The set up of a fully operational entity in Vietnam realizes our long term vision to establish a strong CEVA presence and service offerings for our customers’ needs in Vietnam and in Indochina. Our goal is to develop CEVA as a supply chain provider of choice in the market.”
“The joint venture is a great milestone for both ITL and CEVA in the Vietnam market, cementing our long term partnership to provide our customers with better and more comprehensive solutions in Freight Management and Contract Logistics. With ITL’s local strength and CEVA’s leading global capabilities, we can now truly serve our customers’ needs end to end,” explained Ben Anh, Managing Director, ITL Vietnam.
CEVA’s investment in Vietnam extends the company’s footprint in Southeast Asia and reinforces its global presence in over 170 countries.
CEVA’s Executive Vice President for Southeast Asia, Loo Seng Tak commented: “Vietnam is a fast developing market in Asia and is strategically located to be an ideal hub for Southeast Asia and China. There is significant potential for growth in the logistics and supply chain industry in this country. We look forward to enhance our value proposition to our customers and strengthen our long term presence in Vietnam.”