UPS has become the first global express delivery company to be
wholly-owned in Vietnam after it acquired its venture partner’s 49
percent stake, the company announced on March 19.
The partner was VN Post Express.
“With UPS now wholly-owned in Vietnam, our customers in this
growing market are better connected to the world through the UPS
global network,” said Brendan Canavan, who heads the company’s Asia
Pacific operations.
As a part of its global growth
strategy, UPS has invested in new facilities and technology in key
commercial and industrial centres across Vietnam, including Ba
Ria-Vung Tau, Binh Duong, Hai Duong and Bac Ninh provinces, the company
said in a press release.
The company has enjoyed
solid growth in Vietnam since it started its operations in 1994.
UPS Vietnam’s export volume grew by more than 20 percent in 2012.-VNA