PSA Vietnam and Saigon Newport Corporation (SNP) signed a Memorandum of Understanding (MOU) for cooperation with the aim of promoting sustainable port development and improving supply chain connectivity in Vietnam and the Association of Southeast Asian Nations (ASEAN) region. The signing took place at the Singapore Regional Business Forum held in Hanoi, Vietnam, on 7 July 2023.

The MOU emphasizes the establishment of sustainable partnerships between the two companies, with a common goal of leveraging the understanding and expertise of both sides to guide the development of the SNP business ecosystem and Vietnamese enterprises. The collaboration includes areas in workforce training and development programmes, development of free trade zones, investments and port development, and the application of digital solutions and information technology in port operations.

Building on existing agreements, PSA and SNP will further advance their cooperation in the areas below:

Partnership – Fostering collaborative relationships with partners to build, develop and grow together.

Port Development – Expanding beyond coastal ports, both parties will explore the development of inland ports, depots and warehouses, and establish comprehensive logistics systems to enhance connectivity within the supply chain.

Port Ecosystem – Complementing the ports, both parties will explore the development and establishment of Free Trade Zones and value-added port services.

Port IT Systems – Embracing digital economic development, leveraging digital solutions and information technology to optimize port operations and logistics.

People Development – Acknowledging the importance of human capital, PSA and SNP will collaborate in training, developing, and sharing professional experiences.

The MOU was signed in the presence of Vietnam’s Deputy Prime Minister Le Minh Khai and Singapore’s Minister for Manpower and Second Minister for Trade and Industry, Dr Tan See Leng. The MOU is a testament to the warm friendship and cooperative relationship between Singapore and Vietnam and serves as a catalyst to drive and enhance supply chain connectivity between Southeast Asia and the global market, fostering greater trade and economic integration in the region.

Mr Ong Kim Pong, Regional CEO Southeast Asia, PSA International, said, “We are pleased to extend our collaborative partnership with SNP, a well-established port and supply chain operator in Vietnam. PSA Southeast Asia is committed to advancing our node-to-network strategy, leveraging our strengths in end-to-end multimodal movements, digital technologies and expanding commercial partnerships to provide efficient and sustainable solutions to our customers. We look forward to working alongside SNP in developing win-win innovations as we co-create a resilient, agile and sustainable supply chain network in this region.”

Mr Nguyen Phuong Nam, Executive Vice Director of SNP, said, “The signing event aligns with our business development direction and strategy, leveraging the strengths of both parties. For many years, PSA has been a reliable partner and companion in important projects, contributing to the completion of the port-logistics ecosystem and digital ecosystem of SNP. We also highly prioritize the development of high-quality human resources. SNP greatly values the relationship with PSA Vietnam and the PSA Group, considering them more than just partners.”