On November 22, 2024, in Hanoi, the Mercantile Exchange of Vietnam (MXV) and Vietnam Maritime Corporation (VIMC) officially signed a Memorandum of Understanding (MoU). This significant event marked the formalization of a strategic partnership aimed at harnessing Vietnam's robust logistics capabilities to enhance commodity trading. The MoU sets the stage for fortifying the national supply chain while unlocking new opportunities for collaboration in the context of deepening global economic integration. 

The signing ceremony

Leveraging resources to enhance the country’s status 

The signing ceremony reflected the strategic vision of both MXV and VIMC in bolstering the competitiveness of Vietnam’s logistics and commodity trading sectors on the global stage. Representatives of both parties underscored the importance of developing a sustainable supply chain with coherent plans and unwavering commitments. This partnership is expected to catalyze transformative growth in these critical sectors of Vietnam. 

As the first national commodity exchange in Vietnam, MXV has affirmed its pioneering role in organizing a transparent, professional and effective commodity trading market. Currently, MXV is interconnected with major international commodity exchanges, facilitating the trading of over 40 products for domestic clients. The exchange’s average daily trading value reaches nearly 5 billion VND. In addition, MXV also provides price risk management tools, reinforcing its central role in connecting Vietnamese businesses and international markets. 

Furthermore, VIMC plays a vital role in Vietnam’s logistics and maritime transport industry. Boasting a network of 16 port terminals and more than 2.5 million square meters of warehouse space across the country, VIMC showcases its significant ability to meet supply chain requirements on both a national and global scale. 

Mr. Le Quang Trung, Deputy General Director of VIMC, affirmed: " VIMC recognizes and values MXV's achievements in enhancing the commodity trading sector in Vietnam. Given VIMC's robust infrastructure, we are confident that this partnership offers a substantial opportunity to improve logistics systems and support the growth of Vietnam's import-export activities." 

Mr. Le Quang Trung, Deputy General Director of VIMC

Both parties are committed to fully leveraging their strengths in infrastructure, human resources, and industry expertise to develop an efficient and robust commodity supply chain. Through its extensive partnership with international commodity exchanges, MXV will facilitate the integration of Vietnamese products into global markets. Meanwhile, VIMC will capitalize on its experience and partnerships with global port operators to enhance the capacity for freight transport, expand market share, and boost competitiveness. 

"Vietnam holds a significant geographical advantage along key international maritime routes. The cooperation between MXV and VIMC will represent a crucial step in harnessing this advantage, enabling Vietnamese goods to penetrate deeper into major markets," Mr. Le Quang Trung added. 

Towards a comprehensive supply chain 

According to the MoU, MXV’s commitment to utilizing VIMC’s logistics infrastructure for commodity warehousing and transportation forms a cornerstone of their partnership. VIMC’s extensive and versatile warehouse systems are designed to handle a diverse range of goods, ranging from agricultural produce and industrial raw materials to processed products, addressing the varied needs of the market.  

In 2025, MXV intends to execute a range of strategic initiatives, which encompass the establishment of a pork-cut exchange in Ho Chi Minh City and a rubber exchange in partnership with the Vietnam Rubber Group. The success of these projects hinges on the development of a comprehensive logistics system that guarantees efficient coordination across storage, quality assurance, transportation, and distribution. 

Mr. Nguyen Ngoc Quynh, Corporate Vice President of MXV, stated: "MXV is dedicated to establishing specialized commodity exchanges and expanding our range of products. To realize this goal, MXV requires a strong logistics and maritime partner like VIMC, whose extensive ecosystem guarantees seamless and effective supply chain operations. " 

Mr. Nguyen Ngoc Quynh, Corporate Vice President of MXV

Given the specialized and regulated nature of commodity transactions, MXV and VIMC have agreed to jointly research and develop integrated services spanning logistics, forwarding, port operations, warehousing, quality assurance, issuance of warehouse receipts, payment solutions, and credit lending. These services will be consolidated into a comprehensive package, offering end-to-end support for customers throughout the supply chain. 

In addition, the two parties will also collaborate on establishing a logistics hub for agricultural produce at Saigon-Hiep Phuoc Port in Ho Chi Minh City. Equipped with advanced storage facilities, the hub can handle a wide range of agricultural products, from fresh produce to processed goods. These capabilities will help extend shelf life, maintain product quality, and minimize losses, which are critical measures for managing perishable goods. This initiative is poised to significantly enhance Vietnam's agricultural export capacity, bolstering its competitiveness in international markets. 

Located strategically at Saigon Port-Hiep Phuoc port, one of southern Vietnam's largest and most advanced ports, the hub is anticipated to significantly reduce transportation costs, particularly for Vietnam's primary agricultural export products. Centralizing logistics activities in this area will improve freight efficiency and enhance the global competitiveness of Vietnamese goods. 

To ensure effective implementation, representatives from both parties have been appointed to oversee and expedite the execution of collaborative projects. This strategic initiative aims to maintain progress while addressing potential challenges. Key projects under this partnership are set to commence in early 2025, laying the groundwork for significant strides in developing a comprehensive and sustainable commodity supply chain. 

The collaboration between MXV and VIMC signifies a critical advancement in optimizing supply chains and strengthening Vietnam’s commodity trading market. With shared determination and strategic foresight, this partnership is poised to drive breakthrough growth in Vietnam's logistics and commodity trading sectors, further cementing the country’s position as a regional and global leader. 

Nguyen Huong