Following the cooperation agreement focused on domestic logistics development with the Vietnam Maritime Corporation on November 22, 2024, the Mercantile Exchange of Vietnam (MXV) is reinforcing its commitment to enhancing the national commodity supply chain through strategic alliances with international logistics firms.

On December 5, 2024, in Singapore, MXV and CWT International Limited (CWT), a global logistics group, formally signed a Memorandum of Understanding (MoU) aimed at fostering strategic collaboration in commodity trading logistics. This event not only signifies a pivotal advancement in international partnerships but also opens up substantial growth prospects for Vietnam’s logistics and supply chain sectors.

The signing ceremony witnessed the participation of high-ranking officials from both parties. MXV was represented by Mr. Nguyen Duc Dung and Mr. Duong Duc Quang, both Corporate Vice President, along with Mr. La Viet Phuong, Director of the IT Department. CWT was represented by Mr. Raymond Sha, Executive Deputy of Chairman Office, and Mr. Liu Yaxin, Head of Corporate Governance.

The signing ceremony between MXV and CWT

Integrating Global Vision with Domestic Potential

Founded in 1970, CWT International Ltd has earned a reputation as a premier provider of integrated logistics services and global supply chain solutions. Guided by the vision of "Connecting Global Trade," CWT is dedicated to enhancing integrated logistics services, commodity marketing, financial services, and innovative technical solutions to streamline global supply chains and promote international trade.

CWT currently manages a vast logistics network that encompasses warehouses and distribution centers at 200 seaports and 1,600 locations globally. The company provides a wide range of supply chain services, including physical freight handling, supply chain management, and strategic logistics consulting, with particular emphasis on critical sectors like base metals and energy. Their operations are supported by advanced technology, a state-of-the-art transportation network, and experts with years of industry experience. Importantly, CWT's dedication to sustainable logistics practices has established it as a reliable partner for leading international companies.

Vietnam's advantageous geographical position, coupled with its swiftly expanding economy and strong integration into the global market, is positioning the country as a compelling hub for international logistics firms and corporations. The favorable environment and substantial growth prospects in this sector not only create opportunities for partnerships but also attract investments from foreign enterprises. CWT has established a state-of-the-art warehouse network in Vietnam.

Mr. Raymond Sha, Executive Vice President of CWT, stated: "The logistics and freight sectors in Vietnam present significant opportunities for expansion. The country has all the essential elements to establish itself as a regional logistics center. We are honored to collaborate with MXV, a forward-thinking organization with a strategic outlook on the Vietnamese market. The synergy between CWT’s extensive global network and MXV’s profound knowledge of the local market marks a substantial advancement in developing more integrated logistics solutions for Vietnam and Southeast Asia."

Mr. Raymond Sha, Executive Vice President of CWT (third from left)

Promoting International Supply Chain Development

The foundation of the partnership agreement between MXV and CWT is rooted in their dedicated focus on creating sustainable logistics solutions. This encompasses enhancing transportation efficiency, reducing environmental impacts, and leveraging cutting-edge technologies. Such efforts reflect not only a commitment to operational excellence but also a strategic approach to establishing a robust supply chain that addresses the stringent requirements of the global market.

The Memorandum of Understanding outlines that both parties will establish an international strategic partnership focused on logistics and delivery. In this context, CWT will be instrumental in offering logistics services, warehousing, and import-export assistance for Vietnamese companies engaging in trade through MXV. This collaboration allows local businesses to take advantage of CWT’s advanced warehouse facilities both in Vietnam and abroad, while enhancing efficiency in transportation, storage, operational expenses, and the overall delivery process.

CWT leverages its vast experience and strong logistics network to guarantee precision and efficiency in all commodity trading operations. This partnership with MXV enhances the delivery of effective logistics solutions and the development of comprehensive, sustainable global supply chain strategies. This capability is particularly crucial as Vietnamese businesses progressively engage with global supply chains that require high standards of speed, accuracy, and traceability.

During the event, Mr. Nguyen Duc Dung, Corporate Vice President of MXV, highlighted the significance of the occasion by stating, “This marks a strategic advancement for MXV in accessing the most advanced logistics solutions available globally. We are confident that collaborating with a prestigious organization such as CWT will deliver outstanding benefits to businesses in Vietnam, while also fostering the growth of our national supply chain and enhancing international trade.”

Mr. Nguyen Duc Dung, Corporate Vice President of MXV (right)

Mr. Nguyen Duc Dung’s comments highlight MXV’s commitment to ongoing innovation and the expansion of its logistics network, aimed at empowering Vietnamese businesses to achieve greater success on the international stage.

The signing ceremony between MXV and CWT emphasizes the essential trend of trade integration and globalization. As Vietnam continues to strengthen its role in the global economy, this partnership is anticipated to enhance the sustainable development of the national supply chain and logistics industry. Furthermore, it presents an opportunity for Vietnam to reinforce its significant position in global trade dynamics while drawing investment from international companies into the country’s logistics, manufacturing, and trade sectors.

Nguyen Huong