[Vnbiz] MOL in Vietnam

[Craig Stevenson]

The JOURNAL of COMMERCE ONLINE

Japan's MOL is planning major investments in Vietnam's port and
shipping-related industries as the latter prepares to enter the World Trade
Organization.

President Akimitsu Ashida in Hanoi on Monday said that his company would
focus on eight services in Vietnam, comprising port logistics, forwarding,
seamen's training, ship repair, marine piloting, transshipment and tourist
services, according to a report in the Vietnam Economic Times.

Ashida said the shipping line operator would decide the time and the scale
for each investment plan depending on conditions available in the country.

He noted Vietnam's transport market had reached high growth owing to the
fast increase in the number of foreign investors. Ashida also predicted that
there would be an influx of major Japanese investors in Vietnam in the
future, including MOL, which is planning to tap business opportunities
there.

The company is conducting research for a depot in the southern port of Cai
Mep, and has selected Vietnam for a new a ship repair center.

The center should be able to meet 10 percent of demand for maintenance and
repair for the national fleet of 750 vessels now and 900 vessels in 2009, he
said.

After opening its representative office in Vietnam a decade ago, MOL has
seen business grow 64 times in forwarding. The volume in goods transport is
expected to amount to 6,400 containers this year, generating estimated
revenue of $34 million.
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