SINGAPORE, March 11, 2024 /PRNewswire/ — In a significant move towards enhancing ASEAN supply chain connectivity, YCH Group Pte Ltd, a leading integrated supply chain management and logistics provider in Asia Pacific, and Vientiane Logistics Park Co., Ltd (VLP) are thrilled to announce a landmark Memorandum of Understanding (MOU). Scheduled to be formalised at the AEM Interface Meeting with ASEAN-BAC on 08 March 2024, this partnership underlines the shared commitment of both entities to strengthen the region’s logistics infrastructure through the Laos Logistics Link (LLL)/LaosConnect™, an integral part of the SGConnect™ (Smart Growth Connect) programme.
About SGConnect™
Initiated in 2018 by ASEAN-BAC, the SGConnect™ initiative seeks to foster sustainable and inclusive urban growth across the ASEAN region. Spearheaded by Singapore’s YCH Group Pte Ltd, this visionary programme aims to establish Smart Growth Centres throughout ASEAN. By improving distribution efficiencies and ensuring real-time visibility of goods movements, SGConnect™ serves as a vital support to the ASEAN Connectivity Master Plan 2025, enhancing smart logistics and supply chain infrastructure to facilitate smoother intra-ASEAN trade and broaden international connections. With successful models like VietnamConnect™ and CambodiaConnect™ already making an impact, SGConnect™ is poised to transform the logistical framework of the region.
Strategic Partnership Highlights
This collaboration between YCH Group and VLP will focus on several key areas:
Warehousing and Services Exploration: Together, the two organisations will assess and meet the warehousing, fulfilment, logistics value-add services, cold storage, and fresh food processing needs within the VLP. Supply Chain Connectivity Services: A joint venture to explore new supply chain connectivity services will aim to facilitate cross-border trade between Laos and the wider ASEAN market, as well as between Laos and China. Technology and IT Solutions Development: Utilising YCH Group’s technology arm, Y3 Technologies, the partnership is set to develop and implement warehousing and logistics IT solutions for VLP and Thanaleng Dry Port (TDP). Skills Development and Capacity Building: Working with SCALA (Supply Chain And Logistics Academy), both organisations will co-create competency frameworks and sustainable development programmes for VLP employees and industry participants.
The MOU between YCH Group and Vientiane Logistics Park Co., Ltd embodies a future vision where enhanced supply chain networks lead to greater competitiveness and economic integration for the ASEAN region. Through their joint efforts, both organisations are committed to transforming the ASEAN logistical landscape, making it more efficient and interconnected.
"We are immensely enthusiastic about initiating this strategic partnership with Vientiane Logistics Park, as it heralds a critical advancement in our endeavour to augment ASEAN supply chain connectivity. By amalgamating our strengths, we anticipate unlocking novel avenues for growth and efficiency within the regional logistics infrastructure, specifically facilitating cross-border commerce between Laos and the broader ASEAN market, as well as between Laos and China. This collaboration is a testament to our dedication to the SGConnect™ initiative and embodies our vision for a seamlessly interconnected ASEAN. Collectively, we are laying the groundwork for a new epoch of intelligent logistics, wherein advanced technologies and innovative solutions catalyse sustainable development and economic harmonisation across frontiers." – Dr. Robert Yap, Executive Chairman, YCH Group.
"We are profoundly delighted to announce the commencement of a strategic partnership with YCH Group, which signifies a pivotal juncture in our efforts to enhance supply chain connectivity within the ASEAN region. This collaboration marks a significant advancement in cross-border trade facilitation between Laos, the wider ASEAN community, and China, thereby solidifying our commitment to developing a more cohesive and resilient logistics infrastructure. Through this alliance, our dedication lies in harnessing state-of-the-art technologies and pioneering methodologies to transform the logistical framework, thereby fostering sustainable development and economic harmonisation throughout the region. In unison, we aim to establish a formidable platform that elevates efficiency, connectivity, and competitive edge across the ASEAN landscape." – Dr. Chanthone Sitthixay, President, Vientiane Logistics Park Co., Ltd.
About YCH Group
YCH Group is Singapore’s largest homegrown end-to-end supply chain management and logistics company, recognised as a leading regional partner for many of the world’s top brands across the Asia Pacific. With a history dating back to 1955, YCH Group operates in over 100 cities throughout the Asia Pacific region, employing advanced technology systems and proprietary solutions to serve customers across the entire supply chain. The company is renowned for its innovative 7PL™ approach, seamlessly integrating supply chain strategy with execution and excelling in industries such as fast-moving consumer goods, electronics, chemical and healthcare, cold chain logistics, and e-commerce.
For more information, please visit www.ych.com
About VLP
Vientiane Logistic Park is among the major projects under Laos Logistic Link which begin to operate in 2021. Vientiane Logistic Park is a project that enhances the execution under the directive of the Lao Government defining collection and distribution points in each region that connect with the neighbouring countries. Aiming to Develop Lao human capital to support investors through the transfer of know-how from advanced economies through partnership and alliance with regional and global investor
For more information, please visit www.vientianelogisticspark.com
This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network
