PSA Vietnam Pte Ltd (PSA) and Saigon Newport Corporation (SNP) signed a Memorandum of Understanding (MOU) for cooperation in promoting sustainable port development and improving supply chain connectivity in Vietnam and the Association of Southeast Asian Nations (ASEAN) region.

The MoU looks to establish 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, the development of free trade zones, investments and port development, and the application of digital solutions and information technology in port operations.

PSA said in a statement that the MoU 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.

"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 and digital technologies and expanding commercial partnerships to provide efficient and sustainable solutions to our customers," said Ong Kim Pong, regional CEO of Southeast Asia, PSA International.

"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," he added.

Nguyen Phuong Nam, executive vice director of SNP, for his part, said the signing event aligns with the company's 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," he said, adding that SNP greatly values the relationship with PSA Vietnam and the PSA Group.

The signing took place at the Singapore Regional Business Forum held in Hanoi, Vietnam, on July 7, 2023. 

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.