English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Cargolux reflects IMF’s suggestion to Vietnam

LUXEMBOURG: April 14, 2016. Cargolux has added a third weekly frequency from Luxembourg to Ho Chi Minh City via Doha with a return via Singapore and Baku.

Cargolux HanoiLast month IMF managing director Christine Lagarde said China’s continuing retreat from less sophisticated, labor-intensive manufacturing could create major opportunities for its neighbors in the Mekong region including Cambodia, Lao, Myanmar, andVietnam.

Speaking in Hanoi Ms. Lagarde said that in addition to winning market share at the lower end of the value chain, Vietnam has a unique opportunity to sell more final goods, such as cell phones and computers, to Chinese consumers.

However while Vietnam’s exports to China grew almost twice as fast as its total exports last year, China accounted for only a tenth of Vietnam’s overall exports. She noted the “biggest prize” for the country would be the transformative impact of the recently signed Trans-Pacific Partnership (TPP) that could lift Vietnam’s GDP by a cumulative 8.0 percent, and exports by 30 percent, over the next 15 years.

The IMF head said this could be achieved by boosting Vietnam’s exports to key markets, such as the U.S. and Japan, and by encouraging further strong inflows of foreign direct investment.

“More broadly, TPP could provide critical impetus for much-needed economic reforms, especially in state-owned enterprises. Stepping up these reforms will not only allow Vietnam to meet its TPP requirements, but it will be essential for its future prosperity,” she added.

Cargolux has served Vietnam’s largest city since 2007 and its capitol Hanoi since 2013. With the addition of a third weekly frequency to Ho Chi Minh City, the airline said it acknowledged the growing demand for air cargo capacity in an increasingly important market that is rapidly ramping up its trade and manufacturing industries.

More News

Written on 21/02/2018, 16:59
saudia-cargo-eyes-india-market-growthMUMBAI: February 21, 2018. Saudia Cargo executive director Commercial Rainer Muller said his attendance at Air Cargo India in Mumbai this week provided an...
Written on 20/02/2018, 16:14
first-of-four-b777s-delivered-to-ukraine-international-airlinesKIEV: February 20, 2018. Ukraine International Airlines (UIA) has taken delivery of its first B777-200 aircraft from lessor AerCap to replace B767-300s on...
Written on 19/02/2018, 22:11
southwest-to-launch-international-air-cargo-servicesLOVE FIELD, TX: February 19, 2018. Southwest Airlines is to begin international airfreight services in May to Mexico City, Cancun, Cabo San Lucas/Los...
Written on 19/02/2018, 16:40
freightweek-news-update-week-08PARIS: February 21, 2018. The French Interparfums company that owns the Lanvin and Rochas brands and licenses Montblanc, Jimmy Choo, Coach, Boucheron and...
Written on 18/02/2018, 00:45
air-france-klm-keep-a-hand-in-shaping-the-gameAMSTELVEEN/PARIS: February 16, 2018. The Air France KLM Group has reported a 6.8 percent rise in Q4 2017 cargo revenue to €583 million and €2.087 billion...
Written on 16/02/2018, 21:46
swiss-tv-goes-live-in-south-korea-with-natcoZURICH/ PYEONGCHANG, South Korea: February 16, 2018. Project logistics specialist Natco AG, part of the British TransGlobal Group, has delivered all the...
Written on 15/02/2018, 18:15
ryder-opens-u-s-mexico-border-facilityMIAMI: February 14, 2018. Ryder System has opened a 109,000 sq.ft. logistics facility in Laredo, Texas to support cross-border shipments between the U.S....
Written on 15/02/2018, 16:44
miami-airport-gets-ftz-statusMIAMI: February 15, 2018. The U.S. Department of Commerce has designated Miami International Airport's entire 3,230-acre land parcel as a Foreign Trade...
Written on 14/02/2018, 16:57
jd-com-delivery-for-valentine-s-dayBEIJING: February 14, 2018. China retailer JD.com is selling 18.6 percent of its subsidiary JD Logistics for an estimated US$2.5 billion. The investors...
Written on 13/02/2018, 21:22
delta-cargo-adds-gps-tracking-to-equation-express-productATLANTA: February 13, 2018. Delta Cargo has launched 'Equation Critical', a new service with GPS-tracking for next-flight-out international shipments with...
Written on 13/02/2018, 20:14
valentine-s-day-still-a-growing-demandAALSMEER, The Netherlands: February 13, 2018. Valentine's Day, made official by Pope Gelasius in the fifth century to distract Roman Catholics from a more...
Written on 12/02/2018, 21:16
profit-surge-from-e-commerce-for-aramexDUBAI: February 12, 2018. Logistics provider Aramex has reported a nine percent increase in 2017 revenues to AED4.72 billion and a 14 percent year-on-year...
Written on 12/02/2018, 20:34
more-capacity-sharing-for-heavylift-and-project-cargoHAMBURG/ROTTERDAM: February 12, 2018. RollDock and SAL Heavy Lift are to launch a capacity pool for Roll-On/Roll-Off and Float-In/Float-Out project and...
Written on 11/02/2018, 19:37
g-w-invests-in-cargomaticDARIEN, CT: February 08, 2018. Railroad company Genesee & Wyoming has invested in Cargomatic, a technology platform connecting shippers and truck...
Written on 09/02/2018, 16:07
delta-cargo-expands-pharma-4-serviceATLANTA: February 9, 2018. Delta Cargo has added eight new destinations to its Pharma 4 program for temperature-sensitive shipments including Bogota, Hong...
Written on 08/02/2018, 19:20
ups-adds-midday-express-freight-deliveryATLANTA: February 08, 2018. UPS has added a midday service to its Worldwide Express Freight (WEF) product, offering a delivery time of 12 p.m. or 2 p.m....
Written on 08/02/2018, 14:39
evergreen-orders-eight-11-000-teu-containershipsTAIPEI: February 08, 2018. Evergreen Marine Corporation (EMC) has ordered eight 11,000 TEU containerships from Samsung Heavy Industries (SHI) for delivery...
Written on 07/02/2018, 22:05
emirates-skycargo-to-begin-daily-maastricht-flightDUBAI: February 06, 2018. Emirates SkyCargo has added Maastricht to its scheduled freighter network with an initial two B777 freighter flights a week from...
Written on 07/02/2018, 17:19
heavylift-bucket-delivered-to-angolaANTWERP: February 07, 2018. Heavylift and project cargo specialist Manora Logistics has recently completed the delivery of equipment to the mine and iron...
Written on 07/02/2018, 16:21
vallair-orders-10-a321-freighter-conversions-from-efwSINGAPORE: February 07, 2018. Elbe Flugzeugwerke (EFW), the aircraft conversion joint venture of ST Aerospace and Airbus, is to convert 10 A321 passenger...

- powered by Quickchilli.com -