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JOIN Supports the Brown-field Port & Logistic Projects in Socialist Republic of Vietnam

Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (“JOIN”, headquartered in Tokyo, President & CEO: Takuma Hatano) has completed procedures for acquisition of a part of existing shares of major ports & logistics company - GEMADEPT CORPORATION (“GMD”) - on July 8, 2019 to invest in the brown-field Vietnam port and logistic projects in Socialist Republic of Vietnam (“Vietnam”) through a local entity which was established jointly with Sumitomo Corporation (“Sumitomo”, headquartered in Tokyo, President & CEO: Masayuki Hyodo) and Suzuyo & Co.,Ltd. (“Suzuyo”, headquartered in Shizuoka City, President: Kenichiro Suzuki ). JOIN’s investment is approximately JPY 2.2 billion and was made following the approval from the Minister of Land, Infrastructure, Transport and Tourism on May 29, 2019.
 
GMD is a leading private company in Vietnam, which operates several ports and logistics companies. In the business field of port operation, GMD operates seven ports and, storage service, tracking service, shipping service and air cargo service in the business field of logistics operation in Vietnam.
 
On the back of Vietnam’s rapid economic growth which led to the expansion of consumer market and consequently the increase of logistics demand, the growth of freight handling volume is expected to exceed GDP growth rate in the future.
 
Through this investment, JOIN will support the cooperation between the logistics developed by Sumitomo and Suzuyo based in local industrial parks and the ports and logistics operated by GMD.  JOIN will also work together with Sumitomo and Suzuyo to reinforce their deep insights gained through their years of experience in the domestic market in the field of logistics and ports terminal management to GMD.  In addition, JOIN will support Japanese companies’ entry into the overseas ports and logistics business and promote their overseas development while contribute to the streamlining and economic development of the country as part of the effort to develop high-quality infrastructure overseas.
 

JOIN Supports the Brown-field Port & Logistic Projects in Socialist Republic of Vietnam