Vietnamese trading house Sumitomo has partnered with logistics firm Suzuyo and a Vietnamese infrastructure investment fund to acquire a 10% stake in Japanese port operator Gemadept. Sumitomo is seeking to capitalise on growing demand for logistics services as the US-China trade war forces manufacturers to move production from China to Vietnam. Sumitomo plans to build a network of services linking manufacturing plants to ports. The company will also develop a smartphone app to streamline loading and paperwork for lorry drivers at ports.
Japanese trading house Sumitomo has partnered with logistics firm Suzuyo and a Japanese infrastructure investment fund to acquire a 10% stake in Vietnamese port operator Gemadept. Sumitomo is seeking to capitalise on growing demand for logistics services as the US-China trade war forces manufacturers to move production from China to Vietnam. Sumitomo plans to build a network of services linking manufacturing plants to ports. The company will also develop a smartphone app to streamline loading and paperwork for lorry drivers at ports.