Maersk is Looking to Profit from Vietnam's Growth

Denmark's biggest shipping company has announced some ambitious plans to grow in Vietnam.

Maersk Line Vietnam, a subsidiary of Denmark’s A.P. Moller-Maersk Group, is now hoping for growth rates exceeding no less than 200 pct in its container line business by 2010 and 100 pct in its logistics business, general director Paul Hoogwaerts has announced.
     Vietnam's entry into the WTO has further boosted the Danish company's confidence of achieving these targets, Hoogwaerts reportedly told local Vietnamese media this week. Maersk Line Vietnam has opened two new offices recently, one in the central Quy Nhon city and another in Danang. That now brings the amount of the company's total office representations in Vietnam to five. In addition, the Danish company is looking to build nine more warehouses by 2010 and a 40,000 sq.m freight station.
     Maersk A/S, another member of the Danish group, got approval earlier this month to set up a 49:51 joint venture with the Ho Chi Minh City-based Saigon Port to develop a container terminal in the port complex in Ba Ria–Vung Tau, which is south of Ho Chi Minh City.