Vinacontrol and the World Logistics Passport (WLP) organization have signed a cooperation agreement

On August 14, 2023, Vinacontrol Corporation and the World Logistics Passport (WLP) organization signed a cooperation agreement in Hanoi to implement the World Logistics Passport (WLP) program in Vietnam. The World Logistics Passport (WLP) is a global initiative by the United Arab Emirates (UAE) government aimed at facilitating global trade flows. As of now, 29 countries have registered to participate in the WLP network, and Vietnam has been added to the list of logistics and trade centers in the region, referred to as a Hub.

Mr. Mai Tien Dung - CEO of Vinacontrol Corporation (on the right) signing the Cooperation Agreement with a representative from the World Logistics Passport (WLP) organization.

The World Logistics Passport (WLP) highly regards Vinacontrol Group as a leading organization in Vietnam's inspection, testing, certification, and quality assessment field, playing a pivotal role in promoting business and trade development in the country. Therefore, the cooperation agreement with Vinacontrol is a crucial link to boost Vietnam's exports to the Middle East and global markets, aiming to soon establish Vietnam as a significant global logistics and trade center.

Currently, the UAE is Vietnam's largest export market in the Middle East, and Vietnam ranks among the top 10 largest import partners of the UAE. In the period from 2018 to 2022 alone, the trade exchange between the two countries has maintained stability at around $5 billion annually, accounting for about 25% of the total trade volume between Vietnam and the Middle East. By participating in initiatives and effectively cooperating with the UAE in the logistics sector, Vietnamese goods have the opportunity to expand their exports to the UAE and other countries in the Middle East and around the world.

Mr. Tran Quang Huy - Head of the Asia-Africa Market Department (Ministry of Industry and Trade) delivered a speech at the event.

Accordingly, Vietnamese enterprises' products and goods with the WLP passport will receive tax exemptions and reductions at certain ports in the UAE, thereby saving warehousing costs and ensuring smooth flow of goods from origin to destination. This presents an opportunity for Vietnamese businesses and organizations to expand their business activities, contribute to cost reduction, enhance the competitiveness of Vietnam's import and export goods and services, and aim to become a global hub for trade and logistics.

The signing ceremony was held within the framework of the Forum "World Logistics Passport Initiative and Exploring the Potential for Logistics Cooperation between Vietnam and the United Arab Emirates (UAE)," organized by the World Logistics Passport Program in collaboration with the Ministry of Industry and Trade and the Embassy of the United Arab Emirates on the occasion of the 30th anniversary of diplomatic relations establishment between Vietnam and the UAE.