📌Weekly Logistics Highlights:

  Hong Kong, China

🔹PayCargo has strategically selects Hong Kong as its gateway to Asia:

PayCargo, backed by Blackstone, strategically selects Hong Kong as its gateway to the Asian market, leveraging the city's status as the largest air cargo hub in the region. By partnering with Autotoll International, PayCargo aims to provide streamlined payment solutions for the logistics sector, beginning with Cathay Cargo Terminal. This decision aligns with Hong Kong's vision to enhance digitalization and implement smart logistics advancements as part of its plan to establish itself as a prominent international maritime center.

  Shenzhen, China

🔹Shenzhen Neptune Logistics set up a new transport hub in Uzbekistan

Shenzhen Neptune Logistics, a Chinese logistics company, has announced its commitment to contribute approximately fifteen million dollars towards the construction of a transport hub in Uzbekistan. This follows the footsteps of German company Rhenus, which had previously expressed similar intentions. These foreign investments signify the growing interest in developing transportation infrastructure in Uzbekistan.

 Guangzhou, China

🔹Jiacheng Unveils Ambitious Plans for a State-of-the-Art Warehousing and Logistics Center to Cater to a Prominent E-Retailer's Growing Demands in the Fast Fashion and Makeup Industry

Jiacheng, a company based in southern China, has announced plans to establish a massive warehousing and logistics center spanning approximately 70,000 square meters. This facility will be dedicated to serving a renowned e-retailer and is expected to be operational within the next two years. With a capacity to handle between 700,000 and one million orders daily, supported by a fleet of 200 delivery vans, the hub will primarily focus on processing fast fashion and makeup products for air freight shipment to the European and US markets.

 Shanghai, China

🔹The logistics related Expo- 32nd East China Fair 2024

The highly anticipated 32nd East China Fair 2024 is launched at the Shanghai New International Expo Center. With over 3,400 exhibitors, this trade fair serves as a prominent platform for the textile, garment, and light industries. Spanning an impressive 126,500 square meters, the exhibition space has expanded by 21,300 square meters compared to the previous session. In addition to the traditional industries, cross-border e-commerce service providers, including logistics firms and digital retail sites, will showcase their latest offerings, reflecting the evolving landscape of the market.

 Tianjin, China

🔹Shijiazhuang Takes Steps to Become a Key Hub for China-Europe Freight Train

Shijiazhuang, capital of China's northern Hebei province, is making efforts to build a hub for the China-Europe freight train in the Beijing-Tianjin-Hebei region to support the region's development. With the establishment of the international land port in Shijiazhuang, the company has now turned to the China-Europe freight train service, which saves more than 2 million yuan ($277,800) in logistics services

 Qingdao, China

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 Vietnam

🔹Joint Venture Expands Business in ASEAN and East Asia with New Commercial Facility Project, Leveraging Daiwa House and WHA's Expertise in Logistics Facility Development and Industrial Park Development in Vietnam

In March 2023, the joint venture company also developed another commercial facility project on Bangna-Trad Road km.23.To further expand the business field in ASEAN and East Asia region, with Daiwa House’s resources in developing logistic facilities in Southern Vietnam and the industrial park development record of WHA in Vietnam. By combining the management resources of both companies from knowledge and networks related to the development of logistics facilities, design, construction and building management and operation, the new joint venture company aims to create a business that attracts companies from around the world that are considering logistics facilities.

🔹Minister of Transport Urges Swift Resolution of Land Issues to Ensure Timely Completion of North-South Eastern Expressway, with Potential for Early Delivery

Minister of Transport Nguyen Van Thang recently conducted an inspection of the North-South Eastern Expressway construction project and emphasized the need for Binh Dinh province to promptly address any outstanding land-related issues. The relocation of technical infrastructure has made significant progress, with only minor challenges remaining. The Minister commended the efforts made by Binh Dinh province and urged them to prioritize the resolution of the remaining site problems to ensure the timely completion of the project. If these issues are swiftly resolved, there is a possibility that the project could be finished three months ahead of schedule.

 South Korea

🔹Electronics and LS Electric Forge Strategic Alliance to Lead the Smart Factory Industry and Expand Global Presence through Technological Innovation and Collaborative Solutions

Electronics and LS Electric have joined forces in a strategic alliance to strengthen their position as leaders in the smart factory industry and expand their presence in international markets. By combining their technological prowess, the companies will focus on advancing the smart factory sector through digital solutions, automation, and energy efficiency. This alliance will foster collaboration in promoting innovation, delivering competitive software and hardware solutions, and implementing targeted promotional initiatives on a global scale. Building on their collaborative efforts since 2019, the companies have been working together to drive production innovation and enhance product quality.

🔹T'way Air Anticipates Significant Growth Opportunities as European Routes Open Up

S.Korea's T'way Air sees' golden opportunity from EU routes. T'way is expected to grow 30-40% this year with the start of the European routes from the merger of Korean Air-Asiana

 America

🔹Airspace Technologies Secures $100 Million Funding to Revolutionize Time-Sensitive Cargo Transportation with Real-Time Tracking and Cloud-Based Software System

Airspace Technologies, a U.S. logistics startup that specializes in transporting time-sensitive cargo, raised $100 million in funding, uses a combination of sensors placed on packages and a cloud-based software system to show where packages are in real time as they are picked up by contract drivers, put on planes and then picked up again for delivery. 

 Bangladesh

🔹Unlocking Bangladesh's Trade Potential: Addressing Barriers and Expanding South Asian Market Access

Bangladesh's trade potential with South Asia remains untapped due to limited trade facilitation and non-tariff barriers, according to a study by the Centre for Policy Dialogue. To diversify exports, the study suggests focusing on existing products and venturing into technology-intensive sectors. Efforts to enhance infrastructure and connectivity, including the development of the Matarbari deep-sea port, are underway. Challenges such as poor road conditions and complex legal and tax systems need to be addressed for smoother trade operations.

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