Hitachi Transport to launch logistics business in Vietnam

ME - Hitachi Transport System Ltd plans to enter the logistics business in Vietnam as it looks to capitalize on rising consumer spending in the country, the Nikkei business daily reported.

The company, a unit of electronics maker Hitachi, will on Jan. 1 launch a third-party logistics business through a joint venture set up in November with a local consulting firm, the paper said.

The joint venture will mainly handle subcontracted logistics work from Japanese companies with operations in Vietnam and import-export freight forwarding, the Nikkei reported.

Hitachi Transport, which opened an office in Vietnam in 2006 to explore opportunities for local business, is targeting 400 million yen in annual sales from the Vietnamese logistics business by 2014, the paper said.