Cargolux will expand its freighter services to Vietnam with a second weekly flight to Ho Chi Minh City and a fourth frequency to Hanoi.
Cargolux has served the Vietnam market since 2007, and the European freighter operator says that its customers forecast “substantial increases” in volumes for next year. Cargolux also sees an increase in electronic shipments as Vietnam boosts its exports by air.
Samsung, the biggest investor in northern Vietnam, is building up its Vietnamese production of LCD monitors during the first quarter of 2015 in Ho Chi Minh City. Samsung has operated factories in the Bac Ninh province since 2009 and at Thai Nguyen since 2013.
Microsoft has, after it acquired Nokia, transferred production lines from a number of countries to Vietnam and will operate 39 production lines of smart phones in that country by 2015 with an estimated export volume of up to 50,000 tonnes annually.
LG Electronics is investing $1.5bn in a new production facility for smart phones at Hai Phong City. The company already manufactures electronic goods such as televisions, refrigerators and air conditioning units in Vietnam.
Cargolux states: “Approximately 48% of all exports from Hanoi are destined for Europe and the US, while 33% go to Asian destinations.Ho Chi Minh City exports 50.5% to Europe and the US."
The Vietnam Transport Ministry expects air cargo shipments to grow by up to 23% in 2014, while industry experts say the country's exports will be about 80% of its gross domestic product this year, after total exports rose 13.4% from a year earlier to $123bn in the 10 months through October 2014."
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