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Geographic expansion
Flexport boosts investment in Vietnam amid manufacturing growth
Supply Chain Tech
Jun 7, 2024
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Supply Chain Tech

Supply Chain Tech

Jun 7, 2024

Flexport boosts investment in Vietnam amid manufacturing growth

Geographic expansion

  • Flexport is expanding its investments in Vietnam. The company, valued at approximately USD 8 billion, recently commenced operations through a local subsidiary.

  • Flexport's expansion into Vietnam targets the steady shift of global businesses from China to Vietnam. Vietnam's booming economy—estimated to grow by 5%–6% this year—demonstrates promising prospects for the logistics industry. 

  • Flexport had been providing logistic services to over 1,300 factories within Vietnam before the expansion.

  • Analyst QuickTake: Earlier this month, Flexport expanded its Convoy Platform to improve brokers' access to carriers, simplify freight processes, and reduce operational costs for carriers and brokers. This would also complement the company's expansion efforts.

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