Hyundai Merchant Mariner (HMM) are expanding their services and presence in the Lao People’s Democratic Republic (Laos) with the establishment of a 7,000 sqm container yard in Tha Na Laeng, Vientiane City.
This business expansion is significant, as it makes HMM the first ocean carrier to establish a container yard service in Laos. This new service will allow HMM’s customers the ability to receive and return their empty containers at this container yard which leads to a reduction in costs and a better overall transportation time.
Tha Na Laeng area is connected to the first Thai–Lao Friendship Bridge (Nong Khai – Vientiane) and is a main pathway to Vientiane City. This new container yard will become a landmark for exporters and importers who are operating around the capital city of Laos.
In addition to this expansion, HMM also completed a Memorandum of Understanding (MOU) with PK Inter Freight, a Thai lineage cross border transportation service provider who are also based in Laos.
“Business is growing rapidly in Laos. The Government is opening their doors to foreign investors who are helping to grow the economy of country even further. However, given that Laos is a landlocked country, the cost of ocean freight is normally higher than average when compared to surrounding countries, which is a challenge to Laos-based businesses,” said Dr. Sumet Kheawngamdee, General Manager of Hyundai Merchant Marine (Thailand) Co., Ltd.
Continuing his explanation of HMM’s expansion, Mr. Kheawngamdee said, “Our study found that land transportation is main contributor to the higher than average cargo transportation costs here. Our expansion offers convenient and lower cost to businesses in Laos. This expansion also emphasises our efforts to improve our varied and quality services as an answer to ever growing demands of our customer base.”