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All four companies will contribute in the following areas:
a) YCH Group will be in charge of the operations of bases in Vietnam, Laos and other ASEAN countries, as well as trade goods collection and distribution in China.
b) Chongqing ASEAN International Logistics Co., Ltd will be in charge of ASEAN logistics in Western China provinces, ASEAN trade in goods collection and distribution, and Chongqing ASEAN Highway shuttle operations.
c) Chongqing Banan District Government will be in charge of coordinating with port offices, customs, quarantine and other government departments that support policies at all levels.
d) Y3 Technologies will be in charge of providing platform solutions, including a platform and road logistics information platform for planning, design,development and build. They will also oversee IT outsourcing business to provide IT infrastructure, platform operations, projects and other related IT consulting services.
The MoU is aimed at establishing Chongqing as ASEAN’s logistics hub in China. This is the third collaboration between Singapore and China and comes in light of the two countries commemorating 25 years of diplomatic relations in 2015 as well as the launch of the Chongqing Connectivity Initiative (CCI), during President Xi's state visit to Singapore in 2015, with logistics being one of the key focus areas.
Kwek Hwai Wee, General Manager of YCH West China Region, shared that this initiative demonstrates YCH Group's commitment to promoting in-depth cooperation between Chongqing and the ASEAN region, as well as the corporate governance and rapid development of the southwest market.
Marc Dragon, Deputy CEO of Y3 Technologies said Y3 strongly believes that technology will enhance collaboration, bringing about greater efficiency, accuracy and optimization of supply chain and logistics services between China and ASEAN.
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