Singapore, November 1, 2023 – FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, is further enhancing its intercontinental services between Vietnam and Singapore as well as other markets in Asia, Middle East, Africa (AMEA) and Europe, with the introduction of a new flight offering faster transit times.
Effective October 31, 2023, the new flight will use a dedicated B767 freighter flying four evenings a week from Ho Chi Minh City connecting Asia and Europe through the FedEx Asia Pacific Hub in Guangzhou, China. Exporters shipping from Southern Vietnam will benefit from faster transit times for shipments to Singapore and major Asian markets in just one business day, and two business days to Europe*.
These new flights offer additional capacity on top of the current five flights to Asia, Europe, and the US -- four daily morning flights through the FedEx South Pacific Hub in Singapore and one current evening flight through the Asia Pacific Hub. With a total of nine weekly flights departing from Ho Chi Minh City, FedEx continues to support businesses in tapping the huge growth potential in the region.
Southeast Asia’s manufacturing hubs are growing and diversifying to include increasingly higher-value goods and services. Multilateral free trade agreements like CPTPP and RCEP[1] are creating close-knit ties that are helping to make the region an increasingly important trading partner. The relationship between Vietnam and Singapore has become increasingly significant, especially given Southeast Asia’s prominence in the global economy. In 2022, bilateral trade between the two countries reached USD 31.3 billion[2] with Singapore becoming Vietnam’s second-largest cumulative foreign investor, with investments totalling USD 70.8 billion[3].
“We continue to transform our air network to offer differentiated service for our customers and that includes building capacity and creating faster connections to meet demand,” said Kawal Preet, president of Asia Pacific, Middle East, and Africa region, FedEx Express. “The Tiger Economies of Southeast Asia continue to grow at an accelerated pace, with a forecast of 4.9% growth in 2024.[4] What we see happening in Vietnam is a great example of these regional trends. Our enhanced service in Vietnam is part of our journey to build a more flexible, efficient, and intelligent network and deliver an outstanding customer experience.”
“The service improvement will bring numerous benefits to Singapore and Vietnam, reinforcing the successful trade history between the two nations. FedEx is committed to fostering a strong and enduring interconnectedness between both countries by facilitating greater cross-border trade for businesses in both markets,” said Eric Tan, managing director of FedEx Express Singapore. “We are excited about the opportunities these new flights will create for our customers looking to expand.”
FedEx has been supporting cross-border trade to and from Vietnam since it established operations in the country in 1994. With the new flight, local businesses serving international customers may gain a competitive edge with expedited delivery times. This latest announcement underscores the company’s dedication to improving services in Vietnam and strengthening operations across the AMEA region.
[1] Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Regional Comprehensive Economic Partnership (RCEP)
* Transit times may vary depending on specific origin and destination postal codes.
[2] Singapore and Vietnam sign 12 MOUs in show of strong ties
[3] Stronger Vietnam - Singapore economic ties expected with Prime Minister’s visit
[4] Asian Development Bank, Outlook July 2023.