Exporters, Bank Plan to Build Bonded Warehouse in United States

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Dec. 7 – State-owned Vietnam Development Bank and local exporters are considering plans to build a bonded warehouse in the United States for exports reports Thanh Nien News.

This would aid local exporters cut storage costs and make more good readily available in the market. Vietnam Development Bank General Director Nguyen Quang Dung told Vietnam Net that they are seeking government approval for their plan although they could face many funding and procedural obstacles.

Vietnam counts itself as one of the 30 exporters to the U.S. market. Previously, exporters proposed a similar warehouse for the EU market in 2007 but the plan never pushed through.