Its Vietnamese subsidiary Militzer & Münch (M&M) Vietnam Co., Ltd. started operations on December 18. The new country unit offers the full range of M&M services, with a special focus on air and sea transport.

The M&M Group is pursuing a growth strategy in Asia, the Far East, and Oceania. Most recently, a new company was founded in New Zealand in 2022.

After M&M China, M&M Malaysia, M&M Sri Lanka, and M&M New Zealand, M&M Vietnam is now the fifth national subsidiary in the region. It is located in Ho Chi Minh City, as the 9 million-strong metropolis is both the economic centre of the country and an important transport hub for Southeast Asia.

M&M focuses on promising markets in the region and considers the location to have great potential for further growth.

“Within a few years, Vietnam has developed from one of the world’s poorest nations to a middle-income country,” said Andreas Löwenstein, regional managing director for Asia and the Far East at Militzer & Münch.

“We therefore see clear opportunities for successful development and are strengthening our network in the region with the new country unit.”

M&M Vietnam will serve many different industries with imports and exports. A large part of the transport volume will be shipped by sea and air. Peter Schüpbach, who previously held various management positions, is heading the new subsidiary.

According to Mordor Intelligence, Vietnam's freight and logistics market size is estimated at $45.19 billion in 2023, and is expected to reach $65.34 billion by 2029, growing at a compound annual growth rate of 6.34 per cent during the 2023-2029 period.

A logistics report published by VinaCapital in mid-2023 named Vietnam as having one of the fastest-growing logistics sectors in the world, with an annual growth rate of 14-16 per cent. The sector is expected to continue to grow for years to come, driven by the continued growth of the manufacturing sector, middle-class consumers, e-commerce, and the demand for perishable food and other products.