Jakarta. Indonesian digital freight forwarder Andalin has recently signed a memorandum of understanding (MoU) with Becamex IDC Corp, a leading industrial developer in Vietnam, to boost trade in several commodities between the two countries.
With over 30 years of experience in industrial and urban infrastructure development in the Southern Key Economics Zones in Vietnam, Becamex IDC comprises 612 companies and has been named among the top 50 listed companies in 2021 by Forbes Vietnam.
Using its trading platforms, Andalin allows manufacturers and distributors in different countries to buy and sell from each other, supported by online transaction capability, integrated logistics, financial services, and trade services. Andalin's technology aims to solve the international trade issue with a presence in 200 global ports and 200 service partners worldwide.
"We started Andalin with the vision of simplifying Indonesia's international trade by integrating its highly fragmented services ranging from logistics, finance, and other trade services into one platform. Indonesia's export-import value grew from around $300 billion in 2020 to $430 billion in 2021, a remarkable growth, especially during the pandemic," Andalin's Co-Founder & CEO Rifki Pratomo said.
Indonesian Trade Attache to Vietnam Iqbal Djamil reaffirmed that the two parties are vital partners in the fields of logistics technology and infrastructure development. Vietnam is Indonesia's fourth-largest economic partner in Asean and its ninth-largest export market. The two countries currently account for about 60 percent of Asean's population and 45 percent of the total GDP of Asean.
From February 2021 to December 2021, Andalin saw a 690 percent growth in monthly revenue and a 10.6 times increase in the total number of containers shipped. The Indonesian freight and logistics market was valued at $81.30 billion in 2020 and is expected to reach $138.04 billion by 2026, according to market research firm Reportlinker.