HANOI (AFX) - The Vietnamese government has given the green light for Deutsche Post unit DHL to establish a joint venture with a local delivery company, an official said.
The government 'agreed in principle for DHL to set up an express delivery service joint-venture with the Vietnam Post and Telecommunications Group (VNPT),' an official from the planning and investment ministry told Agence France-Presse.
DHL will hold 51 pct of the company's shares while the rest will be held by VNPT, the official said, adding that the 5.5 mln usd venture is scheduled to operate next year in eight cities and provinces.
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