VIETNAM. On the first day of The Trinity Forum 2024, Imex Pan Pacific Group (IPPG) and China Duty Free Group (CDFG) signed a Memorandum of Understanding (MOU) to create a strategic partnership between the respective companies.
The MOU was signed yesterday (5 November) by VIPs from both companies and witnessed by guests including Martin Moodie and Dermot Davitt from The Moodie Davitt Report.
CDFG and IPPG will jointly operate duty-free stores in strategic locations throughout Vietnam, including airports and key tourist destinations. IPPG will provide essential local support, such as logistics and facilitating necessary approvals, to ensure the seamless operation and management of the collaboration.
To enhance customer experience and drive sales, the two companies will implement a comprehensive marketing strategy in partnership with hotels, banks and digital platforms.
“The MOU represents a significant step forward in promoting mutual growth and exploring new business opportunities in the duty-free and tourism markets,” commented CDFG Deputy Manager Zhao Feng.
IPPG Vice President Business Development and IPP Travel Retail CEO Phillip Nguyen added: “The partnership between IPPG and CDFG has opened up numerous opportunities for bilateral tourism and trade development between China and Vietnam.
“With CDFG’s world-leading duty-free store network and IPPG’s distribution capabilities in Vietnam, we hope both sides will enhance the exchange and development of Chinese and Vietnamese goods of both countries. This collaboration is expected to bring about significant breakthroughs in the growth of bilateral tourism and trade between Vietnam and China.”
The two companies will jointly explore new ventures in travel retail and tourism as part of their business development efforts. Joint projects and investments will enhance service offerings and customer experience, using integrated marketing and loyalty programmes to attract and retain customers.
The strategic alliance between the two companies will promote the development of economic and trade relations between China and Vietnam, and will also pave the way for the growth and development of CDFG and IPPG, contributing to the cultural and economic ties between the two countries in the years ahead.
Top executives from both companies were invited onstage for the signing ceremony. These included CDFG Assistant General Manager Michelle Sun; CDFG Deputy General Manager and China Duty Free International Director/General Manager Zhao Feng; China Tourism Group Strategic Development Department General Manager Lei Haisu; Acting Consulate General of China in Ho Chi Minh City Xu Zhou; IPPG Founder & Chairman Jonathan Hanh Nguyen; Airports Corporation of Vietnam Deputy General Director Nguyen Duc Hung; IPPG Vice President Business Development and IPP Travel Retail CEO Phillip Nguyen and Hainan Assembly Hall Merchant Association President Lâm Minh Huy.
The Trinity Forum is the world’s leading airport commercial revenues event. It is owned by The Moodie Davitt Report and organised in partnership with Airports Council International (ACI) Asia-Pacific & Middle East and ACI World.
It is being co-hosted by Airports Corporation of Vietnam and IPP Group (IPPG). Click here for our live coverage. ✈
