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The MOU is expected to open up opportunities for business development and paving the way for KIM LONG's commercial vehicle lineup to expand its presence in Costa Rica and across Central America.
The event marks an important milestone in KIM LONG MOTOR's international market expansion journey, while providing momentum to strengthen the position and enhance the value of Vietnamese brands on the global automotive industry map.
The signing ceremony took place in the presence of Ambassador of Costa Rica to Singapore cum Viet Nam Victor Hugo Rojas Gonzalez.
VERTEX R.L. operates in the vehicle trading and distribution sector in Costa Rica. The company has developed an extensive distribution network across Costa Rica and other Central American countries. VERTEX R.L. currently offers a diverse range of commercial vehicles, passenger vehicles, and minibuses from reputable international brands.
Under the agreement, KIM LONG MOTOR and VERTEX R.L. have agreed to establish a comprehensive cooperation framework to maximize market potential. VERTEX R.L. will proactively conduct market research, assess market conditions, and identify suitable business development opportunities. Meanwhile, KIM LONG MOTOR will work with its partner to provide the necessary technical specifications, product documentation, and commercial pricing information to support the evaluation process and the development of a cooperation strategy.
With its in-depth expertise in transportation services across Central America, VERTEX R.L. is a promising partner to help KIM LONG MOTOR understand local market characteristics, customer needs, and business opportunities in the region.
The combination of KIM LONG MOTOR's manufacturing capabilities and VERTEX R.L.'s market experience is expected to provide a foundation for both parties to identify cooperation opportunities suited to actual market conditions.
Based on the findings of their research and discussions, the two parties will continue negotiations on the potential appointment of VERTEX R.L. as a distributor of KIM LONG MOTOR in mutually agreed territories in the future.
Addressing the ceremony, General Director of KIM LONG MOTOR Dao Viet Anh emphasized, the MoU represents an important step forward in KIM LONG MOTOR's export market expansion strategy.
"With comprehensive manufacturing capabilities, we aim to bring Vietnamese-branded products to a broader international customer base", he noted.
He expressed his belief that VERTEX R.L.'s understanding of the market and extensive experience in the transportation sector will provide a solid foundation for both parties to effectively capitalize on business opportunities and gradually establish and develop a distribution network for KIM LONG commercial vehicles in Costa Rica and throughout Central America in the future.
On behalf of the partner, Chairman of the Board of Directors of Vertex R.L. Self-Managed Transportation Services Cooperative Avelino Salvador Fallas Monge expressed his appreciation for the opportunity to cooperate with KIM LONG MOTOR, one of Vietnam's leading automotive manufacturers and businesses.
This partnership is expected to bring high-quality transportation solutions to customers in Costa Rica and Central America, meeting the growing demand for sustainable development. VERTEX R.L. will leverage its strong understanding of the local market to work with KIM LONG MOTOR in assessing actual demand and effectively tapping into business potential, providing a solid foundation for tangible commercial progress and pave the way for a long-term strategic relationship between the two organizations, he stated.
Previously, KIM LONG MOTOR had established a strong presence through commercial activities and exports to markets including South Korea, Thailand, and the Philippines.
This partnership lays the groundwork for gradually realizing business opportunities in Costa Rica and neighboring Central American countries, including Panama, El Salvador, Guatemala, Honduras, and Nicaragua.
Through these efforts, KIM LONG MOTOR continues to reaffirm its ambition to take Vietnamese-made automotive products to the global stage./.
