The Vietnam Postal Express Delivery Joint Stock Company will become a Vietnamese official agent of FedEx, the world leading firm in the field, under a three-year contract signed by the two sides in Hanoi on August 21.

The Vietnamese company now accounts for 80 percent of Vietnam’s express delivery service market. Meanwhile, FedEx has a wide service system extended to more than 215 countries with 640 cargo aircraft, and 43,000 cargo lorries. The firm’s carriers fly to Vietnam 5 times a week.

FedEx has been operational in Vietnam since 1994 under a contract signed with the Vietnam Posts and Telecommunications Group.