ALPHA Augmented Services AG: Alpha Augmented Services AG sets up joint venture in Vietnam and strengthens presence in the growth market Asia

Alpha Augmented Services AG sets up joint venture in Vietnam and strengthens presence in the growth market Asia

• Joint Venture Alpha Augmented Services Company Limited with experienced regional partner Logchain Holdings Corporation
• New company to be based in Ho Chi Minh City
• Vietnam as a dynamically growing hub for international goods traffic in Asia creates further growth opportunities

Zug (Switzerland), 24 May 2023. Alpha Augmented Services AG (Alpha Augmented Services), an innovation leader in software-based transport optimisation, sets up a joint venture in Vietnam and significantly expands its international presence by establishing a base in the Asian market. With Logchain Holdings Corporation as an experienced regional partner, Alpha Augmented Services Company Ltd. with headquarters in Ho Chi Minh City was founded. In the first step, the new company with five local employees will serve customers in Asia and offer the SaaS solution from Alpha Augmented Services for transport optimisation. Bekka Nguyen, who has more than 15 years of experience in operations, logistics and in supply chain industry serves as managing director. Logchain Holdings Corporation is an ideal JV partner. As an established business enabler, the company has a strong local team, a distinctive network and comprehensive know-how in the areas of transport, logistics, supply chains and digitalisation.

The joint venture with the expansion of the presence in Vietnam has great strategic importance for the further international expansion of Alpha Augmented Services. The company is thus positioning itself in one of the fastest-growing markets in Asia and one of the most important hubs for the global traffic of goods. Vietnam has developed excellently in recent years. With average gross domestic product (GDP) growth rates of five to eight percent over the past decades, Vietnam is one of the fastest-growing industrial and service locations in the world. As a result, numerous global technology companies such as Apple, Xiaomi, Samsung, BYD or LG have made extensive investments in Vietnam in recent years, turning the country into one of the most important high-tech production locations for Asia and the global market. With the ongoing development of the country's most important seaports, such as the Cat Lai city port in Ho Chi Minh City (South Vietnam) and the Cai Mep-Thi Vai port cluster in Ba Ria-Vung Tau province, Vietnam is visibly developing into one of the central transhipment hubs between Asia and the USA and Europe.

The SaaS software solution from Alpha Augmented Services continuously optimises the individual ordering and transport process and the dispatch handling along the entire supply chain by means of a self-developed algorithm and the integration of Artificial Intelligence. In this way, customers can achieve cost savings of more than 20 percent and reduce the CO2 emissions of their transport processes by up to 20 percent and more. The solution from Alpha Augmented Services can be easily integrated into existing processes and is implemented and ready for use at the customer's site within a few weeks.

Massimo Rossetti, CEO and Co-Founder of Alpha Augmented Services: "I am very excited to have signed a contract with our JV partner Logchain Holdings Corporation in Vietnam. We are confident that this team of motivated and highly skilled supply chain and technical people will support our growth. We are currently seeing global players moving into Vietnam and making significant investments in manufacturing facilities. Our entry into Vietnam therefore comes at exactly the right point in time. Vietnam, with its booming economy and growing relevance to global trade, is the ideal business hub for us to cover the entire Asian market and showcase CO2-reducing and cost-cutting technology to local industries."

Louis Vu, CEO of Logchain Holdings Corporation: "I am delighted to enter into this partnership with Alpha Augmented Services. New technologies and digital solutions which leverage economic potential with environmental responsibility are in high demand - in Vietnam, Asia and globally. Alpha Augmented Services can make an important contribution to this, which we want to use together even more strongly for Asian customers and production sites. Rapid cost reductions with immediate CO2 savings are important levers for combining ecology and economy in a meaningful and sustainable manner.”

Further information on Alpha Augmented Services can be found under: www.alphaaugmented.com

Alpha Augmented Services AG
Grabenstrasse 25,
6340 Baar/Zug
Switzerland

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