DHL to invest €350m in Southeast Asia

DHL Supply Chain, a logistics subsidiary of Germany's Deutsche Post, is planning to invest €350 million ($369,5 million) in Southeast Asia over the next five years, it announced on Tuesday, reported dpa.

The aim is to expand its warehousing capacity, workforce and sustainability initiatives.

With this, DHL Supply Chain plans to increase its current 1.6 million square metres of warehouse space in Southeast Asia by 25&%, or 400,000 square metres.

In addition, DHL Supply Chain said it aims to create over 3,000 jobs across the region by 2024.

Oscar de Bok, the head of DHL Supply Chain, spoke of an "incredible opportunity" for businesses in Southeast Asia to to strengthen their supply chain resiliency, citing the "efficient work environment and effective trade agreements," such as a free trade deal between China and the ASEAN countries.

The investment serves as part of a series of strategic investments by DHL Supply Chain over the past year, already adding up to €1.35 billion globally.

The investments will focus on supply chain infrastructure, staff hiring and development, as well as automation, digitalization and sustainability in India, Latin America, and Southeast Asia.