FREMONT, CA: On August 29, BEST Inc. conducted an opening ceremony in North Jakarta, Indonesia, to mark the formal debut of cross-border supply chain services and full-scenario, full-link SaaS solution services in Indonesia. Following investments in Thailand, Vietnam, Malaysia, Singapore, and the Philippines, BEST enters another major market in Southeast Asia, marking a significant step in the company's strategic plan. BEST Inc., a leading provider of smart supply chain and logistics services in China and Southeast Asia, has over 20,000 service outlets and 400 cloud warehouses and manages over 3 million square meters of warehouse space in China, providing high-quality, comprehensive supply chain services to over 3,000 well-known companies and millions of small and medium-sized enterprises.
BEST Inc. opened its first branch in the United States in 2015, marking the beginning of its international expansion. BEST has regarded Southeast Asia as its most important overseas market since 2019 and has built a logistics network that covers the entire territory of Thailand, Vietnam, Malaysia, Singapore, and other countries, including last-mile express delivery, express transportation services, cloud warehouses, and software services. According to the annual report data, BEST's global service revenue in 2023 was RMB 947 million (USD 133 million), with a parcel volume of around 140 million pieces in Southeast Asia, representing a 14.6 percent growth year on year. BEST's long-term development of localized operations abroad has resulted in a constant increase in worldwide service revenue, unanimity and high customer recognition, and robust logistics support for the rapid expansion of Southeast Asia's local economy.
Indonesia is an essential component of BEST's strategic market in Southeast Asia. As Southeast Asia's largest economy, this "country of a thousand islands" boasts a sizable young population and a highly promising consumer market. The latest World Bank assessment of Indonesia predicts that the country's economy will rise steadily over the next two years. Indonesia's GDP is anticipated to increase by 5% in 2024, then by 5.1% in 2025 and 2026. Indonesia's economy is steadily growing, and it is becoming an important part of global economic development.
