Vailog, Italy's largest logistics and warehousing provider, is set to open a logistics park - with an investment of 80 million dollars and a planned area of 170,000 square meters - in Chongqing's Liangjiang New Area.

Vailog is the largest logistics enterprise in Europe, and it deals with almost all the international fashion brands in France and Italy.

The move will likely allow residents of Chongqing to buy a wider range of international high-end brands - including Gucci, Prada, and Louis Vuitton - at much lower prices compared to other areas around the country.

The first phase will start operation in the second quarter of next year.

Vailog's CEO, Eric Veron, said that it is expected to be the company's largest individual investment project in China and it will conform to advanced European standards.

The Liangjiang New Area plans to build an economic center that will serve as a sort of pioneer city regarding China's opening up to European markets.

Companies such as AMB Logistics, from the US, and Australia's Goodman Logistics are also expected to open parks in the new area, and Liangjiang's management committee is also set to start the construction of two other logistics parks "quite soon."