Enhancing the competitiveness of logistics activities in the US market

Vietnam is currently the 7th largest trading partner of the United States and the United States is the 2nd largest trading partner of Vietnam. The report of the Vietnam Trade Office in the United States shows that in 2022, Vietnam's total export turnover to the United States reached 109.38 billion USD, the first export market to reach the 100 billion mark, up 13.6%, accounting for 29.5% of Vietnam's total export turnover.

In 2023, it is estimated that two-way trade turnover will continue to remain above 100 billion USD. However, in addition to expectations, trade cooperation with the US market is expected to have parallel challenges because Vietnamese enterprises doing business with this country will face consequences due to the impact of inflationary pressure and the risk of economic recession in major economies, leading to a decline in export orders.

In addition, this country also sets up barriers, such as trade barriers, technical barriers, and food safety standards. And these challenges not only affect export enterprises but also put similar pressure on logistics enterprises.

According to the Department of European and American Markets, Ministry of Industry and Trade , in recent times, Vietnam's logistics industry has developed rapidly and strongly with an average growth rate of 13-15% per year. Statistics and trade practices show that logistics is an important service industry, considered the backbone, playing a supporting role in connecting and promoting the socio-economic development of the country.

For import and export activities, logistics also plays an important role in maintaining sustainability, enhancing the resilience of the supply chain, as well as enhancing business competitiveness, opening the door for many export industries of Vietnam.

According to Agility's annual rankings in 2023, logistics is one of the fastest and most stable growing industries in Vietnam in recent times. Thanks to that, Vietnam's import and export turnover to the world in general and to the United States in particular has continuously increased, despite the disruption of the supply chain during the Covid-19 pandemic as well as geopolitical instability and global trade conflicts.

However, currently, the number of domestic logistics enterprises, although accounting for about 89%, only accounts for about 30% of the market share, the rest belongs to foreign enterprises. Vietnamese enterprises are mainly small-scale, limited in capital, human resources as well as international operating experience, there is no connection between stages in the supply chain between logistics service enterprises and import-export enterprises; the logistics ecosystem is still weak, lacking connectivity, and has not formed a network of large-scale logistics enterprises, acting as a driving force for the market...

To clarify the difficulties and challenges in the logistics sector with the US market, the Department of European - American Markets, Ministry of Industry and Trade organized an online seminar on the topic "Improving the competitiveness of Vietnam's logistics activities with the US market".

Attending the seminar were speakers: Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department of the Ministry of Industry and Trade; Mr. Vu Duc Bien - General Director of Viettravel Airlines; Mr. Nguyen Nhat Nguyen - Marketing Director of Bien Xanh Commercial Transport Company Limited.

At the seminar, experts and businesses discussed and proposed solutions for Vietnamese logistics service enterprises to improve their competitiveness in logistics activities with the US market; at the same time, they pointed out recommendations from competent authorities so that enterprises in the industry can proactively build a methodical development strategy, gradually expanding the scope and scale of operations.

Program content see here

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