Changing mindsets about logistics to seize opportunities from EVFTA.

According to information from the Department of European and American Markets ( Ministry of Industry and Trade ), at 2 PM on September 23, 2024, the Ministry of Industry and Trade will coordinate with relevant units to organize the "European and American Regional Logistics Forum 2024" with the theme "Seizing opportunities from EVFTA and changes in the logistics industry to support exports to the EU market".

The forum will be held in Ho Chi Minh City with the participation of delegates from various ministries, sectors, domestic businesses, and those from Europe and America.

At 2 PM on September 23, 2024, the Ministry of Industry and Trade, in coordination with relevant units, will organize the "Europe-America Regional Logistics Forum 2024" with the theme "Seizing opportunities from EVFTA and changes in the logistics industry to support exports to the EU market." (Photo: Department of European-American Markets)

Mr. Ta Hoang Linh, Director of the European-American Market Department, stated that the Forum was organized to provide updated information on market fluctuations affecting the supply chain, as well as new EU regulations (Carbon Border Adjustment Mechanism - CBAM, Green Logistics, etc.); thereby helping businesses to promptly grasp changes, build appropriate strategies, and adjust operational plans effectively, while also understanding the necessary requirements to minimize incurred costs.

Director Ta Hoang Linh emphasized that the Forum is also an opportunity for experienced experts to share solutions for optimizing supply chains, improving transportation efficiency, and developing sustainable logistics, meeting the stringent standards of the EU market, with the goal of supporting businesses in facing the opportunities and challenges in the current logistics sector.

According to the planned program, in addition to providing information on the logistics connectivity between Vietnam and the European and American markets, delegates attending the Forum will also discuss and exchange ideas on solutions to strengthen logistics connectivity, improve efficiency, and leverage incentives to support exports to the European market.

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The delegates will focus on key topics such as: Green logistics: Sustainable development orientation; Road transport: Current situation and development potential; Trends in logistics transport costs between Vietnam and the EU...

Logistics is one of Vietnam's fastest-growing and most stable industries, with an average growth rate of 14-16% per year. (Illustrative image)

Logistics is one of Vietnam's fastest-growing and most stable industries, with an average growth rate of 14-16% per year. Coupled with the openness of the Vietnamese economy , having participated in 17 FTAs, including many new-generation FTAs ​​such as the EVFTA, this will boost exports and create further room for growth in the logistics sector.

According to leaders of the Ministry of Industry and Trade, FTAs ​​will bring several positive impacts, such as increased business efficiency through administrative procedure reforms; increased demand for logistics services; increased size of the logistics market due to increased import and export activities; and attracting investment from other countries. Furthermore, the logistics and transportation system must meet stringent international standards and control procedures. Therefore, participating in new generation FTAs, including the EVFTA, will create more development opportunities for Vietnam's logistics industry.

Experts believe that free trade agreements will bring several positive impacts, such as: increased business efficiency through administrative procedure reforms; increased demand for logistics services; increased size of the logistics market due to increased import and export activities; and attracting investment from other countries. However, negative impacts also emerge, such as more intense competition with foreign businesses, and the need for logistics and transportation systems to meet stringent international standards and control procedures.

Participation in new-generation Free Trade Agreements (FTAs), including the EVFTA, will create more development opportunities for Vietnam's logistics industry. To take full advantage of these opportunities, one of the key factors is for businesses to improve their capital scale, management capacity, and scope of business operations, especially through leveraging joint ventures with international investors.

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Experts believe the opportunities are immense. For example, in the EVFTA agreement's commitments on opening up maritime transport services, the operating conditions for Vietnamese-flagged vessels stipulate that joint ventures with up to 49% foreign capital are permitted, foreign crew members cannot exceed one-third of the ship's crew, and the captain must be a Vietnamese citizen…

Therefore, the opportunity to attract investment from foreign companies, leveraging the experience, management skills, capital, and existing networks of domestic partners, is immense.

The Industry and Trade Newspaper will continue to update information about the Forum...

Source: https://congthuong.vn/thay-doi-tu-duy-ve-logistics-de-don-co-hoi-tu-evfta-347151.html