Vietnam is expected to become the 'logistics star' of Asia.

According to experts, logistics is the fastest and most stable growing industry in Vietnam, with an average growth rate of 14-16% per year, and a scale of 40-42 billion USD per year.

According to the Emerging Market Logistics Index 2022 Report released by transportation and logistics service provider Agility, Vietnam ranked 11th among the top 50 emerging logistics markets globally.

Thanks to its political and social stability and favorable geographical location, Vietnam is benefiting from the wave of supply chain shifts.

In addition, Vietnam has taken advantage of its long coastline to have a seaport system with optimal capacity, an optimistic economic growth rate, and stable production. Along with that, the explosion of e-commerce is developing rapidly in both export and domestic consumption directions, helping Vietnam improve its competitiveness to become a world freight transit center, a link in the global supply chain. Vietnam is expected to become the "logistics star" of Asia in the near future.

Container yard at Tan Cang Cat Lai. (Photo: Hong Dat/VNA)

Along with the advantages, difficulties and challenges also exist such as high service costs and increasing pressure on infrastructure. According to experts, the logistics industry still needs to develop infrastructure connections, expand public-private partnerships into logistics centers and comprehensive supply chains for circulation, processing, preservation, transportation and distribution.

Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department ( Ministry of Industry and Trade ), said that in recent years, Vietnam's logistics industry has made significant progress, the number of enterprises and the quality of logistics services have increased, contributing significantly to the import-export results of goods in 2022 reaching the highest level ever of 732.5 billion USD, an increase of 9.5% compared to 2021.

This is the result of the efforts of logistics service enterprises and the Government in creating a business environment, improving the competitiveness of enterprises in the economy in general and the logistics service sector in particular, as well as efforts to improve from the enterprises themselves.

However, Vietnam's logistics industry still has many weaknesses such as: high logistics costs; lack of connection between logistics service enterprises with each other and with manufacturing, trading, import-export enterprises; the scale and financial potential of Vietnamese logistics enterprises are still weak, the expansion into foreign markets is not significant...

Hai Phong Port. (Photo: An Dang/VNA)

Mr. Nguyen Duy Minh, General Secretary of the Vietnam Logistics Services Association (VLA), said that with Vietnam expected to become the "logistics star" of Asia in the near future, the Vietnam International Logistics Exhibition 2023 (VILOG 2023) scheduled to be held in August this year will be a great opportunity for the logistics business community and related fields to access solutions and promote cooperation to optimize logistics processes and goods circulation.

According to the VILOG 2023 Organizing Committee, businesses and visitors attending the exhibition will have the opportunity to access and learn about the latest logistics technology applications; thereby applying technology to the management and circulation of goods to increase transportation capacity, anticipate increasing market demand and enhance customer experience.

Technology businesses will participate in introducing products and services at VILOG 2023 such as: AFR Solutions - the leading cloud computing solution for logistics, supply chain and trade management; AHAMOVE - OnWheel, professional delivery management software; SAMSUNG SDS - 4PL service based on the Cello integrated logistics platform; ECOTRUCK - a company applying technology to management and operations, focusing on the large cargo segment with an ecosystem of supporting services for transportation such as gasoline, tires, insurance, repair, financial support for car purchases, transportation cash flow, parking lots...

Within the framework of VILOG 2023 Exhibition, in addition to essential networking activities, a series of "dual-purpose" seminars will also be held to discuss and connect on topics of interest such as online agricultural product export under the Buy-Ship-Pay model and cold supply chain.

Notably, the seminar "Customs accompanies businesses in developing logistics activities, enhancing the competitiveness of export goods" will be an important highlight in the series of forums and seminars aimed at providing practical knowledge and useful lessons as well as answering questions from participating businesses.

(Source: vietnamplus)

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Source: https://vtc.vn/viet-nam-duoc-ky-vong-tro-thanh-ngoi-sao-logistics-cua-chau-a-ar772628.html