ITL's booth welcomed hundreds of customers and partners during the event. — VNA/VNS Photo
As one of the two Vietnamese representatives participating in the "Transport Logistic Southeast Asia" and "Air Cargo Southeast Asia" exhibition and conference in Singapore earlier this month, ITL continues to affirm its pioneering role in contributing to making Việt Nam a new regional transit hub for goods.
The event took place amid a report that the market size of the Asia-Pacific transportation and logistics industry will reach US$3.35 trillion by 2023 and $4.56 trillion by 2029, with a growth rate of 5.24 per cent from 2023 to 2029, according to Mordor Intelligence.
Post-pandemic challenges and the China Plus One supply chain strategy to diversify manufacturing and sourcing operations beyond China make Southeast Asia an outstanding option. “Southeast Asia is a dynamic hub for trade and commerce. In transport logistics, Southeast Asia gives visitors access to a wide range of market opportunities,” said MMI Asia CEO Michael Wilton, the organiser of the events.
In this region, besides leading hubs such as Singapore, Thailand, and Malaysia, Việt Nam is emerging as a new transit hub for goods, contributing to the expansion of international trade flows.
General Department of Việt Nam Customs stated that Việt Nam's total trade turnover in the first ten months reached $558 billion. In terms of volume, goods through seaports were estimated to reach 625 million tonnes, an increase of 3 per cent compared to the same period in 2022, according to the Việt Nam Maritime Administration.
"Việt Nam is the largest manufacturing hub in the region. Therefore, collecting goods in Việt Nam is more meaningful than in Cambodia, Laos, or elsewhere. Moreover, Việt Nam is becoming a more strategic market to many companies, especially American companies," said Alexander Olsen, Vice President of Freight Management and Commercial of ITL.
As one of the two representatives attending "Transport Logistic Southeast Asia" and "Air Cargo Southeast Asia," ITL's 18sq.m booth welcomed hundreds of customers and partners during the event. ITL not only showed its capabilities but also provided international customers with the latest market updates about Việt Nam.
"ITL's presence at the regional exhibition and conference event continues to affirm that Việt Nam is increasingly ready to become an international transit hub for goods. Việt Nam is capable of seamlessly connecting from the air to the sea and provide demand-based solutions for both manufacturers and e-commerce businesses," said Tony Anh, Deputy General Director and Vice President of ITL's Aviation Services.
"Most of our customers want Việt Nam to be the transit hub. They want goods to be manufactured in Cambodia, Myanmar, Laos, and Việt Nam, then Việt Nam will be the centre for the Indochina region," Alexander Olsen added.
Seeing this demand, ITL affirms that it will continue to develop comprehensive integrated logistics services to support cargo transportation in the best way, thereby integrating Việt Nam's air cargo transportation industry deeply and widely into the global market. — VNS