Việt Nam aims to rank among the top 40 in the world by the logistics performance index (LPI). It wants to have around 80 per cent of domestic logistics companies using digital transformation solutions and half of vehicles used in the...
The country was also among the top 10 places in the 2023 Agility Emerging Markets Logistics Index compiled by Agility, one of the world’s top freight forwarding and contract logistics providers.
Government and ministries have been improving solutions to reduce logistics costs and favourable conditions for sustainable development of the industry to make Việt Nam a logistics hub in ASEAN.
Viet Nam''s logistics industry grew by around 14 to 16 per cent annually in recent years. It is comprised of about 3,000 domestic firms and 30 transnational heavyweights, including DHL, FedEx, and APL Logistics.
The logistics industry of Viet Nam had large potential for development, given the heavy investments in infrastructure system including building and expanding expressways, airports, seaports, and logistics centres.
Viet Nam needs solutions to develop green logistics to take advantage of free trade agreements (FTAs), especially new generation FTAs to help the industry develop, support market expansion and promote exports.
Viet Nam’s geography gives it a logistical advantage in boosting production, export and logistics services. This year, the Government has set targets of tapping its full potential.
Despite difficulties caused by the pandemic, the domestic logistics industry still has many opportunities for growth if it improves competitiveness with foreign competitors.
The COVID-19 health crisis and resulting wide-ranging and deeply-felt economic upheaval has flipped the logistics industry on its head, leaving ill-protected freight firms in dire need of emergency State support to survive hardships.
Strengthening digital transformation in the logistics industry was an important solution to enhance capacity and competitiveness of logistics companies as well as service quality in Viet Nam.
The seaport and logistics industry was forecast to grow significantly on the prospect of global trade recovery in 2021 when the vaccine to prevent COVID-19 became more popular.