Logistics industry recovers quickly

Many businesses in the transport and handling group achieved high profits, while logistics companies also had a rate of warehouse leasing in the first 9 months of the year.

Reports of shipping companies show that profits in the first 9 months of the year exceeded the plan. Accordingly, PetroVietnam Transportation Corporation (PVTrans - PVT) recorded a pre-tax profit of more than 1,035 billion VND, exceeding 72% of the whole year plan. Hai An Transport and Unloading Joint Stock Company (HAH) reported a profit 1.5 times higher than the plan for the next 9 months, reaching VND 270 billion.

Similarly, Vietnam National Shipping Lines (Vinalines - MVN), in the past three quarters, profit reached more than VND 2,770 billion, up over 30% over the same period last year and exceeding 10% of the whole year plan...

Not only businesses in the group of transportation, loading and unloading achieved high profits, many logistics companies also had a warehouse leasing rate filled in the first 9 months of the year. In a newly released report, Cushman & Wakefield, a global commercial real estate services company, said that the average occupancy rate of warehouses in Ho Chi Minh City and Hanoi in the first three quarters of the year had reached over 90. %. In the last quarter of the year, this rate can be up to 100% when retailers sign long-term contracts to prepare for the next shopping season.

Statistics of the Vietnam Maritime Administration show that this year, when the epidemic has subsided, transportation and logistics activities have been active again and helped this industry quickly recover.

Forecasting Vietnam's logistics prospects, Virac (a unit specializing in providing research reports and in-depth analysis on economic sectors for domestic and foreign customers) said that with a growth rate of 15-20 % a year, by 2025, the market size will reach 80 billion USD. In which, Vietnam's logistics costs fell to the lowest level, accounting for only 16% of GPD, the rate of outsourcing services reached 50-60%.

The Ministry of Industry and Trade said it will perfect mechanisms, policies and fields that affect the development of logistics to promote this industry's development. At the same time, this agency will direct businesses to promote automation in logistics to optimize efficiency.