Logistics Vietnam step by step reaching out to the big sea

For Vietnamese logistics to go far, the role of Vietnamese businesses is strongly transforming to participate in the global supply chain.

In 2022, Vietnam's logistics industry has had positive signals. In order for Vietnam's logistics to continue to go far, Vietnamese businesses are strongly transforming to participate in the global supply chain.

According to the General Statistics Office, in the first 10 months of 2022, the total import and export turnover of goods was estimated at USD 616.24 billion, up 14.1% over the same period last year. The scale and number of enterprises operating in the field is increasingly expanding.

Vietnam - a potential logistics market

There are currently 30,000 enterprises operating in the field of logistics nationwide, of which, more than 5,000 enterprises operate in the field of international logistics, 69 logistics centers are large and medium-sized, attracting investment in many fields. .

The explosion of e-commerce is one of the factors driving the growth of logistics in Vietnam. According to the "e-Conomy SEA 2022" report on the digital economy of Google, Temasek and Bain & Co., Vietnam's digital economy reached $23 billion, up 28% over the same period last year, of which 14 billion USD comes from the e-commerce industry.

To meet the increasing demand for warehousing and transportation, Vietnamese logistics businesses will need to continue to develop infrastructure and technology for management and operation.

Preferential policies and abundant human resources, high expertise and competitive prices continue to be strong points for foreign businesses to choose to set up factories in Vietnam in the wave of chain transformation. global supply.

Most recently, on November 3, Denmark's LEGO Group kicked off a $1.3 billion factory in Binh Duong. It can be said that the explosion of new transportation, logistics and supply chain trends has helped Vietnam become a potential emerging market in Southeast Asia.

Strong motivation from leading enterprises in the industry

One of the important reasons driving the growth of the logistics industry is that businesses are trying to increase their market share and participate in the global value chain, especially industry leaders like ITL Group.

The four biggest issues that need to be addressed will be business, labor, costs, and finance. Infrastructure, human resources and digital transformation are the "triangle" that will determine the success or failure of businesses in the coming time.

Currently, the government's goal with the logistics industry is to improve efficiency and reduce costs so that Vietnam can compete more strongly in the international market. Vietnam's logistics costs are accounting for 16.8% of GDP compared to 10.6% of the world.