Conference seeks to develop Vietnamese logistics industry

Upon addressing the event with the theme of "Transform to breakthrough", Deputy Minister of Planning and Investment Do Thanh Trung emphasised that logistics represents a service industry which plays an essential role and makes an important contribution to socio-economic development.

The annual growth rate of the Vietnamese logistics industry averages between 14% and 15%, with a scale of US$40 billion and US$42 billion per year.

Vietnam's logistics enterprises have rapidly increased in number with over 3,000 domestic transport and logistics firms and about 25 leading logistics corporations operating globally.

Although the country’s logistics industry has achieved positive results in recent times, there remains a number of inadequacies. This includes a lack of legal framework, limited transport and logistics infrastructure and enterprises’ limitations in terms of qualifications, experience, capital, and human resources.

He therefore urged Vietnamese enterprises to grasp and apply new technologies whilst taking the full advantage of the country's existing potential and opportunities to be competitive both domestically and internationally in a bid to develop the Vietnamese logistics industry.

Furthermore, he underlined the need to improve competitiveness through digital transformation, invest in technology, and build high-quality human resources, implement joint ventures, as well as mergers and acquisitions (M&A) to create stronger enterprises.