EXPECTING GREAT OPPORTUNITIES AT VIETNAM LOGISTICS MARKET

Vietnam is expected to become Asia’s “logistics star” in the near future, this is a great opportunity for the logistics business community and related fields to approach solutions and promote cooperation to optimize logistics process, goods circulation.

1. Understanding Vietnam’s Logistics Market

Vietnam Logistics market is ranked 10th in the group of 50 emerging markets globally (Agility Ranking 2023). Logistics is one of the fastest growing and most stable industries in Vietnam, with an average growth rate of 14 – 16% a year, with a scale of 40 – 42 billion USD/year.

2. New technology – a factor to improve the capacity of goods management and circulation

Advances in technology affect all activities in immeasurable ways; particularly in the field of logistics new technologies are rapidly changing the way businesses do business. With consumer demand for faster, cheaper and more flexible shipping, it’s more important than ever to keep up with the developments that shape today’s industry. In the face of a growing wave of online shopping, investment and application of logistics technology is considered a solution to help businesses meet the increasing demand for transportation and bring more conveniences to consumers in the future.

3. Market trends and challenges

– Cold chain logistics
– Green logistics development

4. It is necessary to promote digital transformation in the logistics market and develop e-logistics

At the present time, digital transformation is an inevitable part of all economic sectors, including logistics. Digital transformation will help this activities take place smoothly, quickly and save labor. Therefore, for sustainable development, a very important thing that businesses must do is digital transformation, using data in their operations.

5. Conclusion

As Vietnam’s economy continues to thrive, an efficient and robust logistics network becomes more essential than ever. Currently, Vietnam’s logistics enterprises have a great advantage that Vietnam’s domestic and international production and trade activities have grown continuously in recent times.

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Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn
Email: miller@hmlf.vn