Unsynchronized transport infrastructure impedes logistics development

Delegates emphasized that Vietnam must focus on enhancing transportation infrastructure and ensuring a seamless connection between transportation infrastructure and logistics services for the logistics sector to flourish.
Delegates at the Logistics Summit 2023 held by Dau Tu Newspaper

Delegates at the Logistics Summit 2023 held by Dau Tu Newspaper

On October 5, the Dau Tu (Investment) Newspaper hosted the Logistics Summit 2023 titled "Logistics in Vietnam – The Path Ahead." The conference aims to uncover groundbreaking ideas and contribute to the growth of the Vietnamese logistics market, positioning it as a key logistics hub in the Asia-Pacific region.

According to the Foreign Investment Agency under the Ministry of Planning and Investment, the total registered foreign investment capital has reached nearly US$20.21 billion, marking a 7.7 percent increase compared to the same period in 2022. This has positioned Vietnam as one of Asia's most attractive investment destinations, with a per capita GDP of $4,100 in 2022.

In addition, Vietnam has been actively refining its mechanisms and policies, and the logistics development infrastructure is also being enhanced and expanded.

According to the World Bank's rankings, Vietnam currently stands at 64th out of 160 countries in terms of logistics development and is the 4th in the ASEAN region, following Singapore, Malaysia, and Thailand.

In 2022, Vietnam secured the 11th position among the top 50 emerging logistics markets globally. With a growth rate of 14-16 percent and a market scale of $40-42 billion per year, Vietnam's logistics sector retains substantial potential. However, there are challenges to address, including the need for a comprehensive multimodal transportation network, policy coherence, constraints on labor resources, and limitations in business support policies.

An overview of the event

An overview of the event

Mr. Tran Duy Dong, Deputy Minister of the Ministry of Planning and Investment, emphasized the importance of enhancing policies and legislation pertaining to logistics services, conducting reviews to simplify business requirements, and streamlining specialized inspection processes to cut costs and save time for businesses.

Furthermore, the government is reassessing urban planning and plans to ensure the integration of transportation infrastructure and transport services, all aimed at boosting the logistics sector. Additionally, there is a focus on developing a proficient workforce for the industry. Lastly, logistics companies are encouraged to formulate business strategies, establish partnerships, engage in joint ventures with other entities, or participate in merger and acquisition activities.

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