VIETNAM BECOMES A PROMINENT LOGISTICS HUB IN ASIA
Vietnam’s logistics industry ranks 11th among the top 50 rising logistics markets, growing 14–16 percent annually.
This success is due to political and social stability, good geography, and supply chain adjustments. E-commerce’s fast rise has made Vietnam a worldwide transshipment center and supported economic growth and steady manufacturing.
Vietnam’s logistics industry has grown in number and quality. In 2022, import and export products reached a record $732.5 billion, up 9.5 percent from the year before. These favorable conditions and achievements support the anticipation that Vietnam will become Asia’s top logistics center, ready for industrial expansion and success.
Despite tremendous growth, Vietnam’s logistics industry still confronts high logistical costs, weak links between service providers and production/trading organizations, and small-scale businesses with little financial potential. Experts advocate infrastructural interconnection, public-private partnerships, and logistics and supply chain centers for circulation, processing, storage, transportation, and distribution.
The Viet Nam International Logistics Exhibition 2023 (VILOG 2023), scheduled for August of this year, will be an exceptional opportunity for the logistics business community and related industries to promote cooperation and optimize logistics processes and the circulation of goods.
Source: Government News