Vietnam's logistics industry continues to grow strongly in 2024

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Tiếng Anh Tiếng Việt
Vietnam's logistics industry continues to grow strongly in 2024
Date Submitted: 5 tháng trước

 

Total cargo volume transported through seaports is estimated to have increased by about 14% to over 570 million tons since the beginning of the year; of which, dry cargo and containers account for a large proportion.

Along with export growth, supportive factors from the Government and improvements in the global supply chain have led to strong development of Vietnam's logistics industry in 2024.

Total cargo volume transported through seaports is estimated to have increased by about 14% to over 570 million tons since the beginning of the year; of which, dry cargo and containers account for a large proportion, with handling volumes reaching over 321 and 191 million tons, respectively.

In addition, the expansion of industrial parks, which play a central role in the export supply chain, also contributes to boosting logistics demand.

Vietnam's logistics industry is also making important changes thanks to the support and companionship from the Government.

The government has focused on reforming administrative procedures, especially customs and specialized inspection agencies, to help reduce time and costs for businesses. Strategic seaports such as Lach Huyen (Hai Phong) and Cai Mep-Thi Vai (Ba Ria-Vung Tau) continue to be invested in and upgraded, creating momentum to promote maritime transport, one of the key segments of logistics.

In particular, the application of technologies such as artificial intelligence (AI), blockchain, and supply chain management (SCM) systems has been strongly encouraged, improving productivity and management efficiency.

In addition, policies to promote trade, attract international investment and take advantage of new-generation free trade agreements (FTAs) are also being actively implemented by the Government.

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These efforts not only promote the development of high-tech logistics centers but also create modern supply chains, adding value to domestic and international logistics services.

The role of associations and core enterprises in the logistics industry is also emphasized, helping to promote connectivity in the supply chain and develop sustainable logistics services.

Looking to the future, the combined efforts of the Government and businesses will not only help the logistics industry overcome current difficulties but also position Vietnam as a leading logistics hub in the region.

To create development momentum and make many breakthroughs in 2025, a representative of Vang Transport Joint Stock Company said that like many logistics enterprises, the company expects more active support from the State.

Specifically, investing in transport, telecommunications and information technology infrastructure; adding policies to promote the development of the logistics service industry; simplifying administrative and customs procedures; cutting fees and charges for infrastructure use; and improving the capacity of airport clusters, seaports, and border gates.

With only the support from the Government and the initiative from businesses, the Vietnamese logistics industry can not only overcome current shortcomings but also aim to become a leading logistics center in the region, contributing to improving national competitiveness in the period of deep integration.

Recently, Vietnam Report Joint Stock Company announced the survey results conducted from October-November 2023-2024, showing that fluctuations in revenue, costs and profits of logistics enterprises from the fourth quarter of 2023 to 2024 clearly demonstrated the recovery of the industry.

If in 2023, the industry's revenue was severely affected due to 33.3% of businesses significantly reducing revenue, by 2024, the situation had improved with 52.9% of businesses significantly increasing revenue; the revenue reduction rate also decreased to only 11.8%.

In addition, logistics businesses have also eased pressure on costs. The percentage of businesses recording significant cost increases is only about 17.6% in 2024, while the percentage of businesses with significant revenue increases is up to 52.9% this year. Improvements in revenue and cost control have led to a more positive profit outlook for many carriers.

By 2024, up to 82.3% of businesses forecast increased profits. This data reflects the positive impact of export recovery and wise investment in logistics technology along with effective support policies from the Government, affirming that the logistics industry is gradually regaining growth momentum and playing an important role in the global supply chain.

Vietnam Report's survey also shows that the logistics business community is optimistic about the prospect of 2025 continuing the recovery momentum of 2024. In terms of the overall view of the logistics industry, 29.4% said it was slightly more optimistic and 11.8% said it was much more optimistic.

For businesses, 64.7% said the situation would be slightly better and 17.6% said it would be very good. Only 5.9% predicted it would be much more difficult, showing confidence in the industry's strong and sustainable recovery.

This reflects confidence not only in internal business improvement but also in government policy support and international trade growth trends.

Looking forward to the final year of the 2021-2025 Socio-Economic Development Plan, the logistics industry is taking advantage of opportunities from the global supply chain shift, boosting investment and applying technology to strengthen its vital role in the economy.

Mr. Vu Dang Vinh, General Director of Vietnam Report, said that the biggest challenges for this industry in 2024 include economic and political instability in the world, competition between businesses in the same industry, slow growth of the world economy, legal barriers and administrative procedures, and labor that does not meet the quantity/quality requirements.

2024 is identified as the decisive year in the action plan to improve the competitiveness of logistics services according to Decision No. 221/QD-TTg of the Prime Minister.

Mr. Vu Dang Vinh said that this is also an important preparation step for the Logistics Service Development Strategy for the period 2025-2035, with a vision to 2050, aiming to turn Vietnam's logistics into a spearhead service industry, enhance national competitiveness and help promote key projects of the transport sector, focusing on connecting and developing synchronous logistics infrastructure, helping to improve the efficiency of domestic and international transport./.

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