Vietnam is considered as a potential and attractive market for the development of logistics services.
Logistics is an important service sector in the overall structure of the national economy, playing a supporting role, connecting and promoting socio-economic development of the country as well as each locality, contributing to improving competitiveness of the economy. This study discusses the development prospects of this industry as well as offers some solutions to promote the development of logistics services in Vietnam.
Situation of Vietnam logistics industry
Logistics is an important service sector in the overall structure of the national economy, playing a supporting role, connecting and promoting socio-economic development of the country as well as each locality, contributing to improving competitiveness of the economy. Logistics is a series of services from the pre-production stage until the goods reach the final consumers. This field is directly related to transportation, forwarding, warehousing, administrative service procedures, consulting (customs, tax, insurance …), import-export-trade, distribution channels. , retail…
Developing logistics services into a service industry will bring high added value, linking logistics services with the development of domestic goods production, import-export and trade, and development of transport and public infrastructure. information technology … Developing a healthy logistics service market will create equal opportunities for businesses (enterprises) of all economic sectors, encouraging attracting domestic and foreign investment capital in compliance with the law. Vietnamese laws and international treaties to which Vietnam is a party.
According to the Vietnam Association of Logistics Services Enterprises (VLA), the growth of logistics industry in Vietnam in Vietnam in recent years has reached about 14% -16%, with a scale of about 40-42 billion USD / year. Join the logistics market including about 3,000 domestic enterprises and about 25 leading logistics corporations doing business in various forms. Currently, 30 companies providing transnational logistics services are operating in Vietnam with big names such as DHL, FedEx, Maersk Logistics, APL Logistics, CJ Logistics, KMTC Logistics …
According to World Bank rankings, Vietnam currently ranks 64/160 countries in terms of logistics development and 4th in ASEAN after Singapore, Malaysia and Thailand. With an annual growth rate of 14-16%, this is one of the fastest growing and most stable service industries of Vietnam in recent years.
It is forecasted that by the end of 2020, Vietnam’s import-export turnover will reach USD 300 billion, containerized goods through Vietnam’s seaport system will reach 67.7 million TEUs, thus, the potential of developing Vietnam logistics service The male is very big. In the near future, logistics services will become an important economic sector, which can contribute up to 15% of the country’s GDP.
In particular, there has been a boom in e-commerce and e-Logistics recently. According to the Department of Industry and Trade’s E-Commerce and Digital Economy, e-commerce is growing by 35% per year; Vietnam’s e-commerce retail sales in the period 2016-2020 is estimated to increase by 20% per year and the total E-commerce retail sales of Vietnam is expected to reach US $ 10 billion by 2020. Changes in e-commerce in the world and in Vietnam has promoted Vietnam’s logistics industry to improve the method of providing services more and more professionally and effectively.
Opportunities to promote logistics industry development
Currently, Vietnam is assessed to have many opportunities to promote the development of Logistics services. Specifically, the system of road transport infrastructure, airports, seaports, warehouses, trade infrastructure, logistics centers is constantly expanding with large scale and widespread. Along with that, the accompanying services have been promptly meeting the very diverse requirements of the market. Customs clearance procedures for exports have also improved significantly.
In 2017, customs clearance time for exports was 105 hours, imports were 132 hours. Vietnam is also ranked 39/160 countries in terms of logistics performance index and 3rd in ASEAN after Singapore and Thailand … These factors have enabled businesses to develop, reduce costs, improve. competitiveness, promoting exports; forming comprehensive, diversified and increasingly intensive logistics supply chains, making an important contribution to the structure of the economy.
The completion of legal regulations has been of recent interest to the Government. The reality of Vietnam’s deeper and deeper international economic integration, especially the implementation of next-generation Free Trade Agreements (FTAs), requires appropriate regulations, favorable conditions, open the development of Logistics services, promote domestic investment and international cooperation.
The Prime Minister issued Decision No. 200 / QD-TTg dated February 14, 2017, approving the Action Plan to improve competitiveness and development of Vietnam’s logistics service industry until 2025. In which, set out 06 goals, 60 specific tasks with many comprehensive solutions, aiming to bring the industry to overcome difficulties and challenges, reach the advanced level of the region and the world, and meet the requirements of economic development. of the country.
