Vietnamese logistics firms to face challenges due to global certainties
VOV.VN - Local export and logistics businesses are anticipated to enduring difficulties moving forward due to factors such as high inflation and the risk of a global economic recession, according to insiders.
The information was unveiled on December 20 by experts at the “Logistics Forum with Europe and the Americas 2022” held in Ho Chi Minh City.
Upon addressing the event, representatives of the Ministry of Industry and Trade emphasised that the nation’s logistics industry has grown rapidly, with an average growth rate of 14% to 16% per year, duly contributing between 4% and 5% to the country’s GDP.
Between January and November, trade turnover between Vietnam and the Europe-America region increased by 11.8% to US$212 billion, of which exports surged by 16% to US$171 billion on-year.
At the function, business representatives shared their experiences of attempting to reduce costs and improve the overall efficiency of logistics services.
In line with this, businesses are required to gain greater insights into customs clearance regulations at international ports, whilst also seeking solutions aimed at optimising logistics costs and utilising the synchronous connection network of large foreign transport companies in order to gain entry into new transport channels.
Most notably, local firms must focus on connecting logistics service infrastructure for the export of agricultural products in the Mekong Delta region amid domestic costs remaining high, said think tanks.
Nguyen Chanh Phuong, vice chairman of the Ho Chi Minh City Fine Arts and Woodworking Association, predicts that domestic logistics costs will tend to increase again, adding that the rapid completion of the Ring Road No 3 and Ring Road No 4 which connects to the port system in Dong Nai and Ho Chi Minh City are anticipated to lower logistics fees in the coming time.