In 2024, Vietnam's logistics industry will witness a strong recovery, thanks to export growth and government support factors as well as improvements in the global supply chain.
On the afternoon of November 29, Vietnam Report Joint Stock Company announced the Top 10 prestigious logistics companies in 2024. The announcement and honoring ceremony for typical enterprises will take place in January 2025 in Hanoi.
Top 10 reputable logistics companies in 2024 - international freight forwarding, warehousing, 3rd and 4th party logistics services include Gemadept Joint Stock Company, ITL Group Joint Stock Company, Con Ong Transport and Logistics Joint Stock Company, Transimex Joint Stock Company, Hai An Transport and Stevedoring Joint Stock Company, Con Ca Heo Aviation Maritime Services Joint Stock Company, Aviation Logistics Joint Stock Company, Saigon Cargo Services Joint Stock Company, Southern Logistics Joint Stock Company and Vinafreight Joint Stock Company.
The freight transport industry includes enterprises such as: Vietnam National Shipping Lines - JSC, Petroleum Transport Joint Stock Corporation, Pacific Petroleum Transport Joint Stock Company, Nhat Viet Transport Joint Stock Company, International Gas Product Transport Joint Stock Company, Viet Thuan Transport Company Limited, Southern River Transport Joint Stock Corporation, Vinafco Joint Stock Company, Vietnam Sea Transport Joint Stock Company and Phuong Dong Viet Transport and Logistics Joint Stock Company.
In addition to the two groups mentioned above, Vietnam Report also listed the Top 10 prestigious logistics companies in 2024 in the port operation group and the express delivery and last-mile delivery group.
This assessment report is built on scientific and objective principles, based on three main criteria: financial capacity shown in the most recent financial report; media reputation assessed by the Media Coding method - encoding articles about the company on influential media channels and survey results of research subjects and stakeholders updated in November 2024.
Assessing the export recovery situation, which is becoming the main driving force of the logistics industry in 2024, Mr. Vu Dang Vinh, General Director of Vietnam Report, said that in 2024, the Vietnamese logistics industry will witness a strong recovery, thanks to export growth and support factors from the government as well as improvements in the global supply chain. Vietnam's exports in the first 10 months of 2024 increased by 14.9%, reaching 335.6 billion USD after a period of decline in 2023.
Key industries such as electronics, textiles, and agricultural products continued to lead with important contributions to total export turnover; in which, exports to the US, Vietnam's largest market, nearly reached the 100 billion USD mark in the past 10 months, with a trade surplus of more than 86 billion USD, a sharp increase of 26.9% over the same period. Such results were partly due to the shift of production from China to Vietnam in the context of diversifying global supply chains.
The recovery in exports has led to positive growth in the logistics industry. The total volume of goods transported through seaports is estimated to increase by about 14% in the first 10 months of 2024, reaching over 570 million tons; 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.
According to CBRE Vietnam, the average occupancy rate in industrial parks reached 81% in the North and 92% in the South by the end of June 2024. The above figures are expected to be even more positive thanks to the continued strong flow of FDI capital, with a total registered capital of over 27.26 billion USD in the first 10 months of 2024.
According to Vietnam Report's survey of logistics enterprises, the fluctuations in revenue, costs and profits of logistics enterprises in the first 9 months of 2023 and 2024 show a clear recovery of the industry. In 2023, the industry's revenue was strongly affected when 33.3% of enterprises decreased significantly, but in 2024, the situation improved with 52.9% of enterprises increasing significantly, the decrease rate decreased to 11.8%.
At the same time, logistics businesses also eased pressure on costs. The rate of businesses recording significant cost increases reached 17.6% in 2024, much lower than the rate of 52.9% of businesses with significant revenue increases. Improved revenue and cost control lead to a more positive profit outlook.
In 2024, up to 82.3% of businesses forecast increased profits; of which, 58.8% increased significantly, and the number of decreases decreased from 66.7% to 5.9%. This data reflects the positive impact of export recovery, investment in logistics technology and effective support policies, affirming that the logistics industry is gradually regaining growth momentum and playing an important role in the global supply chain.
Vietnam Report's survey shows that the logistics business community is optimistic about the prospects for 2025, continuing the recovery momentum in 2024. In terms of the overall logistics industry, 29.4% have a slightly more optimistic view and 11.8% have a much more optimistic view.
For businesses, 64.7% said the situation would be slightly better and 17.6% said it would be very good. Only 5.9% predicted much worse, showing confidence in a strong and sustainable recovery for the industry. This reflects confidence not only in the internal improvement of businesses but also in the support of government policies and the growth trend of international trade.
Expected in the final year of the 5-year Socio-Economic Development Plan 2021-2025, the logistics industry is taking advantage of opportunities from the global supply chain shift, promoting investment and technology application to strengthen its vital role in the economy./.
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