What do we see through the Vietnam Logistics Report 2024?

The Vietnam Logistics Report 2024 with the theme of Free Trade Zones, recently released by the Ministry of Industry and Trade, outlines a panoramic picture of Vietnam's logistics industry.

Overview of Vietnam logistics

Pursuant to Decision No. 200/QD-TTg dated February 14, 2017 of the Prime Minister approving the Action Plan to enhance competitiveness and develop Vietnam's logistics services by 2025 and Decision No. 221/QD-TTg dated February 22, 2021 amending and supplementing Decision No. 200, starting from 2017, the Ministry of Industry and Trade coordinates with logistics experts to develop the annual Vietnam Logistics Report to review, evaluate, and provide information on the situation and prospects of Vietnam and international logistics and related policies and regulations... contributing to serving state management, production, business and investment activities of enterprises, scientific research and communication in the logistics sector.

Vietnam Logistics Report 2024

The Ministry of Industry and Trade said that in 2024, the world economy will grow positively thanks to increased demand for goods, gradually decreasing inflationary pressure, and decreasing average prices of goods thanks to improved supply,...

Logistics plays an important role in Vietnam's import and export activities (Photo: Can Dung)

However, the world still faces many risks and instabilities that negatively impact sustainable growth. Increasingly fierce strategic competition among major countries, increasing geopolitical tensions, escalating military conflicts in some countries weaken the multilateral trading system, hinder investment, destabilize both production and consumption, and increase financial volatility.

In addition, the increasing frequency and severity of natural disasters due to climate change threatens food security, energy security, social instability, etc., affecting the global supply chain, directly impacting the development of Vietnam's logistics service industry.

The highlight of the logistics industry in 2024 is that the logistics infrastructure system continues to receive investment attention, strongly developing in a modern and safe direction, many projects meet international quality standards, the transportation network has connected to all regions in the country, helping to reduce logistics costs and delivery times. Many new policies have been issued, procedures have been adjusted to facilitate businesses; information, propaganda and research activities, promotion, international cooperation on logistics take place actively and widely at both central and local levels. The issue of environmentally friendly production and sustainable development is of concern at both macro management and business levels.

In addition, Vietnam's logistics industry still faces many difficulties such as: The structure of freight transport heavily depends on road transport, which is one of the reasons leading to high logistics costs, reducing the competitiveness of Vietnamese goods; logistics development in many localities still faces many difficulties due to limited infrastructure; shortage of highly skilled personnel; application of technology and digital transformation is not comprehensive; information and data on logistics have not met the needs of management agencies' management and policy making as well as business strategy development of enterprises; the potential of free trade zones has not been fully exploited.

Entering 2025, state management agencies, associations and enterprises need to focus on the following activities: Focus on completing and implementing the Overall Strategy for the Development of Vietnam's Logistics Services to 2035, with a vision to 2050. Continue to synchronously and resolutely implement the tasks stated in Decision No. 200/QD-TTg dated February 14, 2017, Decision No. 221/QD-TTg dated February 22, 2021 and Decision No. 708/QD-BCT dated March 26, 2019 at ministries, branches and localities. Ministries, branches and localities continue to promote administrative reform, reduce or simplify administrative procedures related to logistics, and simplify specialized inspection procedures. Closely and quickly coordinate in handling obstacles and removing difficulties for businesses. Mobilize resources, focus on removing difficulties, and implement key projects in the transport sector. Improve the quality of investment, development, and connectivity of logistics infrastructure as a driving force for economic development.

Continue to promote trade promotion activities, attract investment and international cooperation in the logistics sector, take advantage of opportunities from FTAs, especially new generation FTAs. Take advantage of the investment shift wave to attract investment in developing logistics centers, especially high-tech logistics centers.

Develop human resources in both quantity and quality, with professional qualifications, skills, foreign languages, and information technology. Focus on training senior managers with strategic vision, deep and broad understanding of the industry, and timely grasp of world development trends.

Deploy the collection, synthesis and publication of a complete, accurate and updated logistics industry database system as a basis for the management and policy making of central and local government agencies; as a basis for business and investment decisions of enterprises. Synchronously implement solutions to promote digital transformation and green transformation for the logistics industry.

Logistics is an important service sector in the overall structure of the national economy, playing a supporting, connecting and promoting socio-economic development of the whole country as well as each locality, contributing to improving the competitiveness of the economy. Developing logistics services into a service sector will bring high added value, linking logistics services with the development of goods production, import and export and domestic trade, developing transport infrastructure and information technology... Developing a healthy logistics service market will create equal opportunities for businesses of all economic sectors, encouraging the attraction of domestic and foreign investment capital in accordance with Vietnamese law and international treaties to which Vietnam is a member.

Free trade zone - highlight for logistics industry development

On June 26, 2024, the National Assembly passed a Resolution on the organization of urban government and piloting a number of specific mechanisms and policies for the development of Da Nang City. Accordingly, the National Assembly agreed to establish the Da Nang Free Trade Zone associated with Lien Chieu seaport, with the goal of attracting investment, finance, trade, tourism and high-quality services.

Along with that, free trade zones are also proposed in the planning of many provinces and cities. With the emergence of free trade zones, Vietnam not only enhances its competitiveness in the region but also promises to become an attractive destination for global investors, especially in the context of more and more free trade agreements (FTAs) being signed and implemented.

In addition to providing information on the development of Vietnam's logistics services in the past year, the Vietnam Logistics Report 2024 with the theme "Free Trade Zones" focuses on analyzing the importance and potential of FTZs for the development of the logistics industry, while providing comments and recommendations on sustainable development strategies. The report will also evaluate successful FTZ development models in the world, thereby drawing lessons and suggesting appropriate policies for Vietnam in the coming time.

See Vietnam Logistics Report 2024 here.

Vietnam Logistics Report 2024 is structured with 07 chapters. Specifically: Logistics service business environment; Logistics infrastructure; Logistics services; Logistics in manufacturing and trading enterprises; Logistics-related activities; Local logistics development; Topic: Free trade zone.

The report was developed with the participation of experts from ministries, branches, associations, training and research organizations... based on a reliable information and data system, updated from official sources and actual survey results.

The Ministry of Industry and Trade's announcement of the Vietnam Logistics Report 2024 will be a valuable document for state management agencies, experts, and businesses in the industry to see the overall picture of the past year. From there, plan, orient, and propose solutions for the following years, thereby bringing the entire Vietnamese Logistics industry into the flow of trade in goods in the era of the Vietnamese nation's rise!

Source: https://congthuong.vn/thay-gi-qua-bao-cao-logistics-viet-nam-2024-361976.html