Director of the MoIT’s European-American Market Development Ta Hoang Linh speaks at the event. (Photo: VNA) HCM City (VNA)🍸 - Amid economic uncertainties and fiercecompetition, improving connectivity between domestic and global logisticsnetworks has become a pressing demand, experts said at a logisticsforum with Asia-America 2023 held by the Ministry of Industry and Trade (MoIT) in HoChi Minh City on December 21.
Speaking at the event, Director of the MoIT’s European-AmericanMarket Development Ta Hoang Linh said situated strategically in a rapidlyevolving global centre known for its concentrated supply channels, Vietnampossesses ample advantages to boost manufacturing, export and expansion oflogistics services.Over the past years, Vietnam'slogistics sector has made considerable strides, with nearly 35,000 businessesnow operating in the field, including around 5,000 professional enterprises.
Accordingto the World Bank’s latest report 2023, Vietnam ranked 43rd in the LogisticsPerformance Index and among the top 5 countries in ASEAN. However, amid globaleconomic challenges and a decline in global demand, the industry is experiencing great pressure to optimise operations and vie for orders, he added.
As economies of Europe and America next yearare projected to either decrease or increase marginally compared to 2023, hesuggested optimising logistics costs and transport time, thereby improvingcompetitiveness of Vietnamese businesses and their exports-imports.
ꦐ In addition to competitive pressures onservices, new international environment standards are prompting logistics enterprisesto innovate and switch to eco-friendly practices to ensure sustainabledevelopment, he noted.
Nguyen Xuan Hung, Deputy General Director of the Vietnam RailwayTransport and Trading JSC (Ratraco), said transporting goods through Asia-Europerail transport route that connects Vietnam, China, Central Asian countries,Russia and the EU is one of the optimal solutions for cost-effective logisticsand ensuring the safety and quality of goods. In addition, businesses couldexplore the option of multimodal transport, combining both sea and railroutes, to reduce transit time to more distant locations.
Sharing the same view, Managing Director of GEODISVietnam Chandler So described Vietnam as an important trading partner of Europe and America.
ꦡ He noted that the European and American markets increasinglyprioritise sustainability and Environmental, Social and Governance (ESG)factors, which extend beyond the manufacturing phase to include transport and post-logistics services. Therefore, logistics suppliers need to swiftlyadjust their supply chain operations towards greener, more eco-friendly andsustainable practices to maintain long-term competitiveness, he suggested./.
