The logistics sector in Vietnam is expected to attract a significant amount of foreign investment due to post-pandemic development opportunities
Vietnam's Logistics Industry on the International Stage
First and foremost, according to Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department, Ministry of Industry and Trade of Vietnam, our country possesses favorable geographical and economic conditions to develop manufacturing, exports, and logistics services. In addition, large-scale logistics infrastructure projects nationwide are in the process of completion, contributing to enhancing Vietnam's transport capacity to meet international demands.
Mr. Piyush Rathorenoi, CEO of Transworld QBV ICD Joint Stock Company, believes that the logistics industry will experience significant advancements in the future. He also envisions Vietnam becoming a global transit hub.
Investing over 1 billion USD in a Logistics Project in Bac Giang
Investing over 1 billion USD in a logistics project in Bac Giang CLD Company under Capitaland Group (Singapore) recently signed a memorandum of understanding to invest 1 billion USD in the first logistics and industrial urban area project in Bac Giang.
The General Director of CLD Vietnam, Mr. Ronald Tay, has also shared some insights regarding this project. He believes that the project will play a crucial role in coordinating the establishment of a flexible supply chain network for the key economic region in the North as well as providing employment for 20,000 local people.
Other notable investment projects Best Express Vietnam has recently invested 20 million USD in developing goods sorting centers in Bac Ninh and Ho Chi Minh City. The company also plans to invest an additional 3 million USD to expand its offices nationwide to 1,500, thereby enhancing the transportation system by 2022.
Furthermore, SEA Logistics Partner has commenced the groundbreaking of SLP Park Xuyen A, a project aimed at providing warehouses for Long An province. The project is expected to be completed in the first quarter of 2023.
Attracting Investment Despite the Pandemic
According to a report by the Ministry of Industry and Trade, Vietnam is home to 30,000 logistics service providers. Among them, warehouse services are a key component of Vietnamese logistics companies.
In the past two years, despite the complex developments of the pandemic, nearly 3 billion USD has been invested in Vietnam's logistics industry. This presents a great opportunity, and domestic enterprises should fully utilize their resources to compete with foreign counterparts.