- Vietnam’s logistics has a lot of advantages to thrive in the future.
- Many promising projects are decided and under construction.
Can Vietnam’s logistics be equivalent to the world’s?
According to Tran Thanh Hai, deputy head of the ministry of industry and trade export and import department, Vietnam has geo-economic advantages to promote development of production, export and logistics service. Moreover, many logistic infrastructure projects are going to be completed in the near future. They would contribute to improve the transiting capability of Vietnam.
Piyush Rathorenoi, general director of Vietnamese company Transworld QBV ICD, expects the sector to take a huge leap in the future. He also thinks that Vietnam can become a hustle and bustle logistics hub of the world.
The 1-billion-USD project in Bac Giang
CapitaLand Development (CLD) of Singapore-headquartered CapitaLand Group last month signed a memorandum of understanding (MoU) on investment cooperation worth 1 billion USD with the People’s Committee of Bac Giang to build its first logistics and industrial urban project.
CLD Vietnam general director Ronald Tay told a news agency that the project would be a synergistic factor in forming a flexible supply chain network for the northern key economic region. When completed, the whole logistics and industrial area is expected to generate jobs for over 20,000 locals.
Others outstanding investment project
Best Express Vietnam has invested $20 million in developing commodity sorting centres in Bac Ninh and Ho Chi Minh City. It also plans to spend an additional $3 million on buffing up its means of transport in 2022.
SEA Logistic Partners has started construction of the SLP Park Xuyen, a project that aims to supply warehouses in the Mekong Delta province of Long An. It is scheduled to be completed in the first quarter of 2023.
The attraction despite COVID-19 pandemic
According to a report by the ministry of industry and trade, Vietnam is home to 30,000 providers of logistics service, and the warehouse service is one of the key segments of Vietnamese logistics firms.
Over the last two years, despite the complicated developments of COVID-19, nearly $3 billion was poured into Vietnam’s logistics industry.
LEGO Group invested more than 1 billion USD to build a factory in Binh Duong