Tiếng Việt
English
Recently, SPN hosted an important meeting with the Tsubasa Corporation from Japan to provide a comprehensive overview of the Vietnamese business environment, particularly in the logistics field. This consultation not only helped Tsubasa gain a deeper understanding of the market but also opened up potential cooperation opportunities between the two parties.
Vietnam is a country with an open economy and it also has signed numerous free trade agreements – which enhance the competitiveness of export business. These agreements not only create opportunities to access international markets but also help businesses reduce tariffs and costs, thereby stimulating exports and economic growth.
1.Potential for the development of the logistics industry in Vietnam
Experts from SPN have highlighted the development potential of Vietnam’s logistics industry. The demand for goods transportation is increasing rapidly, coupled with continuous improvements in infrastructure. However, currently, the average logistics cost in Vietnam remains at 16.8% – 17% of GDP, much higher than the global average of around 10.6%. The main reasons for this situation include:
- Uneven infrastructure development.
- Transportation costs account for up to 59% of total logistics costs.
- Limited technology.
- Shortage of high-quality human resources.
- Challenges for investors
During the meeting, experts have analyzed some challenges that investors, like Tsubasa might face, including:
- Complex legal regulations.
- Intense competition from large foreign-invested corporations.
- Strong participation from domestic small and medium-sized enterprises.
- Opportunities for growing in the future
Despite numerous challenges, Vietnam has the potential to become a strategic logistics hub in the ASEAN region due to:
- Geographical advantages: A 3,000 km coastline and a central location in Southeast Asia.
- Large-scale government projects:
- +North-South expressway: Expected to be 2,063 km long, connecting 20 seaports and 16 major airports.
- +Port infrastructure development: Construction of additional airports and seaports in key economic zones.
Furthermore, with the goal of increasing per capita income to between US$27,000 and US$32,000 per year by 2050 and achieving the Net Zero commitment, Vietnam is further strengthening its position in the eyes of foreign investors.
The meeting with Tsubasa Corporation was a great success, not only providing them with a deeper understanding of Vietnam’s business environment but also laying the foundation for a sustainable partnership in the future. SPN Invest is committed to continuing to accompany businesses in exploring potential and achieving sustainable development in the logistics field.
