According to the report analysis, ‘Vietnam Logistics Industry Comprehensive Report Q1/2020’ states that in the Vietnam logistics market there are numerous corporates which presently operating more significantly for leading the fastest market growth and registering the handsome value of market share throughout the review duration while spreading the awareness related to the applications, durability and effective services, delivering the better consumer satisfaction, decreasing the linked prices, implementing the effective strategies and policies, analyzing the competitor’s and government’s norms and advancing the technologies includes PETROVIETNAM TRANSPORTATION CORPORATION (PVT), VINAFREIGHT JOINT STOCK COMPANY (VNF), VIETNAM OCEAN SHIPPING JOINT STOCK COMPANY (VOS), SOUTH LOGISTICS JOINT STOCK COMPANY (STG), VIETNAM TANKER JOINT STOCK COMPANY (VTO), VINAFCO SHIPPING JOINT STOCK COMPANY( VFC), VIETNAM OCEAN SHIPPING AGENCY CORPORATION (VSA), VIETNAM SEA TRANSPORTAND CHARTERING JOINT STOCK COMPANY (VST), GEMADEPT JOINT STOCK COMPANY (GMD), VIETNAM CONTAINER SHIPPING JOINT STOCK COMPANY (VSC), TAN CANG LOGISTICS & STEVEDORING JOINT STOCK COMPANY (TCL), DINHVU PORT INVESTMENT AND DEVELOPMENT JOINT STOCK COMPANY(DVP), HAI AN TRANSPORT AND STEVEDORING JOINT STOCK COMPANY (HAH), CDONG NAI PORT JOINT STOCK COMPANY(PDN), CAT LAI PORT JOINT STOCK COMPANY (CLL), DOAN XA PORT JOINT STOCK. COMPANY (DXP) and several others.
The worldwide logistics market is review to increase at an average of 6.54% per year over the duration of 2017-2020, and reach USD 15.5 trillion by 2024, approximately double the figure of USD 8.2 trillion in 2016. International trade is quite vigorous, besides the augmenting the requirement for transportation along with the transformation in the shipping capacity has supported 3PL logistics service merchants continuously augment revenue in the past 3 years.
Predominantly in Vietnam, Commonly in 2019, freight transport reached 1,684.1 million tons, up 9.7% over the preceding year and 322.2 billion tons.km, up 7.8%, of which domestic transport stretched 1,650 million tons, up 9.8 % and 179.4 billion tons-kilometers, up 10.4%; foreign transport grasped 34.1 million tons, up 4.3% and 142.8 billion tons-kilometers, up 4.7%. It is projected that Vietnam’s freight and logistics market will stretch USD 113.32 billion by 2022, with a CARG of 16.56%.
In addition, the E-commerce plays very central role in offering freight consumers new options to help their economic growth. E-commerce is projected to persist as the foremost driver of growth in the transportation industry. Not only has this, the effective rise in the internet-based retailing is booming the growth of the logistics market. Exponentially flourishing the online shopping around the market is behaving as foremost driver of the logistic market. Furthermore, short duration consignment delivery, after sales helps and services are propelling the internet retail market. Expressive the fact, the online retailer should deliver the good logistics services to form and continue good and satisfactory relationships with the consumers. The growth in internet retail market is thus propelling the logistics market at present and same trend is projected to be monitored over the forecast duration. Therefore, in the upcoming future, it is anticipated that the market of logistics will increase around the region over the forthcoming years more extensively.
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Ankur Gupta, Head Marketing & Communications