According to study, “Vietnam Logistics Industry Comprehensive Report Q4/2019” the key companies operating in the Vietnam logistics market are Petrovietnam Transportation Corporation (PVT), Vietnam Ocean Shipping Joint Stock Company (VOS), Vinafreight Joint Stock Company (VNF), Vietnam Sea Transportand Chartering Joint Stock Company (VST), South Logistics Joint Stock Company (STG), Vietnam Container Shipping Joint Stock Company (VSC), Vietnam Tanker Joint Stock Company (VTO), Tan Cang Logistics & Stevedoring Joint Stock Company (TCL), Vinafco Shipping Joint Stock Company (VFC), Dinhvu Port Investment and Development Joint Stock Company (DVP), Vietnam Ocean Shipping Agency Corporation (VSA), Hai An Transport And Stevedoring Joint Stock Company (HAH), Gemadept Joint Stock Company (GMD), Cat Lai Port Joint Stock Company (CLL), CdongNai Port Joint Stock Company (PDN), Doan xa port joint stock. Company (DXP).Key companies are primarily focusing on the specific industry sectors for instance high-tech machines, pharmaceutical sector, automobile sector, and other high revenue generators. Additionally, logistics service providers are associating with blockchain technology providers to develop platforms that will increase the security and transparency of the logistics industry. The providers are using the latest technology, for instance VMI (Vendor Managed Inventory) and CPFR(Collaborative Planning, Forecasting and Replenishment) to satisfy ever-changing customer requirements.
Logistics is a process of planning and coordinating resources & services from the point of origin to the point of consumption. It is basically dependent on the global economic situation & international trade flows. It provides efficient & effective transportation and storage of goods or services. The major components of this sector involved in the proper functioning of a business or an organization include inbound & outbound transportation, inventory management, material handling, warehousing, etc.
Based on model type, Vietnam logistics market is segmented into first-party logistics (1 PL), second-party logistics (2 PL), third-party logistics (3 PL) and fourth-party logistics (4 PL). Based on mode of transport, market is segmented into waterways transport or sea transport, air transport, road transport, and rail transport. Based on customer type, market is segmented into Business to Business (B2B) and Business to Customer (B2C). In addition, based on end-user, market is segmented into healthcare, manufacturing, telecommunication, trade & transportation, government & public utilities, retail, media & entertainment, banking & financial services, information technology, and others.
The Vietnam logistics market is driven by increase in global trade activities, followed by rise in new product development, increase in advancement in information technology & transportation sector, growth in trade related agreements &global logistics infrastructure, rise in trend towards online shopping along with technological advancement in transaction, communication and increase in globalization & reduction of the trade barriers. However, high inventory cost & low warehousing space and stringent regulations led by government to defend the domestic industries & local shopkeepers may impact the market.Moreover, rise in adoption of green logistics solutions and growth in adoption of advance tracking system for delivery for instance Global Positioning System (GPS), bar code system and Radio-Frequency Identification (RFID) by the logistics providers for tracking application are key opportunities for market.
In Q4/2019, Vietnam logistic industry was one of the fastest growing industry owing to increase in import and export activities. In upcoming years, it is predicted that this industry will be reached at rapid pace due to growth in domestic manufacturing, high economic growth and increase in e-commerce during the forecast period.
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Ankur Gupta, Head Marketing & Communications