More efforts are needed to lower logistics costs, which are still kept at a high level, to increase the economy’s competitiveness, according to insiders.
Inadequate transport infrastructure and connectivity, and domestic enterprises’ low capacity and slow technology adoption and digital transformation are hindering the otherwise rapidly growing logistics industry, experts have said.
VOV.VN - A steep increase in online sales has put pressure on the logistics system, thereby triggering the race to invest in Vietnamese e-commerce logistics, according to details given by insiders.
Vietnam and the Czech Republic have complementary economic structures, so both sides will benefit from stronger bilateral cooperation, said Vietnamese Trade Counselor in the European nation Nguyen Thi Hong Thuy.
In the recent three years after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect, trade revenue between Vietnam and other member countries has seen two-digit growth every year, said Director of the Multilateral Trade Policy Department under the Ministry of Industry and Trade (MoIT) Luong Hoang Thai.
Tech is rapidly changing the e-logistics landscape, raising the need for Vietnam to increase the application of advanced technologies to develop an efficient logistics industry to grab opportunities arising from e-commerce.
Vietnam reported a year-on-year surge of 23.5% in textile and garment exports to earn US$18.7 billion in the first five months of this year in the midst of lingering market uncertainties coupled with rising prices of inputs.
Joining the world logistics passport (WLP) initiative could help enterprises reduce logistics costs and increase competitiveness for exports.
For each container of woodwork shipped from the Cat Lai port in Ho Chi Minh City, Vietnam, to the United States, exporters have to pay up to US$25,000.
VOV.VN - Logistics enterprises must boost business co-operation, intensify investment in innovating reasonable operating and transportation methods, as well as strongly develop the nation’s shipping fleet in the future in an effort to reduce logistics costs, according to industry insiders.