At the 2nd Vietnam Logistics Conference held on October 31, Deputy Minister of Planning and Investment Do Thanh Trung emphasized the vital role of logistics in socio-economic development.

He acknowledged the significant progress made in Vietnam's logistics sector, thanks to government policies and initiatives that have boosted its capabilities and global ranking.

As per the World Bank's 2023 Logistics Performance Index (LPI), Vietnam ranks 43rd globally, securing a top-5 position in ASEAN. Additionally, Agility's 2023 Emerging Markets Index placed Vietnam 10th among the top 50 emerging logistics markets, reflecting a one-step improvement from the previous year.

Vietnam's logistics industry is experiencing robust growth, expanding at an average annual rate of 14-15% and generating $40-42 billion in annual revenue. The number of domestic logistics and transportation businesses has surged to over 3,000, while approximately 25 leading global logistics groups have established their presence in the country.

Despite these achievements, the need for transformation and innovation is more urgent than ever, the deputy minister noted.

He encouraged logistics businesses to maintain their competitive edge by embracing technological advancements, optimizing operations, and implementing digital transformation.

He acknowledged the challenges faced by many Vietnamese logistics companies, particularly small and medium-sized enterprises (SMEs) with limited resources and expertise. However, he stressed that these challenges also present a significant opportunity for businesses to accelerate their transformation and strengthen their operations.

The deputy minister highlighted the pivotal role of technology in driving success. "Businesses and nations that embrace the latest technological trends will undoubtedly emerge as leaders," he noted.