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  • News
  • 28 July 2021

Outlook for the logistics industry in 2021

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Logistics is an essential service industry in the overall structure of the national economy, however, affected by the Covid-19 pandemic. This industry is currently facing many difficulties and challenges. To bring the logistics industry to a boom from 2021, these transport businesses must grasp the opportunities of trade agreements and quickly apply the digital transformation into the background business logistics platform.

Although the business results were not favorable in 2020, the port & logistics industry has positive developments largely thanks to the expectation of Vietnam’s trade growth due to the positive impact of the newly signed FTAs agreements such as EVFTA and RCEP; and expected increase in FDI inflows thanks to the wave of supply chain diversification and manufacturing out of China.

Problems raised for Vietnam

For goverment, it is necessary to focus on perfecting mechanisms and policies related to logistics to ensure stability and synchronization, and barriers to reducing costs for people and businesses. They deploy solution in taxes, fees, customs to shorten the time, improve quality, and reduce costs for logistics activities.

For professional associations, it is necessary to strengthen training and improve the quality of human resources serving the Logistics industry. In addition, they should coordinate to survey and learn to develop a set of professional standards and a national qualification framework for logistics in line with the standard level of ASEAN and the world. They strengthen cooperation with international organizations to conduct training and build teams based on practical training courses to improve training and human resource training in logistics.

For the logistics business community, it is necessary to focus on improving competitiveness and management level in promoting digital transformation to catch up with the trend of information technology application in most stages of logistics. They should innovate models, activities, apply information technology, capture market information to have solutions to mobilize resources, expand production and business. Besides, business will actively seek and associate with reputable international enterprises to jointly develop and improve the quality of logistics services.

The analysis team said that Vietnam’s exports could benefit from a recovery in global consumption. However, the growth rate may not be as strong as other exporting countries will also restart production. SSI estimates that Vietnam’s import-export value and total international port throughput will increase by 10% in 2021, supported by global recovery. New FTA agreements come into force and expected growth in FDI inflows thanks to the wave of diversifying production chains out of China.

(Source: dienđandoanhnghiep)