Minister of Industry and Trade Tran Tuan Anh has stressed the need for logistics firms to intensify connectivity and expand financial scales in order to further develop the sector.
A view of Chua Ve container port in Hai Phong city (Photo: VNA)
Hanoi (VNA) – Minister ofIndustry and Trade Tran Tuan Anh has stressed the need for logistics firms tointensify connectivity and expand financial scales in order to further developthe sector.
Currently, most of logistics firms aremicro-, small- and medium-sized ones, which hampers the effectiveness oflogistics activities, Anh told reporters on the sidelines of a nationalconference in Hanoi on April 16 to seek ways to reduce logistic expenses andimprove transport connectivity.
He suggested the firms apply informationtechnology in administration as e-commerce continues developing and is becominga driving force for the development of trade in general and logisticsactivities in particular.
Businesses operating in this sector were advised to gain access to theGovernment’s development programmes.
The minister also emphasised the importanceof maintaining a dialogue mechanism for enterprises and the Government.
Regarding the sector’s shortcomings,Minister Anh pointed to the limited capacity of the economy and businessesthemselves, especially in technology and human resources.
The State management on trade, particularlyin specialised inspections and import-export activities, remains weak, whichresults in losses in both time and money for businesses.
In addition, asynchronous transportationinfrastructure leads to high costs of logistics services, Anh added.
According to the World Bank, Vietnam ranked64th amongst 160 countries in the Logistics Performance Index in 2016. TheSoutheast Asian country’s logistic sector records an annual average growth rateof 14-16 percent.
However, the expenses for logistic servicesaccounted for 20.9 percent of Vietnam’s gross domestic product (GDP), of whichtransportation costs amount to 59 percent.
The shipping costs of a 40 feet containerfrom Hanoi to Ho Chi Minh City (excluding loading and unloading costs) isestimated at 40 million VND (1,762 USD), 9.7 times higher than that of sea routesand 2.5 times higher than that of railways, according to Ministry ofTransport.-VNA
Logistics businesses are accelerating investment in technology to meet the rising demand for delivery of goods at home and abroad amid booming e-commerce, heard a workshop in Hanoi on April 10.
Ways to reduce logistics costs and improve transport connectivity were the main topics of a national conference held in Hanoi on April 16 under the chair of Prime Minister Nguyen Xuan Phuc.
Vietnam has surpassed Thailand and Malaysia to lead Southeast Asia in terms of e-commerce growth with an annual expansion of more than 30 percent, bringing big opportunities for logistics companies.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
A view of Chua Ve container port in Hai Phong city (Photo: VNA) 
