Logistics

Rapid urbanization and rising middle class are among the biggest drivers for the growth of Vietnam's logistics sector.

The EU - Vietnam Free Trade Agreement would serve as a driving force for enterprises from Vietnam and the Netherlands to expand cooperation.

Hanoi is estimated to record an economic expansion of 4% in 2020, significantly higher than the national average of 2.5 – 3%.

The establishment of this venture in the midst of the Covid-19 pandemic is testament to Vietnam’s exciting growth story, stated the firm’s senior executive.

Industry and trade are two major pillars for the development of Vietnam’s economy in general, and that of Hanoi in particular, stated Hanoi’s Party chief Vuong Dinh Hue.

The location of Hanoi has long been considered strategic as it stands at the heart of the northeast region and serves as the country’s gateway to countries around the world.

It is estimated that 20-30% of the volume and revenue of Vietnamese shipping lines are generated from the Chinese market.

Vietnam targets to join the 10 most advanced countries in agriculture by 2030, and become a global hub for food processing and agricultural logistics.

There is a growing need to better integrate and connect domestic markets to ensure that any potential slowdown in exports can be offset by higher domestic demand.

In 2019, for the first time Vietnam’s trade turnover exceeded the US$500-billion mark to reach nearly US$517 billion, of which exports stood at US$263.5 billion, up 8% year-on-year.